Retail Digital Rupee

The Reserve Bank of India (RBI) has announced the launch of the first pilot project, commenced from December 1, 2022, for Retail Digital Rupee (e₹-R). The pilot would cover select locations in select closed user group (CUG) comprising of participant customers and merchants. The e₹-R will be in the form of a digital token that represents legal tender. It will be issued in the same denominations that paper currency and coins are currently issued.