The Reserve Bank of India recently launched digital ruppee (e₹), offering features similar to physical cash like convenience of use, guarantee of RBI, finality of settlement etc. The e₹ is stored in the user’s digital wallet and can be used to receive, send, money or make payment for transactions, just like any physical ₹ note.

Notably, the bank has added an offline feature of e₹, enabling the user to transact in locations with limited or no internet connectivity, mirroring the advantages of physical cash, making it a reliable solution for usage in remote areas.

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Different additional solutions are being explored currently, and one such solution facilitates transactions without the internet though it requires telecom connectivity. Another solution is testing transactions leveraging NFC communication too.

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The services are provided through e₹ wallets offered by banks and non-banks for person-to-person payments or person-to-merchant transactions. e₹ wallet stores the Digital Rupee, similar to the physical wallet/purse that stores the physical currency. It is available and supported both on Android and iOS mobile devices.e₹ wallets are being currently provided by banks and non-banks, which are part of the retail CBDC pilot.

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. Payments to merchants can be made by scanning either the CBDC QR code or the UPI QR code available at the respective merchant location.