Will India’s e-rupee work? Bankers are not sure yet

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Just outside the Reserve Bank of India’s Monetary Museum – which charts the evolution of money, from barter to electronic transactions – Bachche Lal Sahani is testing the nation’s newest form of currency, the e-rupee. The 45-year-old fruit vendor is among the first retailers in India to use the central bank digital currency, the Reserve Bank of India, launched as a pilot on December 1, a month after the trial for wholesale, or interbank transactions, was rolled out. Since then, Sahani has recorded only about 30 purchases with the e-rupee, which is one of several digital payment options he offers...