Digital Rupee: Digital Currency or e-Rupee worth Rs 130 crore are being in circulation on a pilot basis as of February 28, said Union Finance Minister Nirmala Sitaraman.
Responding to a question in Rajya Sabha on Monday, Finance Minister in a written reply said, ” As of February 28, 2023, retail digital rupee worth of 4.14 core and wholesale digital rupee worth of 126.27 crores are in circulation on the pilot basis”.
The Reserve Bank of India initiated the circulation of e-rupee in the wholesale segment on November 1, 2022, and in the retail segment, it was launched on December 1, 2022.
In her reply, Sitharaman said nine Indian banks (SBI, Bank of Baroda, Union bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC) are part of the digital rupee wholesale pilot.
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e-Rupee or Digital Rupee is a kind of digital token that is issued by RBI in the same denomination of paper currency and coins.
Customers can do transactions with e-rupee with the help of digital wallets provided by banks or other financial intermediaries on mobile phones/devices.
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