The Reserve Bank of India (RBI) is launching a Digital Central Bank Currency (CBDC) pilot to see its impact on transaction fees.
Reserve Bank of India (RBI) by 31 October In a press release published on government bond secondary market digital rupee tests to be used in the settlement of transactions to start reported. in total nine the purpose of the test that the bank will participate in is the digital rupee effect on transaction costs. said to investigate.
on the first day of November The aim of the test, which is reported to be started, is to ensure that the digital rupee is an overall solution by reducing costs arising from factors such as clearing risk in transactions, collateral infrastructure used to mitigate clearing risk, and collateral requirement. measuring the impact on cost reduction was declared.
RBI test, RBI, Baroda Bank, Union Bank of India, HDFC, ICICI, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC announced that he would attend.
Also in the statement, customers and business users A CBDC test for next month is planned to be launched.