Close to 7.70 lakh transactions carried out using retail CBDC: RBI DG

The Reserve Bank of India (RBI) Wednesday said close to 7.70 lakh small value transactions have been carried out using retail digital Rupee (e₹-R) in five cities so far.

The RBI had launched a pilot for retail digital Rupee (e₹-R), or retail central bank digital currency (CBDC) on December 1, 2022.

“The total number of (e₹-R) transactions (so far) are roughly about 7,70,000 but these are small value transactions so the amount is small,” the RBI Deputy Governor T Rabi Sankar said.

He said at present more than 50,000 users and over 5,000 merchants are using retail digital rupee for transactions.