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    Question

    Which of the following banks has implemented the first

    phase of the Reserve Bank of India's (RBI) Digital Rupee (eRs)?
    A Kotak Mahindra Bank Correct Answer Incorrect Answer
    B Axis Bank Correct Answer Incorrect Answer
    C HDFC Bank Correct Answer Incorrect Answer
    D IndusInd Bank Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Kotak Mahindra Bank Limited (KMBL) has implemented the first phase of the Reserve Bank of India's (RBI) Digital Rupee (eRs). KMBL is among the eight banks shortlisted by RBI to implement a pilot project for the issuance of Digital Rupee, a legal tender that is similar to banknotes and coins, issued in a digital form by RBI.Kotak Mahindra Bank has rolled out the Central Bank Digital Currency (CBDC) to a Closed User Group (CUG) of customers, which includes retail consumers and businesses. The bank will launch the Digital Rupee pilot in Mumbai, Delhi and Ahmedabad.

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