Ans: Currently, opening of e₹ wallets is linked to user’s saving accounts. This linkage facilitates frictionless user onboarding and obviates the need for separate KYC requirement. Based on the feedback and emerging use cases, new models of user on-boarding are also being explored.

Ans: For ease of use, e₹ is available in the same denominations as physical currency. This provides the users with the same familiarity and convenience as with usage of physical currency notes.

Ans: The feature of providing the requisite change is available in all the e₹ wallets. For example, if one desires to purchase a ₹15 item from a merchant but has only ₹20 denomination available in the e₹ wallet, she/he can enter ₹15 in the amount field while sending the money; ₹15 will automatically be credited to the merchant while the balance ₹5 will be returned to the e₹ wallet.

Ans: Yes, the Digital Rupee (e₹) supports payments involving decimal or fractional values. Transactions can be made for any amount up to two decimal places, similar to other digital payment modes.

Ans: There are no charges or fees associated with using e₹ or e₹ wallets.

Ans: Users can raise disputes via their e₹ wallet app or reach out to their customer care centre.

Ans: Given the cash-like features of e₹, there is no interest payable on the wallet balances.

Ans: In terms of Section 26 of the Reserve Bank of India (RBI) Act, 1934, every e₹ bank note shall be legal tender at any place in India in payment or on account for the amount expressed therein and is guaranteed by the Central Government. e₹, being a digital form of the ₹ bank note, is legal tender and is the liability of Reserve Bank of India.

Ans: e₹ is a digital form of ₹ whereas UPI is a means of payment. In addition to being used for payments, e₹ also serves as a ‘store of value’, i.e., e₹ can be withdrawn from one’s bank account and kept separately in the e₹ wallet.

In the case of P2P and P2M payments made at any CBDC QR, the transactions happen between two e₹ wallets, and are settled instantaneously without passing through user’s bank accounts.

For P2P and P2M payments, the functionality of scanning a UPI QR from an e₹ app has also been enabled. In such cases, the settlement will be based on the UPI settlement timelines.

Ans: The offline feature of e₹ enables the user to transact in locations with limited or no internet connectivity. It is expected to mirror the advantages of physical cash, making it a reliable solution for usage in remote areas. Currently, different solutions are being explored. One solution facilitates P2P transactions without internet but still requires telecom connectivity, while another solution is being tested to enable offline P2M transactions on merchant POS terminals leveraging NFC communication.