RBI launches retail digital rupee on pilot basis

RBI on December 1, launched the retail digital rupee on a pilot basis. The central bank has identified eight banks for phase-wise participation in this trial. The retail digital rupee will be in the form of a digital token that represents legal tender. Retail digital rupee transactions can be carried out through a digital wallet on mobile phones and other devices. Only those digital wallets offered by banks participating in the RBI's digital rupee programme can transact in digital curre...