The Reserve Bank of India (RBI) is expanding its pilot of the Central Bank Digital Currency (CBDC) to more banks and locations, according to its annual report. The aim is to add more use cases and features to the national digital currency this year. The CBDC-Retail pilot project, which started with four banks, is proposed to be expanded to include more participating banks and locations. Currently, five more banks are in the process of joining the pilot. The digital currency was first introduced in Mumbai, New Delhi, Bengaluru, and Bhubaneswar, and has since been made available in more cities.
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