Which of the following statements about the Central Bank Digital Currency (linked to SDGs) are true?

1.From 1 December 2022, the e-Rupee is the digital legal-tender currency

2.It is in the same denominations as current paper currency and coins

3.Transactions are person-to-person and person-to-merchant using QR codes

4.The first phase is implemented by SBI, ICICI, Yes Bank and IDFC in select cities

A1, 2 and 3

B2, 3 and 4

C1 and 4

D1, 2, 3 and 4 ✓ Correct

Correct answer: (D) 1, 2, 3 and 4

Explanation

All four statements about the digital rupee are correct.

Statement 1 is correct: from 1 December 2022 the e-Rupee began as digital legal tender.

Statement 2 is correct: it comes in the same denominations as existing paper notes and coins.

Statement 3 is correct: transactions run person-to-person and person-to-merchant through QR codes.

Statement 4 is correct: the first phase involved SBI, ICICI, Yes Bank and IDFC in select cities.

The digital rupee is issued directly by the Reserve Bank of India.

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