The pilot will include nine banks: State Bank of India (SBI), Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank, and HSBC.
Digital Desk: The
Reserve Bank announced on Tuesday that the first pilot of the Central Bank
Digital Currency - Digital Rupee (Wholesale segment) will begin for
transactions in government securities.
The pilot's use case is the
settlement of secondary market transactions in government securities, according
to a statement issued by the RBI on Monday.
The pilot will include nine banks: State Bank of India (SBI),
Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra
Bank, Yes Bank, IDFC First Bank, and HSBC.
The
RBI also stated that the first pilot of Digital Rupee - Retail segment is
planned for launch within a month in selected locations in closed user groups
comprising customers and merchants.
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