The Reserve Bank of India has released a Concept Note on Central Bank Digital Currency for India. The moto behind the release of a Concept Note on CBDC is to create awareness about Digital currencies in general and planned features of the Digital Rupee e₹
Concept Note explains the objectives, choices, benefits, and risks of issuing a CBDC in India along with RBI approach towards introduction of the CBDC. Concept Note provide information of key considerations such as technology and design choices, possible uses of Digital Rupee, issuance mechanisms, etc. It examines the implications of introduction of CBDC on the banking system, monetary policy, financial stability, and analyses privacy issues. RBI will soon commence pilot launches of e₹ for specific use cases.