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RBI likely to start digital rupee pilot in call money market by October

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The Reserve Bank of India is likely to launch the pilot of Central Bank Digital Currency (CBDC) for transactions for interbank borrowing or call money market by October, central bank Executive Director Ajay Kumar Choudhary said on Sunday.

The Reserve Bank of India (RBI) has recently scaled the pilot of Central Bank Digital Currency (CBDC) or e-rupee for the retail sector.(Shutterstock)
The Reserve Bank of India (RBI) has recently scaled the pilot of Central Bank Digital Currency (CBDC) or e-rupee for the retail sector.(Shutterstock)

ALSO READ – Explained: How Reserve Bank’s e-rupee is different from UPI?

The pilot of the wholesale CBDC, known as the Digital Rupee-Wholesale (e-W), was launched on November 1, 2022, with the use case being limited to the settlement of secondary market transactions in government securities.

“The RBI will introduce the wholesale CBDC in the call market either this month or next month,” Choudhary said on the sidelines of the G20 Leaders’ Summit here.

The introduction of CBDC was announced in the Union Budget 2022-23 by Finance Minister Nirmala Sitharaman and necessary amendments to the relevant section of the RBI Act, 1934, were made with the passage of the Finance Bill 2022.

The RBI picked nine banks — State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, YES Bank, IDFC First Bank and HSBC — for its pilot project for wholesale CBDC.

Besides, the central bank has already rolled out a pilot in the retail version of the CBDC (e-R) on December 1, 2022. The e-R is in the form of a digital token that represents legal tender.

It is being issued in the same denominations as the paper currency and coins. It is being distributed through financial intermediaries like banks. Users can transact with e-R through a digital wallet offered by the participating banks.

The RBI is showcasing various digital initiatives in the financial sector at the exhibition pavilion during the G20 Summit.

These include Public Tech Platform (PTP) for Frictionless Credit, CBDC, UPI One World, RuPay On-The-Go and Bharat Bill Payment System.

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Vanessa Kirby Personifies Sarah Burton’s Givenchy at the Fall 2025 Show

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Vanessa Kirby made a striking appearance at Sarah Burton’s highly anticipated inaugural Givenchy runway show for Fall 2025, embodying the essence of the designer’s vision. As a longtime admirer of Burton’s work, the Fantastic Four: First Steps star was eager to witness the debut collection in Paris.

“I really wanted to be here in Paris for Sarah’s first show,” Kirby expressed with enthusiasm. “Sarah has been my favorite designer for years. I absolutely love everything she does—I think she’s a master. She designs clothes truly for women—always extraordinary, feline, and structured in a way that makes you feel so empowered.”

Having collaborated with Burton throughout her tenure at Alexander McQueen, Kirby’s presence at the show was a testament to their ongoing creative synergy. Dressed in a sleek black ensemble with sharp shoulders and a plunging V-neck, Kirby’s outfit embodied Burton’s signature aesthetic: a balance of strength and femininity. “The dress we chose felt very classic—the shape felt architectural and strong, but also daytime and relaxed,” she noted.

Following the intimate runway presentation, Kirby joined an exclusive gathering of fashion and film’s elite at a celebratory dinner honoring Burton’s Givenchy debut. Among the attendees were Rooney Mara, Gwendoline Christie, Raye, Alex Consani, and Yseult, all raising a toast to the designer’s new chapter.

Reflecting on the experience, Kirby shared her admiration for the energy of Paris Fashion Week. “I associate Paris with the amazing shows that happen every year. The shows themselves feel like a real reveal—seeing what Sarah has been working on for months for her first Givenchy collection. Everyone was so excited to see her vision.”

With Burton’s Givenchy era now officially underway, Kirby’s presence at the event was a fitting tribute to the designer’s ability to craft powerful, empowering fashion for the modern woman.

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Zoey Deutch’s Effortless Chloé Look at Paris Fashion Week

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Paris Fashion Week is in full swing, and Zoey Deutch was among the stars braving traffic and freezing temperatures to attend the highly anticipated Chloé show on Thursday. The event, held at the Tennis Club de Paris, marked creative director Chemena Kamali’s celebration of “soft strength.”

Behind the Scenes: Zoey’s Getting-Ready Process

Before stepping out, Deutch gave ELLE an exclusive look at her transformation into the perfect Chloé-girl—a balance of effortlessness and elegance.

Makeup by Hung Vanngo: Soft, fluffy brown lashes and a rosy blush moment for a natural glow.
Hair by Rebekah Forecast: With her pixie cut growing out, she opted for a loose, undone bun to complement the look.
Accessories: Unable to pick just one statement piece, Deutch embraced gold and seashell accessories, layering a necklace, statement earrings, and rings for a playful yet sophisticated vibe.

The Chloé Aesthetic: Feminine & Free-Spirited

Zoey’s look perfectly embodied Chloé’s signature effortless femininity—a blend of soft, undone beauty and refined details. Despite the cold and the Parisian traffic, she arrived at the show looking polished yet relaxed, proving that true style is all about confidence and comfort.

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Rabanne Fall/Winter 2025: A 1960s Beauty Revival

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Rabanne’s Fall/Winter 2025 show was a glamorous throwback to 1960s Paris, with big bouffant hair and bold, smoky eyes dominating the runway. The iconic French-girl aesthetic was on full display, blending vintage inspiration with modern edge.

The Makeup: Statement Eyes & Subtle Rebellion

Rabanne Beauty’s creative director, Diane Kendal, crafted a striking yet effortless makeup look that channeled icons like Brigitte Bardot and Catherine Deneuve. Models wore slightly winged, waterline eyeliner and taupe-hued smoky eyeshadow, smudged across the lids and under the eyes for a soft but dramatic effect.

Kendal, known for pushing beauty boundaries, chose to highlight natural skin while focusing on bold eye makeup—a subtle rebellion against the typical all-over glam seen on high-fashion runways. This “done-yet-undone” style perfectly complemented Rabanne’s flamboyant fabrics, sparkles, and sequins.

Hair: The Return of the Bouffant

Fluffy, voluminous bouffants were the crowning statement of the show. The models’ teased, combed-back hair added a touch of vintage glamour, reinforcing the collection’s nostalgic yet playfully modern feel.

Rabanne’s Beauty Revolution

Rabanne Beauty continues to redefine makeup with gender-neutral, statement-making products. The runway featured some of its standout offerings, including:

Shimmer Bomb – An all-over glitter spray for an extra dose of Rabanne’s signature glitz.

Top Coat Mascara – A silver and gold formula that gave lashes a tinsel-like effect.

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