RBI is Going to Launch Digital Rupee from Today in 4 Major Cities of India

Reserve Bank of India is going to launch Digital Rupee today (01/12/2022) in 4 major cities, which are Mumbai, Delhi, Bengaluru and Bhubaneswar. In starting, it will launch as a pilot project for trial and after that, it will work like a normal currency in all over the India.

Digital Currency is just like a Paper Money, customers can use it just like a normal Rupee in Shop and also use to transfer between other customers. Bank will provide this currency to customers and they can use it by using QR code in shops, but they will not get any kind of interest just like a paper money. If they want to earn interest then they can deposit it in bank.

Experts says, there will be no impact on Cryptocurrency after launching the Digital Rupee because Cryptocurrency rates always change, so both are different.

Currently SBI, ICICI Bank, Yes Bank, HDFC Bank and IDFC Banks will handle this project, after the successful trial Bank of Baroda, Union Bank of India, HDFC Bank and Kotak Mahindra Bank will also added in this project.