Question
RBI will launch the Pilot Project of Digital
Rupee in the wholesale segment on 1 November 2022. How many banks have been identified for participation in the pilot project?Solution
In the RBI’s Pilot Project of Digital Rupee, nine banks will be participating in it which includes, 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. The Digital currency or rupee is an electronic form of money that can be used in contactless transactions.
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