Ans: Digital Rupee or e₹, is India’s Central Bank Digital Currency (CBDC). It is the digital form of India’s physical currency, the Rupee (₹). e₹ is issued by the Reserve Bank of India (RBI) in digital form and offers features similar to physical cash like convenience of use, guarantee of RBI, finality of settlement, etc. e₹ is stored in the user’s digital wallet and can be used to receive / send money, and / or make payment for transactions, just like any physical ₹ note.

The logo and tagline for India’s CBDC is as under:

Ans: e₹ can be held and transacted through e₹ wallets offered by banks and non-banks for person-to-person payments or person-to-merchant transactions. One can start using the e₹ wallet by downloading the e₹ app from the Play Store or the App Store and by following the App instructions. Detailed instructions on using the e₹ wallet can be checked with the banks and non-banks providing the wallet. Payments to merchants can be made by scanning either the CBDC QR code or the UPI QR code available at the respective merchant location.

Ans: e₹ wallet is a digital wallet that can be opened on one’s mobile phone/device. e₹ wallet stores the Digital Rupee, similar to the physical wallet/purse that stores the physical currency. e₹ wallets are being currently provided by banks and non-banks, which are part of the retail CBDC pilot.

Ans: e₹ wallets are safe and secure. There is a robust cyber-security framework to ensure that e₹ is kept secure in the user’s wallet. The e₹ stored in the e₹ wallet is safe even if the mobile device on which the e₹ wallet is installed is lost. The e₹ wallet can be recovered using the same phone number / SIM on a new mobile device.

Ans: e₹ wallet is available and supported both on Android and iOS mobile devices.

Ans: Creation and issuance of retail e₹ is identical to the arrangement for issuance of paper currency i.e., RBI creates e₹ and issues them to banks and non-banks electronically. Banks and non-banks, thereafter, are responsible for facilitating onboarding and opening e₹ wallets for their customers on their mobile phones. The e₹ issuance, distribution, and usage within the retail segment (for members of the public) is live in pilot mode with effect from December 1, 2022. The users and merchants of identified pilot banks and non-banks across the country can use e₹.

Ans: The e₹ pilots are a limited scale, controlled roll-out, to test the technology, architecture, scalability, application, features, use-cases and acceptance of e₹. The pilots aim to test the robustness of the entire process of e₹ creation, distribution, usage, etc.

Ans: Currently, users and merchants of identified pilot banks and non-banks across the country can use e₹. These customers can download the e₹ app of the bank or non-bank, register themselves, and start using the e₹ wallet to participate in the pilot.

Ans: Yes. e₹ can be loaded/redeemed/transferred from/to one’s bank account to/from the e₹ wallet 24 hours x 7 days a week.

Ans: No. There is no minimum balance required to open/maintain an e₹ wallet.