Digital Rupee First Day of Launch 275 Crore in 48 Transactions

It was launched on 1 November. Explain that under the pilot project of CBDC,

Banks have been allowed to use it for transactions in only wholesale segment

In RBI’s digital currency experimental pilot

Digital currency experimental pilot total Nine banks are involved in this pilot project

According to information of CCIL the CBDC was used to settle 48 different trades.

A weighted average yield of 7.33% was achieved on 24 trades

Nine banks take part in the pilot project Digtal Rupee

State Bank of India, Bank of Baroda, Union Bank of India,

HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank, and HSBC

Now CBDC digital rupee account each bank has established with the RBI,

banks request from the RBI that the cash in the Cash Reserve Ratio (CRR) account be converted into digital rupees