{"id":68268,"date":"2022-10-07T17:30:48","date_gmt":"2022-10-07T14:30:48","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68268"},"modified":"2025-09-07T13:12:49","modified_gmt":"2025-09-07T10:12:49","slug":"rbi-to-launch-pilot-for-the-digital-rupee","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/rbi-to-launch-pilot-for-the-digital-rupee\/","title":{"rendered":"RBI to launch pilot for the digital rupee"},"content":{"rendered":"<p>The Reserve Bank of India (RBI) published a <a href=\"https:\/\/rbidocs.rbi.org.in\/rdocs\/PublicationReport\/Pdfs\/CONCEPTNOTEACB531172E0B4DFC9A6E506C2C24FFB6.PDF\">report on national digital currencies<\/a>. It states that the prototype of the digital rupee will be launched \u201cin the near future\u201d.<\/p>\n<p>The RBI has pledged to periodically disclose information about its functions and benefits.<\/p>\n<p><span data-descr=\"national digital currency\" class=\"old_tooltip\">CBDC<\/span> can be used in wholesale as well as retail variants, as the regulator studies both options.<\/p>\n<p>The document notes that several design models are being discussed. In the wholesale CBDC it will be account-based and issued by the RBI, while in the retail version it will be token-based and operated by an intermediary.<\/p>\n<p>The RBI mentioned the need for \u201creasonable privacy for low-value transactions.\u201d This would ensure parity with cash, which does not pay interest to its holders.<\/p>\n<p>The central bank has not yet decided on the technology that will underpin the CBDC. The document notes the possibilities of adapting blockchain as it develops.<\/p>\n<p>The report examines various options and aims to raise awareness of the CBDC with weighty arguments. The latter would make the digital rupee \u201cas attractive as cash\u201d.<\/p>\n<p>The document also mentions associated risks and notes the need for a phased rollout of the pilot program.<\/p>\n<p>Back in early 2021, the RBI <a href=\"https:\/\/forklog.io\/indiya-rassmotrit-vozmozhnost-vypuska-sobstvennoj-tsifrovoj-valyuty\/\">began studying the potential<\/a> of the digital rupee.<\/p>\n<p>In June, RBI deputy governor T. Rabi Sankar suggested that <a href=\"https:\/\/u1f987.com\/en\/news\/rbi-forecasts-cbdcs-could-displace-private-cryptocurrencies\">CBDC are capable of completely displacing<\/a> private virtual currencies, including Bitcoin.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Reserve Bank of India (RBI) published a report on national digital currencies. It states that the prototype of the digital rupee will be launched &#8216;in the near future&#8217;.<\/p>\n","protected":false},"author":1,"featured_media":68269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,278,36],"class_list":["post-68268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-india","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=68268"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68268\/revisions"}],"predecessor-version":[{"id":68270,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68268\/revisions\/68270"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/68269"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=68268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=68268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=68268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}