The Digital Rupee (e₹)[6] or eINR or E-Rupee is a tokenised digital version of the Indian Rupee, issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC).[7] The Digital Rupee was proposed in January 2017 and launched on 1 December 2022.[8] Digital Rupee is using blockchain distributed-ledger technology.[9]
Like banknotes it will be uniquely identifiable and regulated by Central Bank. Liability lies with RBI. Plans include online and offline accessibility.[10] RBI launched Digital Rupee for Wholesale (e₹-W) catering to financial institutions for interbank settlements and Digital Rupee for Retail (e₹-R) for consumer and business transactions.[11] The implementation of the Digital Rupee aims to remove the security printing cost borne by the general public, businesses, banks, and RBI on physical currency which amounted to ₹49,848,000,000.[12] [4984.8 X1,00,00,000 = ~5000 Crores]
^Suvarna, Manish M. (9 November 2022). "G-sec transactions using digital rupee recorded highest volume since inception on November 7". Moneycontrol. Retrieved 8 December 2022.
^Ray, Anulekha (6 December 2022). "RBI retail digital rupee pilot starts: Who can use e-Rupee?". The Economic Times. Retrieved 8 December 2022.
^Mishra, Ankur (1 February 2022). "Budget 2022: Digital Rupee to be issued by RBI in FY23". TimesNow. Retrieved 15 December 2022.
^"Instant View: India's retail inflation eases to 5.02% in September". Reuters. 12 October 2023. Archived from the original on 12 October 2023. Retrieved 12 October 2023.
^"Annual Report : Inflation, Money and Credit". Reserve Bank of India. 27 May 2021. Retrieved 6 November 2022.
^Cite error: The named reference :0 was invoked but never defined (see the help page).
^"The e₹ is on the way as RBI gears up for a pilot launch of its own digital currency". Moneycontrol. 10 October 2022. Retrieved 3 November 2022.
^Delhi, PIB (12 December 2022). "PIB press release". pib. Retrieved 31 July 2023.
^Anand, Nupur (7 December 2022). "India cenbank says digital currency transactions to stay largely anonymous". Reuters. Retrieved 5 January 2023.
^Bhardwaj, Shashank. "India's Central Bank Plans Graded Implementation Of CBDC". Forbes India. Retrieved 3 November 2022.
^Delhi, PIB (12 December 2022). "PIB press release". pib. Retrieved 31 July 2023.
^Kaushal, Teena Jain (1 November 2022). "RBI's Digital Rupee pilot launch today: Here are 10 things to know". Business Today. Retrieved 4 November 2022.
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Global Information
India
5.02% (October 2023)[4]
Indian Rupee (at par)