India To Roll Out Retail Pilot Program for Digital Rupee
CoinEdition
Published Nov 24, 2022 01:54PM ET
India To Roll Out Retail Pilot Program for Digital Rupee
- Peter Schiff took to Twitter to report that the RBI will roll out a retail pilot program for the digital rupee.
- The Federal Reserve authorities launched a 12-week pilot program to test the feasibility of the CBDC.
- The National Payments Corporation will host the digital rupee payment system during the testing phase.
Chief economist and founder of SchiffGold, Peter Schiff, took to Twitter to say that the Reserve Bank of India (RBI) will roll out a retail pilot program for the digital rupee.
A person involved in the program said that the e-rupee will be stored in a wallet, and the denominations will be available as per the customer’s request. The program will provide access to safe money for payment and settlement as it is a direct liability of the central bank.
The government authorities believe that the wholesale CBDC has the potential to transform settlement systems for financial transactions and make them more efficient and secure.
The post India To Roll Out Retail Pilot Program for Digital Rupee appeared first on Coin Edition.
See original on CoinEdition
Get The News You Want
Written By: CoinEdition
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.