The Reserve Bank of India (RBI), the country’s central bank, has reportedly launched the pilot for the digital rupee for the wholesale segment on 1 November. The pilot will include nine banks, including the State Bank of India, the biggest bank in the country. The use case will be to settle secondary market transactions in government securities at lower transaction costs. The digital rupee is expected to increase efficiency in the interbank market. The central bank also plans to launch digital rupee for the retail segment within a month in select locations.