It could, but for that a low-key experimentation by the Reserve Bank of India (RBI) currently underway in four cities needs to find more success than is being ascribed to it now. The central bank had launched a pilot project of its digital currency, the e-rupee, on December 1. Just weeks into the experiment, though, there is a general apprehension regarding the way it's going. By the end of the first week of January, about 16,000 users had made payments worth some Rs 64 lakh in a total of 160,000 transactions using the e-rupee. Those numbers can offer only a partial picture at present, though. It's difficult to bracket them conclusively one way or the other because of the limited nature of the pilot project.
As of now, only four banks-the State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank-are facilitating the pilot programme, launched in Delhi, Mumbai, Bengaluru and Bhubaneswar, which is being strictly controlled by the RBI. Four more banks-the Bank of Baroda, Union Bank of India, HDFC Bank and Kotak Mahindra Bank-will join this pilot subsequently. The RBI will issue and redeem the e-rupee, and delegate the distribution and payment services to the banks. There will be closed user groups, including both customers and merchants, as part of the pilot project. The payments can be made by scanning a QR code at the vendor's outlet.
Denne historien er fra February 06, 2023-utgaven av India Today.
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Denne historien er fra February 06, 2023-utgaven av India Today.
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Screaming Success
Now Funny, Now Scary, This Genre Has Come Of Age In Hindi Cinema, Pulling In Audiences And Monster Returns At The Box Office
KING OF FRUITS
Sopan Joshi's Mangifera indica: A Biography of the Mango is an immersive, behind-the-scenes look at the world's most delicious fruit
HAVING THE LAST WORD
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Indian Encore
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Charismatic Cat
Peppered with stunning illustrations, Caracal: An Intimate History of a Mysterious Cat is a deeply moving and meticulously researched account of the elusive felid
BETTER LATE THAN NEVER
After a pandemic-induced hiatus, actor Sharvari is riding high with several back-to-back releases-from Munjya to Maharaj and Vedaa
Trial by Fire
Hounded by allegations of conflict of interest in the Adani probe and rising discontent among her own staff, the Sebi chief has much to answer for-and disclose
WE WILL ROCK YOU
India's winter concert season is looking great, with leading international stars and bands set to captivate audiences
PK WALKS THE BIG POLL TALK
Prashant Kishor, the ace of the backroom, joins the battle for Bihar with lofty ambitions. Can his armoury of new ideas upset the old equations?
LORD of the ROLES
VIKKANT MASSEY is nothing if not versatile, straddling the worlds of independent and commercial cinema with élan