In the current fiscal year, the Reserve Bank of India (RBI) intends to introduce the Digital Rupee, India’s own Central Bank Digital Currency (CBDC). The CBDC would be implemented gradually, initially just for wholesale businesses, claims a BS report citing sources. The research claims that the Digital Rupee is made in a way that prevents users from maintaining their anonymity. The CBDC would initially be made available to the retail and wholesale segments, according to media sources from last month. Choudhary added that the RBI Act of 1954 was revised by the Finance Act of 2022 to enable the implementation of the CBDC by the central bank this year. The RBI Act was changed in several places to incorporate CBDC banknotes.