Reserve Bank of India released the Central Bank Digital Currency (CBDC) Concept Note PDF on its official website rbi.org.in. The note explains the objectives, choices, benefits and risks of issuing a CBDC in India, along with the planned features of the Digital Rupee (e₹).
RBI issued the concept note to create awareness about CBDCs in general and the planned features of Digital Rupee (e₹), in particular. The note also explains the Reserve Bank's approach towards introduction of the CBDC in the country.
Central Bank Digital Currency (CBDC) Concept Note
Concept Note on Central Bank Digital Currency explains the objectives, choices, benefits and risks of issuing a CBDC in India. The RBI Digital Currency Concept Note also explains the Reserve Bank of India's approach towards introduction of the CBDC. The note discusses key considerations such as technology and design choices, possible uses of Digital Rupee, issuance mechanisms, and more.
The note also examines the implications of the CBDC on the banking system, monetary policy, financial stability, and analyses privacy issues. CBDC is a digital form of currency notes issued by a central bank. It offers an additional option to the currently available forms of money, and being digital, it is likely to be easier, faster and cheaper than physical cash.
Digital Rupee (e₹) Pilot Status in 2026
After releasing the concept note, RBI started pilot launches of e₹ for specific use cases. The retail CBDC pilot launched on 1 December 2022, while the wholesale CBDC pilot started on 1 November 2022. As of 2026, the retail pilot is running across many cities with 19 banks offering CBDC wallets to users.
In the wholesale segment, 16 participants including banks and non-banks are part of the pilot. The wholesale CBDC (e₹-W) is used for settlement of secondary market transactions in government securities, inter-bank lending in the call money market, and tokenised issuance and settlement of certificates of deposit.
RBI has added new features to the Digital Rupee over time. The programmability feature allows the government or a corporate to make sure that funds in CBDC wallets are used for a specific purpose, such as Direct Benefit Transfer (DBT) payments or interest subvention. The offline feature enables transactions in areas with limited or no internet connectivity.
In 2026, RBI announced the Digital Rupee Retail Pilot Phase II, which began on 28 May 2026, expanding CBDC accessibility and features. The government also started a pilot to use Digital Food Currency under the CBDC, targeting beneficiaries in Chandigarh, Puducherry and three districts of Gujarat, to run the food security program through digital payments.
| Detail | Information |
|---|---|
| Scheme Name | Central Bank Digital Currency (CBDC) |
| Issued By | Reserve Bank of India |
| Concept Note Released | 7 October 2022 |
| Digital Currency Name | Digital Rupee (e₹) |
| Retail Pilot Launch | 1 December 2022 |
| Wholesale Pilot Launch | 1 November 2022 |
| Banks Offering e₹ Wallets | 19 banks (as of 2026) |
| Official Website | rbi.org.in |
How to Download the CBDC Concept Note PDF
The CBDC Concept Note is available on the official website of the Reserve Bank of India. Follow the steps given below to download the PDF.
STEP 1 - Go to the official website of the Reserve Bank of India at rbi.org.in and open the Reports section.
STEP 2 - Look for the Concept Note on Central Bank Digital Currency under the reports or publications list.
STEP 3 - Click on the PDF link for the CBDC Concept Note and download the file to your device.
Users can also check the latest details about the Digital Rupee on the official RBI Digital Rupee FAQ page, which is updated regularly with the pilot status and features.
FAQ's
What is CBDC?
Central Bank Digital Currency (CBDC) is a digital form of currency notes issued by a central bank. In India, the CBDC is called Digital Rupee (e₹), and it is issued by the Reserve Bank of India.
Is Digital Rupee legal tender?
Yes. As per Section 26 of the RBI Act, 1934, every e₹ bank note is legal tender at any place in India and is guaranteed by the Central Government.
How can one use the e₹ wallet?
Users can download the e₹ app of a participating bank or non-bank from the Play Store or App Store, register themselves, and start using the e₹ wallet for payments.
Are there any charges for using e₹?
No. There are no charges or fees for using e₹ or e₹ wallets. Also, no minimum balance is required to open or maintain an e₹ wallet.