<h1>RBI Launches Digital Rupee Pilot for Retail in Major Cities with Eight Banks Testing eRs. Wallets.</h1> The Reserve Bank of India (RBI) initiated a pilot for the Digital Rupee (eRs. -R) in the retail segment on December 1, 2022, as announced by a government official. The pilot involves a closed user group in Mumbai, New Delhi, Bengaluru, Bhubaneswar, and Chandigarh, using a digital token as legal tender. Distributed through banks, the eRs. -R mirrors physical cash in trust and safety but earns no interest. Eight banks, including major national banks, are part of the trial, selecting participants for testing. A distinct eRs. wallet is developed for transactions via mobile devices, integrating into the currency system.