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The Reserve Bank of India to launch a retail CBDC pilot in December

 The digital rupee is intended as a supplement to the current payment system and not its replacement


Having tested the wholesale usage of its central bank digital currency (CBDC) the Reserve Bank of India (RBI) is preparing to conduct the retail pilot of the digital rupee the pilot should launch within a month. 

The RBI is in the final stage of preparing the rollout of the retail digital rupee pilot. the participants are the State Bank of India, Bank of Baroda, ICICI Bank, Union Bank of India, HDFC Bank, Kotak Mahindra Bank, Yes Bank, and IDFC First Ban, the pilot is going to include all the commercial banks in the country. 

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