Exclusive: RBI offers digital rupee G-Sec trading platform.
- On November 1, the Reserve Bank of India (RBI) gave nine banks the Negotiated Dealing System-Order Matching (NDS-OM) platform to trade government securities using the central bank’s digital currency as a trial project.
- New platform is called NDS-OM CBDC.
- On October 31, the RBI said the first digital rupee-wholesale (e-W) experiment will begin on November 1.
- The central bank selected State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank, and HSBC for the pilot project in this category. These banks will exchange government securities using digital money on the new platform.