The first pilot for CBDC-Retail was announced on December 1, 2022. Also known as retail Digital Rupee, it offers features of physical cash like trust, safety, and settlement finality in digital mode. The retail Digital Rupee is proposed to be distributed through the two-tier model, according to the concept note released by RBI earlier. The Reserve Bank of India will issue and redeem e₹-R while the distribution and payment services will be delegated to the banks. Read More