Kotak Mahindra Bank Limited is one of the eight banks shortlisted by the Reserve Bank of India (RBI) to implement a pilot project for issuing of Digital Rupee (e₹) KMBL has rolled out the Central Bank Digital Currency (CBDC) to a closed group of customers.
Deepak Sharma, President & Chief Digital Officer, Kotak Mahindra Bank said, “We are delighted to be a part of RBI’s initial pilot of Digital Rupee.” The e-wallet will be accessible for download on Android operating system smartphones. Customers will be asked to set up an app PIN, enter name and select recoverable wallet type.
Kotak Mahindra Bank will launch the Digital Rupee pilot in Mumbai, Delhi and Ahmedabad. Limited customers will be sent an email/SMS invite to download the Digital Rupee app. The digital rupee wallet operates in a similar way as a physical wallet but in a digital form, and will be accessible for download on Android operating system smartphones.
