The post India To Test “E-Rupee” Digital Currency Soon appeared first on Coinpedia Fintech News

The national cryptocurrency, “E Rupee,” backed by India’s central bank, is soon to be tested in select pilot launches.

According to a report issued by the Reserve Bank of India on Friday, the agency has recommended a staged trial of its version of a CBDC (Central Bank Digital Currency).

In a “concept note,” the central bank of India described its concept for a digital version of the rupee known as the e-rupee. It also outlined why a central bank digital currency would be implemented and how it would be evaluated in stages.