Digital Rupee is announced by RBI. E-Rupee will soon be launched on a test basis

• Image Credit: Internet

• Oct 7, 2022 | Sourav Boruah

Digital Desk: In an effort to test digital currency in India,
the Reserve Bank of India announced today that it will shortly start a trial
rollout of the digital rupee, or e-Rupee, for particular use cases.

In a concept note on Central Bank Digital Currency, the central
bank stated, "As the range and scope of such pilot launches develop, RBI
will continue to communicate about the specific characteristics and benefits of
e-rupee, from time to time" (CBDC).

The concept note also covers important issues such as technology
and design options, potential applications for the digital rupee, and issuance
procedures.

it analyses privacy concerns and looks at how the adoption of
CBDC will affect the banking system, monetary policy, and financial stability.