RBI launches retail central bank digital currency on pilot basis

The RBI today, 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. AIR correspondent reports, the RBI will issue digital currency in the same denominations that paper currency and coins are issued. Retail digital rupee transactions can be carried out through a digital wallet on mobile phones and other dev...