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    Question

    The Reserve Bank of India (RBI) has initiated a pilot

    program for the wholesale segment of its central bank digital currency (CBDC) in the interbank call money market.The settlements will be in ______ mode.
    A T+0 Correct Answer Incorrect Answer
    B T+1 Correct Answer Incorrect Answer
    C T+2 Correct Answer Incorrect Answer
    D T+3 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) has initiated a pilot program for the wholesale segment of its central bank digital currency (CBDC) in the interbank call money marketĀ Ā  Nine banks, including four public sector banks and five private sector banks, are participating in the e-rupee call money pilot.Ā Ā Ā  In the call money market, banks engage in short-term borrowing and lending activities among themselves, with interest rates determined by prevailing market conditions.Ā Ā  The operational process for the e-rupee pilot remains the same, except for the settlement, which will now be carried out using the CBDC instead of the real-time gross settlement used in trades on the Clearing Corp of India Limited (CCIL). The settlements will be in T+0 mode, indicating that trades will be settled on the same day.

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