As promised by the RBI, the first pilot of the digital currency, the Digital Rupee (E ₹), will start from November 1. This will be the first launch of e-Mudra and will be for the wholesale segment.
State Bank of India, Union Bank of India, Bank of Baroda, Kotak Mahindra Bank, HDFC Bank, ICICI Bank, IDFC Bank, HSBC, and Yes Bank, and some of the banks identified in the pilot, as disclosed by the central bank.
RBI revealed that the pilot launch of Digital Rupee (e₹) is for specific use cases. It also released a concept note on Central Bank Digital Currency (CBDC), aimed at creating awareness about digital currencies and the digital rupee in particular.
The digital rupee test starting Tuesday, November 1 first appeared on BGR India.