Story Content

The Retail Digital Rupee (e₹-R) is India’s Central Bank Digital Currency (CBDC) issued by the Reserve Bank of India (RBI). It is the digital equivalent of physical cash (₹ notes and coins), offering the same trust, safety, and finality of settlement but in electronic form. Unlike bank deposits, it does not earn interest and is not a cryptocurrency.

How to Use Retail Digital Rupee:

• Download Wallet — Open an account with one of the participating banks (SBI, ICICI, HDFC, Axis, etc.). Download their official Digital Rupee / e₹ app from Play Store or App Store.
• Register & Load—Link your bank account, complete KYC, and load e₹ from your savings account or UPI.
• Transact—Send money to other users (P2P) or pay merchants (P2M) by scanning QR codes. It also supports offline transactions in tested areas.

Key Advantages: Real-time settlement, programmable money (for subsidies), cash-like privacy for small transactions, and suitability for areas with low internet connectivity. As of 2026, the pilot has expanded with millions of users and new features like UPI interoperability.

It complements UPI and aims to reduce cash dependency while boosting financial inclusion.