On Tuesday, November 29, Reserve Bank of India (RBI) has announced the launch of Central Bank Digital Currency (CBDC). This is the India’s first Digital Rupee Pilot project, which will be launched on Thursday, December 1. This project will initially cover the four cities – Mumbai, New Delhi, Bengaluru and Bhubaneswar, where consumers and merchants will be able to use the digital rupee or e-rupee. Notably, the RBI has partnered with four banks including State Bank Of India, ICICI Bank, Yes Bank and IDFC First Bank in these four cities. As per reports from the RBI, the pilot will be subsequently extended to the cities of Guwahati, Ahmedabad, Gangtok, Hyderabad, Indore, Kochi, Lucknow, Patna and Shimla. Moreover, more banks will join the pilot in upcoming times.