Patna becomes the first municipal corporation to use CBDC in the country

Current Affairs

  • According to the information received from the media on 23 May 2023, the Mayor, Deputy Mayor and Municipal Commissioner of Patna Municipal Corporation of Bihar launched the digital currency E-Rupee generated by the Reserve Bank of India due to which now this digital currency will be used in the entire Patna Municipal Corporation area.
  • From payment to other work, erupees will also be used.
  • This payment system will be completely adopted in the Municipal Corporation Headquarters Mauryalok Complex.
  • Patna Municipal Corporation is the first Municipal Corporation in India to use CBDC (Central Bank Digital Currency).
  • During this, a workshop was also organized for the corporators, where they were informed about the benefits and uses of digital e-rupee.
  • Apart from increasing the income of Patna Municipal Corporation through online payment system, facilities are being made available to the common people sitting at home, free of cost.
  • He said that at present 30 percent online payment is being done in Patna Municipal Corporation; the target is to increase it to 90 to 95 percent.
  • Central Bank Digital Currency (CBDC): e₹-R in the form of a digital token that represents legal tender.
  • The first pilot of the Digital RupeeRetail segment (e₹-R) was launched by the Reserve Bank of India (RBI) on December 01, 2022.

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