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The e- rupee

Simply put, the retail e-rupee u2013 or the Central Bank Digital Currency-retail (CBDC-R) u2013 is a digital version of cash. It is legal tender issued by the central bank, but in electronic form. The e-rupee will be issued in the same denominations as currently available banknotes and coins. Users can transact via a digital wallet offered by their banks. <br>

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The e- rupee

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  1. Thee- rupee Best payment Gateway in India

  2. What is the e-rupee? Simply put, the retail e-rupee – or the Central Bank Digital Currency-retail (CBDC-R) – is a digital version of cash. It is legal tender issued by the central bank, but in electronic form. The e-rupee will be issued in the same denominations as currently available banknotes and coins. Users can transact via a digital wallet offered by their banks. 

  3. How is it different from UPI?  One of the motivations behind launching a digital currency is to reduce settlement risk in the system. In the case of UPI transactions, the transfer of money involves a settlement process, where you place a request with your bank and the funds are then deducted from your account and transferred to the beneficiary’s account. 

  4. How do we start using the e-rupee? For now, the trial will only cover selected consumers and businesses in a closed user group, with only certain cities and banks involved. When the e-rupee is rolled out, users will be able to download an app – for example, Yes Bank has launched its digital rupee app – from their banks and transact in digital rupees.      

  5. Thank you!

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