Given below are two statements, one labelled as Assertion (A) and the other labelled as **Reason (R):** Assertion (A):** The retail Central Bank Digital Currency (CBDC-R) or e-Rupee is designed as a non-interest-bearing instrument. **Reason (R):** If the e-Rupee were interest-bearing, it could lead to bank disintermediation as depositors might shift their low-interest savings accounts from commercial banks to the risk-free central bank ledger. Select the correct answer using the codes given below:

Options:

• A: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
• B: Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A).
• C: Assertion (A) is true but Reason (R) is false.
• D: Assertion (A) is false but Reason (R) is true.

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