First Digital Rupee Pilot to Launch on December 1, 2022

First Digital Rupee Pilot to Launch on December 1

[{"selector":"#anim-7c748871-ad0f-4caf-84a4-043393d8e8ec","keyframes":{"opacity":[0,1]},"delay":350,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0c7e0827-2466-46b5-8b6c-29f9a7296fdd","keyframes":{"transform":["translate3d(0px, 100.05051%, 0)","translate3d(0px, 0px, 0)"]},"delay":350,"duration":1400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The RBI asserts that because the Retail Pilot Rupee is a direct liability of the Central Bank, it may offer access to safe money for payment and settlement.

[{"selector":"#anim-3dbfdb32-f5ea-4082-92d3-2af96a461ce0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4294d827-6069-4696-8f7f-135334be0af0","keyframes":{"transform":["translate3d(-95.37037%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-667b3ffb-ebce-4706-a15a-ff3ab0e4b809","keyframes":{"opacity":[0,1]},"delay":700,"direction":"normal","duration":600,"easing":"linear","fill":"both"}] [{"selector":"#anim-6ced0483-011d-4cca-ad00-b3492594c5fb","keyframes":{"opacity":[0,1]},"delay":1650,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7180030f-a5f9-4918-8408-f33143146fb4","keyframes":{"transform":["translate3d(0px, 717.09388%, 0)","translate3d(0px, 0px, 0)"]},"delay":1650,"duration":800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-665b3388-399d-46ad-9d3f-853605b243c0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fad9ea48-4036-4123-afbf-c00d59357b86 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(24.401630906794356%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Arrow

The RBI announced on Tuesday that the first pilot for retail digital rupee will begin on December 1, 2022.

[{"selector":"#anim-4de6622d-d594-4c8a-a5be-27ef40290c19","keyframes":[{"offset":0,"transform":"translate3d(0, -321.64611%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -90.446886132%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -30.749368116000003%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -11.547095349000001%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -5.017679316%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":1600,"fill":"both"}] [{"selector":"#anim-b5b5f6c5-16d1-4aea-8702-4e3cf389e8fb","keyframes":[{"transform":"scale(1)","offset":0},{"transform":"scale(1.5)","offset":0.33},{"transform":"scale(0.95)","offset":0.66},{"transform":"scale(1)","offset":1}],"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}]

The Pilot would affect participating customers & merchants in certain locations in a closed user group.

[{"selector":"#anim-932405df-00c7-4cff-8673-8b600432a542","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-f9e6cf66-a95e-4925-901e-b2de5f98ded4","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-26340a0b-e622-4eb2-8536-2cac3e8afbcd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-132a2394-2096-4866-934b-3e788b647a69","keyframes":{"transform":["translate3d(0px, 100.10947%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7f2c9158-686a-4637-9341-b28e0697de85","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-35e04053-f2c6-4353-86d7-19ac617cf379","keyframes":{"transform":["translate3d(-118.88545%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

[{"selector":"#anim-d95b465d-43a4-48db-aba6-ee7266cff139","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-79ac94a1-a834-4fc6-8dd7-4eeff394a318","keyframes":{"transform":["translate3d(-105.12129%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-daadb7a6-e7de-41af-aa91-fb12ceedd415","keyframes":[{"offset":0,"transform":"translate3d(0, -192.13406%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -54.028097672%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -18.368016136%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -6.897612754000001%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -2.997291336%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":1600,"fill":"both"}] [{"selector":"#anim-b11e0399-e2e9-4182-b978-de7cf0c861d7 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(34.249999904429615%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Burst with Arrow A Digital Wallet provided by the participating banks will enable users to transact with the Digital Rupee.

[{"selector":"#anim-fbb77f76-eb50-4f16-bc30-6f217ab5d652","keyframes":{"opacity":[0,1]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f6352bcb-9134-4576-bc21-8871bbca4cce","keyframes":{"transform":["translate3d(535.93754%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1951373c-6838-4fb2-b14a-4274b5ef6fa1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(9.417815364242895%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-1a206bd0-c056-456e-8940-8a036ea5496d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c81d2e79-ed55-4de1-9a8e-07829474a973","keyframes":{"transform":["translate3d(-102.53164%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] During the Pilot project, testing will be conducted for the entire digital rupee process of manufacturing, distribution, and retail use.

The Central Bank digital currency is a digital currency rollout RBI at selected locations.

[{"selector":"#anim-7539ef80-19df-4962-bb08-176b9c14ad27","keyframes":{"opacity":[0,1]},"delay":600,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a2b1355d-5a3d-4043-b1e9-9b2360918cae","keyframes":{"transform":["translate3d(0px, -485.91264%, 0)","translate3d(0px, 0px, 0)"]},"delay":600,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-deebbcfd-dae4-40e9-88a8-814929f68055 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(11.004353679071581%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

[{"selector":"#anim-4228a3ae-96ad-4e93-9c97-a54f2d09caa4","keyframes":[{"transform":"scale(1)","offset":0},{"transform":"scale(1.5)","offset":0.33},{"transform":"scale(0.95)","offset":0.66},{"transform":"scale(1)","offset":1}],"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] [{"selector":"#anim-15580a84-b204-413e-b43b-c9dd47c07e74","keyframes":[{"offset":0,"transform":"translate3d(0, -369.13585%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -103.80100102%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -35.289387260000005%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -13.251977015000001%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -5.75851926%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":1600,"fill":"both"}] 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.

PLEASE SHARE IF YOU LIKE THIS SHARE

[{"selector":"#anim-f400e9e1-85c8-45e6-ad1c-d1a1a49649d7","keyframes":[{"transform":"scale(1)","offset":0},{"transform":"scale(1.5)","offset":0.33},{"transform":"scale(0.95)","offset":0.66},{"transform":"scale(1)","offset":1}],"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] [{"selector":"#anim-a66745b6-deb0-4130-93f0-e84941c9214a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-26.68585512168857%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-21f3ff0c-f9e2-402e-887a-b690ad1f33e7","keyframes":{"transform":["translate3d(-130.93526%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5c0fd829-a8eb-4a85-a136-0a210a203370","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7d9afd4d-2ce4-4b69-b8d0-ac6eab178711","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] THANK YOU FOR READING