RBI to soon commence pilot launch of e-rupee
The Reserve Bank of India will soon commence pilot launch of e-rupee for specific use cases and also released a concept note on Central Bank Digital Currency (CBDC) that aims to create awareness about such currencies in general and the planned features of the digital rupee, in particular. The e-rupee will provide an additional option to the current forms of money. The digital rupee is likely to be easier, faster and cheaper.
The full impact of e-currency is still being evaluated. However, the operational cost of cash management can be the immediate saving by various stakeholders. The impact on monetary policy, financial and banking system will vary depending on the e-rupee being remunerative or not.