The Reserve Bank of India (RBI) will launch the nation`s first digital rupee pilot project for the wholesale segment.

• RBI in a statement said it will soon start pilot launches of Digital Rupee (ea,) for specific use cases.
• Accordingly, the first pilot in the Digital Rupee - Wholesale segment (ea,-W) shall commence on November 1, 2022.
• Retail segment (ea,-R) is planned for launch within a month in select locations in closed user groups comprising customers and merchants. 
• RBI has selected nine banks for participation in the digital rupee`s wholesale pilot project.