According to a statement from RBI, the pilot would cover select locations in closed user group (CUG) comprising participating customers and merchants. The eRs-R would be in the form of a digital token that represents legal tender.
The robust inflows of foreign funds, relative strength of the Rupee, and hint by the US Fed on slowing down on policy rates supported Indian stock markets.
Broader market indices mirrored the gains in headline indices. Petrochemical converters led the gains, with RIL jumping over 3 per cent and automobile stocks also booked sharp gains.
At the time of writing this report, Sensex traded at 62,393.27 points, up 99.63 points or 0.16 per cent, whereas Nifty traded at 18,536.10 points, up 23.35 points, up 0.13 per cent.
Among the broad-based indices, BSE SmallCap dropped 74 points to 62,197.70 with ITDC, Religare, Finolex Industries amongst the gainers on the index.
BSE MidCap lost 130 points to 62,142.17, with Bank of India, IOB, Max Health and GSPL amongst the active stocks on the index while BSE LargeCap
At the time of writing this report, Sensex traded at 61,519.68 points, up 100.72 points or 0.16 per cent, whereas Nifty traded at 18,275.75 points, up 31.55 points or 0.17 per cent.
At 9.47 am, Sensex traded at 61,235.72 points, up 90.88 points or 0.15 per cent, whereas Nifty traded at 18,180.70 points, up 20.75 points or 0.11 per cent.
The dam was closed after a blockage was detected in the 3.5-km Tail Race Tunnel. The total cost of its repair is estimated to come to about 2.5 billion Pakistani rupees.