The Reserve Bank of India released a framework for the pilot phase of the Central Bank Digital Currency (CBDC) - Retail, known as e-Rupee (e&8377;-R), expanding its use among selected banks and customer segments. Under this framework, the digital rupee is designed to function as a sovereign legal tender similar to paper currency. What interest rate does the digital e-Rupee carry?

The Reserve Bank of India launched the Central Bank Digital Currency (CBDC), branded as the Digital Rupee (e-Rupee). Based on the operational framework, evaluate the following statements: 1. The Retail Digital Rupee (e-Rupee-R) represents a direct liability of the Reserve Bank of India, unlike commercial bank deposits which are liabilities of individual banks. 2. The Digital Rupee is interest-bearing, similar to a savings account deposit, to incentivise adoption over physical cash and reduce currency in circulation. 3. Retail CBDC is distributed to end-users through an intermediary model — participating commercial banks issue and manage e-Rupee wallets for their customers on behalf of the RBI. 4. India's CBDC architecture uses a centralised, permissioned ledger maintained by the RBI rather than a decentralised public blockchain. Which of the above statements is/are correct?

What does CBDC, introduced by the Reserve Bank of India (RBI), stand for?