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E-rupee Worth Over Rs.130 crores in Circulation by RBI

Published on March 13, 2023

Current context: RBI had launched digital rupee in the wholesale segment on November 1st ,2022 and in retail segment, it was launched in December 1st, 2022.

E-rupee Worth Over Rs.130 crores in Circulation by RBI
  • Digital rupee worth of Rs.130crores is in circulation as per report of Finance minister Nirmala Sitharam.
  • 9 banks including SBI, Bank of Baroda, UBI, HDFC, ICICI, Kotak Mahindra bank, yes bank, IDFC and HSBC bank have participated in the digital rupee for wholesale segment process.
  • The total digital rupee in retail and wholesale segment in circulation is Rs.4.14 crores and Rs.126.27crores respectively.
  • The digital rupee is in the form of a digital token which can be issued in the same denominations as a paper currency or coin.
  • Retail segment was launched in December 1st, 2022 in 5 locations.

Question:

Q.1 How many banks participated in the digital rupee for wholesale segment process?
a. 7
b. 5
c. 8
d. 9
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