Many are believed to have been buried in mass graves after being tortured in jails during a war that has killed more than half a million people
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The central bank of India has announced the first pilot for the retail digital rupee which will take place on December 1, 2022.
A press release by the Reserve Bank of India said that the pilot would cover select locations in closed user group (CUG) comprising participating customers and merchants.
The e₹-R would be in the form of a digital token that represents legal tender. It would be issued in the same denominations that paper currency and coins are currently issued.
Users will be able to transact with the e-Rupee through a digital wallet offered by participating banks and those that are stored on devices.
Eight banks have been identified for phase-wise participation in this pilot. The first phase will begin with four banks, which are: State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank in four cities across the country.
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