India’s Central Bank Starts Wholesale CBDC Pilot Nov. 1

India’s central bank will introduce a demo wholesale central bank digital currency (CBDC) on November 1, and the retail version will start within a month having Nine prominent banks have been identified to participate in the pilot project. In a statement, the Reserve Bank of India said the case for using the wholesale digital rupee is to “settle secondary market transactions in government securities” as it will reduce transaction costs

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