The Reserve Bank of India has today released a 50 page Concept Note on Central Bank Digital Currency (CBDC) called ‘e₹’.
The purpose of issuing this Concept Note is to raise awareness about CBDCs in general, and specifically about the planned features of the Digital Rupee (e₹).
It aims to explain the objectives, choices, benefits, and risks of issuing a CBDC in India. The Note also clarifies the Reserve Bank’s approach to implementing the CBDC.
The Concept Note also addresses key issues such as technology and design choices, potential uses of the Digital Rupee, issuance mechanisms, and so on.
It examines the implications of introduction of CBDC on the Indian banking system, monetary policy, financial stability, and analyses privacy issues.
The Reserve Bank will soon commence pilot launches of e₹ for specific use cases and is already in Conversation with 4 Public Banks. As the extent and scope of such pilot launches expand, RBI will continue to communicate about the specific features and benefits of e₹, from time to time.
The Reserve Bank will soon commence pilot launches of e₹ for specific use cases. RBI will continue to communicate about the specific features and benefits of e₹ as the scope and extent of such pilot launches expand.
