Reliance Retail Becomes India’s First Retailer To Begin Accepting Digital Rupee

Reliance Retail Becomes India’s First Retailer To Begin Accepting Digital Rupee

Daily Current Affairs   /   Reliance Retail Becomes India’s First Retailer To Begin Accepting Digital Rupee

Change Language English Hindi

Category : Business and economics Published on: February 07 2023

Share on facebook
  • Reliance Retail has become India’s first retailer to begin accepting the Digital Rupee. 
  • Reliance has started accepting digital currency at its Freshpick stores in Mumbai.
  • It will soon accept the Digital Rupee at its 17,000 stores across 7000 cities and towns in India.
  • The Digital Rupee is India’s Central Bank Digital Currency (CBDC). It is a tokenized form of the Indian rupee, and uses blockchain technology to operate. 
  • The Digital Rupee is already being used for interbank transfers, and is also being piloted among small retailers in several cities in India.
  • To launch in-store support for the digital rupee, Reliance Retail has partnered with ICICI Bank, Kotak Mahindra Bank and Fintech Company Innoviti Technologies.
Recent Post's
  • Veteran ‘Don’ (1978) director Chandra Barot dies at 86 due to cardiac arrest in Mumbai.

    Read More....
  • M. Sreeshankar wins gold with 7.75m jump at World Athletics meet in Portugal.

    Read More....
  • Kerala launches Cy-TB test to detect latent TB infections under NTEP.

    Read More....
  • ISRO chief announces India’s plan for space station by 2035, moon mission by 2040.

    Read More....
  • July 20 celebrated as UN’s International Moon Day to mark Apollo 11 landing.

    Read More....
  • Koneru Humpy becomes first Indian woman to reach FIDE Women’s World Cup semifinals.

    Read More....
  • India sets record with four players in 2025 FIDE Women’s World Cup quarterfinals.

    Read More....
  • Saudi ‘Sleeping Prince’ Al-Waleed dies at 36 after 19 years in coma.

    Read More....
  • NCLT approves merger of Adani Cementation with Ambuja Cements.

    Read More....
  • Anvesh Tiwari launches India’s first fully AI-powered fintech platform ‘Nxtbanking’.

    Read More....