The Central Bank of India began testing the digital rupee with nine banks
The Reserve Bank of India (RBI) has launched a pilot program to test the wholesale digital rupee for secondary market settlement of securities. According to RBI, nine banks will take part in the project: 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 regulator expects that the use of the digital rupee will increase the efficiency of interbank…
