Last November, the Reserve Bank of India launched its first wholesale CBDC pilot to settle government bond transactions. This week it started using the central bank digital currency (CBDC) in the call money markets for interbank lending, MoneyControl reported. The central bank has not confirmed the news but previously stated it was planned.
By February enthusiasm waned for the government bond settlement pilot and several days passed with zero transactions.
The latest pilot involves the same nine banks as the first pilot, with the addition of Federal Bank.
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