Reserve Bank OF India Announces Digital Rupee or E Rupee to launch on December 1st

A form of a Digital Token called as Digital Rupee or E-Rupee can stands in for real cash. The digital Rupee is issued in the same denominations as coins and paper currency unlike the cryptocurrencies.

On Tuesday, the Reserve Bank OF India reported that the launch of Digital Rupee or E-Rupee first retail pilot on December

1. To start RBI has collaborated with State Bank of India, Yes Bank, ICICI Bank and IDFC First Bank in New Delhi, Bangalore, Mumbai and Bhubaneswar at the beginning, the pilot will cover only the Close User Group (CUG) with participating customers and businesses, RBI said.

According to RBI, unlike crypto, the Digital Rupee or E-Rupee is a type of Digital Token that subtitles legal money, Digital currency is issued with the same values as coins and paper currency

According to the RBI said the Digital Rupee will be shared over go between like banks and commercials can make transact through Digital Wallet’s E-Rupee performed by the acceptable banks and commercial on electronic devices like Mobile phones.

How to Use Digital Rupee?