The Central Bank of India called the date of launching its own digital currency – Bits Media

Reserve Bank of India (RBI) Preparing to launch a retail pilot project of digital rupees (CBDC). The pilot release should take place within a month - in December.

Now the Central Bank is at the last stage of launch preparation, And among the participants The project is such large commercial organizations as Union Bank of India, ICICI Bank, Bank of Baroda, Kotak Mahindra Bank and others. In the future, all commercial banks of the country will attract the project.

Each bank participating in the project will have to test the digital rupee on the audience the size of 10 000 to 50 000 users. To integrate a new payment method, Banks will resort to the services of the Bankit and Paynearby platforms, And the infrastructure itself will belong to the National Payment Corporation of India (Npci).

The state digital currency will be stored on user wallets and issued on request - by analogy with cash withdrawal at the ATM. So far, services will be available only in some cities. Clients will have to download special wallets, However, later RBI plans to completely integrate the service with existing digital banking applications, so that users can not switch to third -party platforms.

Earlier, Binance General Director Chanpeng Zhao called India a country, not suitable for the development of cryptocurrency business due to strict tax regime.