Question

Which of the following statements is/are true regarding the pilot programme for wholesale digital rupee in the call money market initiated by RBI? I. Nine banks, including four public sector banks and five private sector banks, are participating in the e-rupee call money pilot. II. In the call money market, banks engage in short-term borrowing and lending activities among themselves, with interest rates determined by prevailing market conditions. III.The settlement 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 (CCI

Q: Answer-Which of the following statements is/are true regarding the pilot programme for wholesale digital ru...

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 Nine banks, including four public sector banks and five private sector banks, are participating in the e-rupee call money pilot. In the call money market, banks engage in short-term borrowing and lending activities among themselves, with interest rates determined by prevailing market conditions. 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 T0 mode, indicating that trades will be settled on the same day.