Digital rupee can't replace physical currency: SBI Chief Dinesh Khara

SBI Chairman Dinesh Khara said, "For a country of our size, central bank digital currency cannot replace physical currency." He added, "There's scope for the co-existence of both." The RBI launched the first pilot of the Digital Rupee - Retail segment (e₹-R) on December 1, 2022. The e₹-R is in the form of a digital token that represents legal tender.