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Digital Rupee (e₹)
The digital rupee is India’s central bank digital currency. Unlike money in a bank account, which is a claim on a bank, the e-rupee is a direct liability of the RBI, like a currency note. It is being tested for retail and wholesale payments.
Why It Matters
It could make cash programmable, for example money that can only be spent on certain goods.
In India
The RBI has piloted the retail e-rupee in many cities since 2022 and tested it for paying government subsidies.
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