The Reserve Bank of India will introduce the much-awaited retail digital rupee on December 1 as a pilot programme in a closed-user group.
Then, if you have a loan or plan to take one, if you have a credit card, or if you subscribe to SMS alerts from a bank, there are important changes coming up in December that you need to monitor.
Retail digital rupee
The pilot programme for the retail digital rupee (e₹-R) starts on December 1 for a closed user-group of customers and merchants in select locations. The RBI has identified eight banks that will participate in this pilot. The first phase will begin with State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank in Mumbai, New Delhi, Bengaluru and Bhubaneswar.