Mumbai The Reserve Bank of India will soon launch the Digital Rupee (e-Rupee) on a pilot basis for specific use cases. The Reserve Bank has issued a concept note on Central Bank Digital Currency (CBDC) for India which states that as the range and scope of such experimental introductions increase, the Reserve Bank will – Will inform about the features and benefits of e-rupee from time to time. The purpose of releasing this concept note is to create awareness about the schematic features of CBDCs in general and Digital Rupee (e-Rupee) in particular.
It explains the objectives, options, benefits and risks of issuance of CBDC in India. This note also attempts to reflect the Reserve Bank’s approach towards the introduction of CBDC. The concept note also discusses key topics such as technology and design options, possible uses of the digital rupee, issuance mechanism, etc. It examines the implications of the introduction of CBDCs on the banking system, monetary policy, financial stability, and analyzes privacy issues. (talk)
