Digital Rupee to go live in India on December 1: What is it, how can you use it, benefits and more

After launching Central Bank Digital Currency (CBDC)- a digital form of currency notes- for the wholesale segment, the Reserve Bank of India (RBI) has now announced its availability for retail users starting December 1. The bank will first launch the pilot for retail digital Rupee (e₹-R) to test the robustness of the entire process of digital rupee creation, distribution and retail usage in real time. This will help the bank work on any shortcomings, if found any in the first pilot, and do better testing of the program’s architecture in future pilots.