Retail CBDC pilot to kick off very soon

Banks participating in the trial project include SBI, BOB, UBI, ICICI Bank, HDFC Bank, and Yes Bank, among others. The CBDC platform will be identical to the UPI platform now in use and will be hosted by the NPCI.

For the pilot initiative, the central bank wants each bank to test the retail CBDC with between 10,000 and 50,000 consumers.

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