RBI starts pilot of its digital currency, allows 9 banks to use it

India’s central bank started a pilot program of its digital currency Tuesday, allowing nine banks to use it for settling secondary-market transactions in government securities. 
 

The e-rupee is set to be test launched within a month for retail use in select locations and users, the Reserve Bank of India had said in a statement Monday. 

The limited roll-out comes a day after Singapore’s monetary authority unveiled trials of a digital version of its local dollar. The central banks of China, the euro area, the Bahamas and others have been experimenting in the field, while many others are examining ways to