Browsing: Rupees

The Reserve Bank of India (RBI) allowed HDFC Bank Ltd. and Canara Bank Ltd. to open Vostro accounts for carrying…

The digital rupee pilot project has been started in the Wholesale segment from November according to the statement of RBI on ‘Operationalization of Central bank digital currency – Wholesale pilot project. According to the RBI it is a step to make the inter-bank market more efficient. Th settlement in central bank money would reduce transaction cost. Based on the learning from the first phase of the pilot project , the future ones will focus on other wholesale transactions and cross-border payments