RBI to expand ongoing e₹ pilot projects to more locations & banks

RBI aims to expand pilot projects for central bank digital currency (CBDC), referred to as e₹, to more banks and locations in FY24, it said in its annual report. "RBI aims at expanding ongoing pilots in CBDC-Retail and CBDC-Wholesale by incorporating various use cases and features," the report said. RBI had launched the CBDC-Retail pilot on December 1, 2022.