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My short and hot take on the newly launched e₹-R.

By now you guys would have read that RBI launched the e₹-R pilot on Dec 01, 2022. Here are the details of the pilot from RBI- https://lifeofaguineapig.wordpress.com/wp-content/uploads/2022/12/pr12755768c88d86624673a14b2c7f5cf68908.pdf

In short, the pilot has begun with a few banks in some cities. This will give us a better sense of possible use cases for e₹. From what I have read & watched till now on this pilot it appears that just like fiat, we will be able to get notes and coins in the denominations we want, directly from RBI and then use them to make P2P payments. One BIG question though, for which I dont have an answer yet is- lets say I chose to only get e₹-20 from RBI. Now, if I am making a payment of e₹-18 to a vendor and he doesn’t have e₹ coins for Rs 1, 2 (as is common if you are delaing in fiat currency). What will happen in that case? Is e₹ going to boost sales for Perfetti Van Melle??

I sincerely hope that’s not the case, but to my limited understanding as of now, I fear this might be true!

This above example was brought up by a colleague while we were discussing e₹-R.