Deployments · platform by Reserve Bank of India

Reserve Bank of India retail digital rupee (e₹-R) pilotNew

The RBI's retail CBDC pilot, begun on 1 December 2022 in closed user groups of customers and merchants with four banks, followed by four more. The digital rupee is a token representing legal tender, held in banks' mobile wallets for person-to-person and merchant payments. In 2025-26 the RBI added user-level programmability, let BHIM find CBDC wallets, tested offline payments and saw government agencies use programmable e₹ for direct benefit transfers. e₹ in circulation fell to ₹771.7 crore at end-March 2026.

Pilot since 1 Dec 2022^[1]i — Still described by the RBI as a pilot. · Reviewed 13d ago i

Assets

Retail central-bank money^[1]

Retail digital rupee token (e₹-R)

Networks

Unknown ledger Not disclosed^[1]

Use cases i

Domestic payments^[2]Merchant payments^[1]Programmable payments^[2]Payouts^[2]

Jurisdictions

India

Participants

• Reserve Bank of IndiaPlatform provider, Issuer, Operator^[1]India
• State Bank of IndiaDistributor^[1][4]India
• ICICI BankDistributor^[1][4]India
• Yes BankDistributor^[1][4]India
• IDFC First BankDistributor^[1][4]India
• Bank of BarodaDistributor^[1][4]India
• Union Bank of IndiaDistributor^[1][4]India
• HDFC BankDistributor^[1][4]India
• Kotak Mahindra BankDistributor^[1][4]India
• Axis BankDistributor^[4]India
• Bank of IndiaDistributor^[4]India
• Bank of MaharashtraDistributor^[4]India
• Canara BankDistributor^[4]India
• Federal BankDistributor^[4]India
• IDBI BankDistributor^[4]India
• Indian BankDistributor^[4]India
• IndusInd BankDistributor^[4]India
• Karnataka BankDistributor^[4]India
• Punjab National BankDistributor^[4]India
• UCO BankDistributor^[4]India
• The RBI says non-banks also offer e₹ wallets in the retail pilot but does not name them in its FAQ.^[4]

Assets

• IssuesDigital rupee – retail (e₹-R) (e₹-R)^[1]

Metrics i

• 10,165,000,000 INRe₹ in circulation (all e₹) · as of 31 Mar 2025context^[3]
  ₹1,016.5 crore; RBI does not split retail and wholesale.
• 7,717,000,000 INRe₹ in circulation (all e₹) · as of 31 Mar 2026context^[3]
  ₹771.7 crore; RBI does not split retail and wholesale.

Timeline

1. Happened Mar 2026 (month only) · Scope expansion · recorded 15 Oct 2026
   Over 2025-26 the RBI adds user-level programmability, BHIM discovery of CBDC wallets and offline tests, and government agencies start programmable e₹ benefit payments.^[2]
2. Happened 1 Dec 2022 · Launch · recorded 15 Oct 2026
   First retail e₹ pilot starts in four cities with four banks in closed user groups; four more banks to join later.^[1]

Sources i