The Reserve Bank said the first pilot of the Central Bank Digital Currency — Digital Rupee (Wholesale segment) will be launched on Tuesday for transactions in government securities.
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The use case for the pilot is settlement of secondary market transactions in government securities, the RBI said in a statement on Monday.
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 — have been identified for participation in the pilot.
The RBI also said the first pilot of Digital Rupee – Retail segment is planned for launch within a month in select locations in closed user groups comprising customers and merchants.
