E-rupee for retail users to be launched this month: RBI governor
The central bank aims to keep retail inflation within 2 percentage points on either side of its 4% target over the medium-term
The RBI has started a pilot program of its digital currency from Tuesday, allowing select banks to use it for settling secondary-market transactions in government securities.
On Day 1, banks traded ₹275 crore of bonds on the first day using the new form of currency. The retail part of the trial of e-rupee will be launched this month.
Reserve Bank of India's monetary policy committee (MPC) will meet on Thursday, outside its scheduled meetings, to discuss its first ever inflation target miss, which will require it to write a letter to the government.
The central bank aims to keep retail inflation within 2 percentage points on either side of its 4% target over the medium-term.
Here is what RBI chief Shaktikanta Das said today at a banking conclave organized by Federation of Indian Chambers of Commerce and Industry (FICCI) and Indian Banks' Association (IBA).