RBI Retail Digital rupee launching tomorrow, December 1: Check full list of banks offering digital wallet transaction
New Delhi: A month after Reserve Bank of India (RBI) had started a pilot in the digital rupee – wholesale segment on November 1, the central bank will launch the first pilot for retail digital rupee (e?-R) in four Indian cities –Mumbai, New Delhi, Bengaluru and Bhubaneswar — tomorrow (Thursday, December 1). RBI will later expand it to nine more cities in the initial phase. Also Read – Get your money doubled with these POST OFFICE schemes; Check interest rate, return calculator, maturity time The e?-R would be in the form of a digital token that represents legal tender. It would be issued in the same denominations that paper currency and coins are currently issued. It would be distributed through intermediaries, i.e., banks. Users will be able to transact with e?-R through a digital wallet offered by the participating banks and stored on mobile phones / devices. Transactions can be both Person to Person (P2P) and Person to Merchant (P2M). Payments to mercha...