What is e-Rupee and How to use e- rupee

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Table of Contents

Introduction : Before knowing use of e-Rupee we have to know..

What is e-Rupee ?

e-Rupee is the tokenised digital version of indian currency issued by Reserve Bank of India. Just like Bitcoins,but e-Rupee is fully centralised sovereign currency. It is very much similar to our hard Cash Currencies.
 

Now the question is how does e-Rupee look like ?

Well e-Rupee does not have any physical existence but for our satisfaction RBI issued the images the form of they exist.

This is how our newly introduced digital currency looks like !

Difference between e-Rupee and Bitcoin

As we all know Bitcoin is a blockchain technology based on public blockchain. Where no government have control on it therefore it’s value is not stable,can fluctuate Anytime, Because of that it’s very risky to put our trust and one most important thing Bitcoin is not a legal tender in India Whereas e-Rupee is blockchain technology based on private blockchain where our Indian government have full control on it. the value of e-Rupee backed by RBI so that it is very stable currency and the last thing is It is a legal tender in India. we can use e-rupee instead of cash, actually we have to use e-rupee instead of cash in near future.

Now we remain with one Doubt, if we have upi already what is need of e-Rupee or what is the motive behind the introduction of new technology like e-Rupee ?

Motive of RBI for introducing e-Rupee!

 

As we all know Bitcoin is a blockchain technology based on public blockchain. Where no government have control on it therefore it’s value is not stable,can fluctuate Anytime, Because of that it’s very risky to put our trust and one most important thing Bitcoin is not a legal tender in India Whereas e-Rupee is blockchain technology based on private blockchain where our Indian government have full control on it. the value of e-Rupee backed by RBI so that it is very stable currency and the last thing is It is a legal tender in India. we can use e-rupee instead of cash, actually we have to use e-rupee instead of cash in near future

Where to use e-rupee ?

 

As of now the usage of e-Rupee is invite only program with only registered banks. For use of e-Rupee ( if you got invite from the bank ) you have to download your bank’s e-Rupee app and register with your bank linked mobile number

List Of bank Integrated with e-Rupee ↓

  1. State bank Of India 
  2.  Bank of Maharashtra
  3.  Bank of India
  4.  Federal bank
  5.  Axis bank
  6.  ICICI bank
  7.  HDFC bank
  8.  IndusInd bank
  9.  Indian bank
  10.  Indian overseas bank
  11.  Karnataka bank
  12.  Karurvyasa bank
  13.  Kotak bank
  14.  Au small finance bank
  15.  Paytm payments bank
  16.  Punjab national bank
  17.  Union bank of India
  18.  UCO bank
  19.  Central bank of India
  20.  Canara bank
  21.  Bank of Baroda 

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