The Digital Rupee (e₹) is India’s central bank digital currency (CBDC) issued by theReserveBankofIndia(RBI).Itwas launchedon December1,2022,following initial proposals in January 2017.Digital Rupee is using blockchain

distributed–ledger technology. Two pilot programs were initiated: e₹–W for wholesale transactionsin government securities from November 1, 2022, and e₹–Rforretailtransactionswith selected banks from December 1, 2022. The RBI plans to expand these pilots by gradually involving more banks and users based on feedback. e₹-R functions like physical cash, distributed through banks, and allows Person-to-Person (P2P) and Person-to-Merchant (P2M) transactions, with no interest earnings.The implementation of the Digital Rupee aims to

remove the security printing cost borne by the general public, businesses, banks, and RBI on physical currency which amounted to ₹49,848,000,000.