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ARTICLE · 02 OCTOBER 2023

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E-Rupee: The Central Bank Digital Currency Initiative Of RBI

Lex Orbis
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The Reserve Bank of India is India's central bank and is responsible for the formulation and regulation of India's monetary policy and management of currency in India.

IndiaTechnology
Puja Tiwari
Puja Tiwari
Nisha Sharma
Nisha Sharma
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The Reserve Bank of India is India's central bank and is responsible for the formulation and regulation of India's monetary policy and management of currency in India. It also regulates the banking and non-banking financial institutions in the country, along with foreign exchange and money markets. It is the issuer of currency, tasked with the formation, production, and complete supervision of the national currency. With more technological disruption in critical sectors including the finance sector, the RBI has been constantly engaged in launching myriad initiatives towards the digitalisation of the finance markets. Initiatives to promote fintech innovation and businesses, protection of financial data, digital KYC, etc., are some of these initiatives. Similarly, in furtherance of its initiative to create a Central Bank Digital Currency i.e., a digital form of the Indian Rupee, the RBI recently came up with a digital form of rupee i.e., e-Rupee.

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