The central bank-backed digital rupee for specified use cases will shortly be launched in limited quantities as a pilot project by the Reserve Bank of India.
The RBI said it has been researching the advantages and disadvantages of a central bank digital currency for some time and is developing a plan to roll it out gradually.
The RBI noted that use cases for an e-rupee are being looked at in a way that causes little to no disturbance to the financial system.
The Indian government had announced in February that a digital rupee would be introduced throughout this fiscal year.
