RBI initiates pilot run to test e-rupee for inter-bank borrowing
Banking & Finance
The RBI had launched the wholesale CBDC pilot for settlements in the secondary government securities market in November 2022, and later the retail CBDC pilot for P2P and P2M transactions in December 2022. It aims to touch 10 lakh transactions per day by December 2023. While progress is being made on retail CBDC targets, Chaudhary said the central bank is working on putting all the building blocks in place to ensure the speed of transactions. The pilot is believed to have been offered through nine banks that are already part of the G-Sec pilot – State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank , Yes Bank, IDFC.
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