The Reserve Bank of India (RBI) has launched a pilot programme for digital rupees in four cities. E-rupees are digital cash or paper money. Take a look at how to use digital currency.
Ajeeta Bhatia
Customers will be able to make payments with digital rupees by scanning QR codes displayed at merchant locations, and the money will be deducted from their bank wallet, according to the RBI
The e-Rupee will be available in the same denominations as paper money and coins
Users will be able to transact with e-R using a digital wallet provided by participating banks
Customers can create a wallet containing e-R digital tokens and use it for a variety of transactions or use cases with participating banks in the pilot
Person to Person (P2P) and Person to Merchant (P2M) transactions are both possible with digital rupee
Users will be able to store digital rupees in the same way they store money in their Paytm wallet and use them for transactions as needed