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    Question

    According to the CBDC subsidy pilot design, which bank

    has been designated as the banking partner for the initiative in Puducherry?
    A State Bank of India Correct Answer Incorrect Answer
    B Bank of Baroda Correct Answer Incorrect Answer
    C Canara Bank Correct Answer Incorrect Answer
    D Punjab National Bank Correct Answer Incorrect Answer
    E Union Bank of India Correct Answer Incorrect Answer

    Solution

    The CBDC-based food subsidy pilot in Puducherry will be implemented in collaboration with Canara Bank as the designated banking partner. The project involves coordination among several institutions, including the Government of Puducherry, the Reserve Bank of India (RBI), the Public Financial Management System (PFMS), and Canara Bank. Under the pilot model, eligible beneficiaries will receive programmable CBDC tokens in digital wallets, which can be used only to purchase food grains from Fair Price Shops and authorised merchants.

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