A Digital Wallet provided by the participating banks will enable users to transact with the Digital Rupee.
During the Pilot project, testing will be conducted for the entire digital rupee process of manufacturing, distribution, and retail use.
According to the Reserve Bank of India, the retail digital rupee can give users access to secure funds for transactions and settlements because it is a direct liability of the central bank. Simply , retail CBDC is a form of digital cash used mostly for retail transactions.
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