RBI has said that the retail digital rupee (e-R) pilot will launch on December 1 with four banks - State Bank of India, ICICI Bank, IDFC First Bank and Yes Bank. The project will be run in Mumbai, New Delhi, Bengaluru, and Bhubaneswar. The digital rupee is the RBI's digital currency, which the central bank launched earlier this month for wholesale transactions in government securities.
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