The Reserve Bank of India (RBI) announced the launch of Digital Rupee CBDC as legal means of payment issued by the Central Bank.
CBDC is exchanged and accepted on a par with existing currency, and also serves as a reliable means of saving for all citizens, businesses, governments and others who will be able to convert it into bank money or cash.
Such commercial banks as State Bank of India, Bank of Baroda, Union Bank of India, ICICI Bank, HDFC Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank will take part in this program.
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