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The digital version of the rupee would be distributed in the same range of values as the existing physical currency
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As the Reserve Bank of India (RBI) supports this digital currency, which is also known as Central Bank Digital Currency
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The central bank reports that eight financial institutions have been selected to participate in this trial programme
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On the other hand, the virtual rupee issued in India, can be traded in at commercial banks in exchange for physical cash
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There is a distinction between the digital rupee and other types of cryptocurrencies since the digital rupee is unique
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To trade in actual rupees, you would need a bank account; however exchanging digital rupees does not need a bank account
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Users will be able to purchase digital Rupees from the aforementioned four selected banks using the official app or website