{"id":278829,"date":"2022-11-30T17:30:44","date_gmt":"2022-11-30T12:00:44","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=278829"},"modified":"2022-11-30T17:28:56","modified_gmt":"2022-11-30T11:58:56","slug":"rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\/","title":{"rendered":"RBI announces launch of Central Bank Digital Currency \u2013 Retail (e\u20b9-R) Pilot"},"content":{"rendered":"<div style=\"line-height: 150%;\">\n<p style=\"text-indent: 18pt;\">&#160; &#160;<\/p>\n<p style=\"margin-bottom: 3%;\">On 31-11-2022, the Reserve Bank announces the launch of the first pilot for retail digital Rupee (e&#8377;-R) on 1-12-2022.<\/p>\n<p style=\"margin-bottom: 3%;\">The pilot would cover select locations in closed user group (CUG) comprising participating customers and merchants. The e&#8377;-R would be in the form of a digital token that represents legal tender. It would be issued in the same denominations that paper currency and coins are currently issued. It would be distributed through intermediaries, i.e., banks. Users will be able to transact with e&#8377;-R through a digital wallet offered by the participating banks and stored on mobile phones \/ devices. Transactions can be both Person to Person (P2P) and Person to Merchant (P2M). Payments to merchants can be made using QR codes displayed at merchant locations. The e&#8377;-R would offer features of physical cash like trust, safety and settlement finality. As in the case of cash, it will not earn any interest and can be converted to other forms of money, like deposits with banks.<\/p>\n<p style=\"margin-bottom: 3%;\">The pilot will test the robustness of the entire process of digital rupee creation, distribution and retail usage in real time. Different features and applications of the e&#8377;-R token and architecture will be tested in future pilots, based on the learnings from this pilot.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&#160; &#160; On 31-11-2022, the Reserve Bank announces the launch of the first pilot for retail digital Rupee (e&#8377;-R) on 1-12-2022. The <\/p>\n","protected":false},"author":8808,"featured_media":278862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[],"class_list":["post-278829","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot_off_the_press","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>RBI announces launch of Central Bank Digital Currency \u2013 Retail (e\u20b9-R) Pilot | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e\u20b9-r-pilot\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBI announces launch of Central Bank Digital Currency \u2013 Retail (e\u20b9-R) Pilot\" \/>\n<meta property=\"og:description\" content=\"&#160; &#160; On 31-11-2022, the Reserve Bank announces the launch of the first pilot for retail digital Rupee (e&#8377;-R) on 1-12-2022. The\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e\u20b9-r-pilot\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-30T12:00:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/11\/MicrosoftTeams-image-334.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"390\" \/>\n\t<meta property=\"og:image:height\" content=\"310\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bhumika Indulia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bhumika Indulia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2022\\\/11\\\/30\\\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2022\\\/11\\\/30\\\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\\\/\"},\"author\":{\"name\":\"Bhumika Indulia\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/#\\\/schema\\\/person\\\/919ec47cc1b871b362af05740398033a\"},\"headline\":\"RBI announces launch of Central Bank Digital Currency \u2013 Retail (e\u20b9-R) Pilot\",\"datePublished\":\"2022-11-30T12:00:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2022\\\/11\\\/30\\\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\\\/\"},\"wordCount\":228,\"commentCount\":1,\"image\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2022\\\/11\\\/30\\\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/MicrosoftTeams-image-334.jpg\",\"articleSection\":[\"Hot Off The Press\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2022\\\/11\\\/30\\\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2022\\\/11\\\/30\\\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\\\/\",\"url\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2022\\\/11\\\/30\\\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\\\/\",\"name\":\"RBI announces launch of Central Bank Digital Currency \u2013 Retail (e\u20b9-R) Pilot | SCC Times\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2022\\\/11\\\/30\\\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2022\\\/11\\\/30\\\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/MicrosoftTeams-image-334.jpg\",\"datePublished\":\"2022-11-30T12:00:44+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/#\\\/schema\\\/person\\\/919ec47cc1b871b362af05740398033a\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2022\\\/11\\\/30\\\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2022\\\/11\\\/30\\\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2022\\\/11\\\/30\\\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/MicrosoftTeams-image-334.jpg\",\"contentUrl\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/MicrosoftTeams-image-334.jpg\",\"width\":390,\"height\":310,\"caption\":\"RBI\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/2022\\\/11\\\/30\\\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"RBI announces launch of Central Bank Digital Currency \u2013 Retail (e\u20b9-R) Pilot\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/#\\\/schema\\\/person\\\/919ec47cc1b871b362af05740398033a\",\"name\":\"Bhumika Indulia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/84c1b51748d0297cf12e5a898eccb7bd3eb5f0ab4ae8e275e2e65c4c83f84740?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/84c1b51748d0297cf12e5a898eccb7bd3eb5f0ab4ae8e275e2e65c4c83f84740?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/84c1b51748d0297cf12e5a898eccb7bd3eb5f0ab4ae8e275e2e65c4c83f84740?s=96&d=mm&r=g\",\"caption\":\"Bhumika Indulia\"},\"url\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/post\\\/author\\\/editor_1\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"RBI announces launch of Central Bank Digital Currency \u2013 Retail (e\u20b9-R) Pilot | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e\u20b9-r-pilot\/","og_locale":"en_US","og_type":"article","og_title":"RBI announces launch of Central Bank Digital Currency \u2013 Retail (e\u20b9-R) Pilot","og_description":"&#160; &#160; On 31-11-2022, the Reserve Bank announces the launch of the first pilot for retail digital Rupee (e&#8377;-R) on 1-12-2022. The","og_url":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e\u20b9-r-pilot\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2022-11-30T12:00:44+00:00","og_image":[{"width":390,"height":310,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/11\/MicrosoftTeams-image-334.jpg","type":"image\/jpeg"}],"author":"Bhumika Indulia","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Bhumika Indulia","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\/#article","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\/"},"author":{"name":"Bhumika Indulia","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a"},"headline":"RBI announces launch of Central Bank Digital Currency \u2013 Retail (e\u20b9-R) Pilot","datePublished":"2022-11-30T12:00:44+00:00","mainEntityOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\/"},"wordCount":228,"commentCount":1,"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/11\/MicrosoftTeams-image-334.jpg","articleSection":["Hot Off The Press","News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\/","url":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\/","name":"RBI announces launch of Central Bank Digital Currency \u2013 Retail (e\u20b9-R) Pilot | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/11\/MicrosoftTeams-image-334.jpg","datePublished":"2022-11-30T12:00:44+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/11\/MicrosoftTeams-image-334.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/11\/MicrosoftTeams-image-334.jpg","width":390,"height":310,"caption":"RBI"},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/30\/rbi-announces-launchof-central-bank-digital-currency-retail-e%e2%82%b9-r-pilot\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"RBI announces launch of Central Bank Digital Currency \u2013 Retail (e\u20b9-R) Pilot"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a","name":"Bhumika Indulia","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/84c1b51748d0297cf12e5a898eccb7bd3eb5f0ab4ae8e275e2e65c4c83f84740?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/84c1b51748d0297cf12e5a898eccb7bd3eb5f0ab4ae8e275e2e65c4c83f84740?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/84c1b51748d0297cf12e5a898eccb7bd3eb5f0ab4ae8e275e2e65c4c83f84740?s=96&d=mm&r=g","caption":"Bhumika Indulia"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/11\/MicrosoftTeams-image-334.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/278829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=278829"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/278829\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/278862"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=278829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=278829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=278829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}