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RBI Launches e-Rupee in 4 Cities

Published on December 06, 2022
Current Context: The Reserve Bank of India launched its pilot on the “Digital Rupee Retail Segment”, an electronic form of sovereign currency.
RBI Launches e-Rupee in 4 Cities
  • The Central Bank Digital Currency (CBDC) or e-Rupee was launched by the RBI in 4 Indian cities:
  1. Mumbai
  2. New Delhi
  3. Bengaluru
  4. Bhubaneswar
  • In the first phase of the pilot, 4 banks will participate in the initiative:
  1. SBI
  2. ICICI Bank
  3. YES Bank
  4. IDFC First Bank
  • In this regard, the RBI issued INR 1.71 Cr to these banks based on their indents.
  • It will cover the selected location in Closed User Groups (CUG) which will include both the customers and merchants.
  • RBI is the country’s central bank and was established in 1935 under the RBI Act 1934 with its headquarters in Mumbai. The current Governor of it is Shaktikanta Das.

Question:

Q.1 Which of the following is NOT the city in which the RBI launched its 1st phase of the pilot on the “Digital Rupee Retail Segment”?
a. Chennai
b. Mumbai
c. New Delhi
d. Bengaluru
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