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Reliance accepts CBDC
February 10 , 2023
654 days
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- Reliance Retail has recently announced that it has started accepting retail payments via the RBI’s Digital Rupee.
- Thus, it becomes the first Indian retailer to accept Central Bank Digital Currency (CBDC).
- The Reserve Bank of India launched the first pilot of its retail Digital Rupee on December 1, 2022.
- This currency is available in the form of a digital token that represents legal tender.
- The Central Bank Digital Currency (CBDC) has also been issued in the same denominations that paper currency and coins.
- The CBDC is the digital version of fiat money that will co-exist will hard cash.
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