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Reserve Bank of India (RBI)

RBI announces the launch of the first pilot for retail digital Rupee on Dec 1

The pilot will also test the robustness of the entire process of digital rupee creation, distribution, and retail usage in real time. Different features and applications of the digital token and architecture will be tested in future pilots, based on the learnings from this pilot, the RBI said in a statement.

RBI imposes Rs 1.25-crore penalty on Zoroastrian Co-operative Bank

The RBI statement said the statutory inspection of the bank was done by RBI with reference to its financial position as on March 31, 2020, and examination of the risk assessment report pertaining to the Forensic Audit Report (FAR) by an external auditor.