The e-Rupee will be completely in the form of an electronic voucher, which will not have to be carried with any print out. Nor will anyone have to give the print out of the e-voucher. Transaction through e-voucher will be done through verification code. It will not require any cash or card.
E-Rupi will be different from digital notes
The way has been cleared for the launch of India’s first e-rupee. e-rupee Will act like a digital currency. The special thing in this will be that there will be no need for electricity or internet for its use. Initially it will be used in limited quantity, later its scope will be increased. The Reserve Bank of India has released its concept note on Friday, in which many big information has been given. In the recent times, in view of the increasing incidents of banking fraud and fraud, the concept of e-Rupee has been kept which will be completely secure in transactions.
The government had already made it clear that it would not allow any cryptocurrency to run in India like bitcoin. It was also said that in the changing environment, virtual currency is also a fact, in view of which India will issue its own digital rupee. The form of the same is e-rupee. With this e-rupee, we will be able to do all those things, which we do with notes kept in pocket or wallet. Rather, transactions with e-Rupee will be faster and safer than notes kept in wallets.
How e-rupee will be different from note
Keep the note in the wallet, pocket or wallet. But e-rupee will be kept in e-wallet like Paytm or Google Pay etc. If someone wants to pay, we hand over the note to him or transfer funds to his account. There will be no need to hand over the e-rupee to anyone, but it will be digitally transferred to that person’s account. Just as there is no need for electricity or internet for the transaction of notes, similarly there will be no need for e-rupee. However, electricity and internet are required to run e-wallets like Paytm, Google Pay.
no bank account needed
No bank account will be required for e-rupee as is the case for other currencies. Payment through UPI wallet or card is done only if there is a bank account. But no bank account will be required in e-Rupee. A special type of e-voucher will be issued for the person who wants to make the payment. That person will be able to redeem the e-voucher.
4 big advantages of e-rupee
contactless– The e-Rupee will be in the form of a completely electronic voucher, which will not have to be carried with any print out. Nor will anyone have to give the print out of the e-voucher. Transaction through e-voucher will be done through verification code. It will not require any cash or card.
ease of redemptionFor this, there is a two-step redemption process through which payment can be made through e-Rupee. There is no possibility of payment being declined or payment failure as the payment amount is already saved in the e-voucher.
secure paymentThe person doing the e-rupee transaction does not have to give his personal information. Nor does any card or UPI information have to be given in it. In this way, the confidentiality of the data of the payer and the person receiving the payment is maintained.
work from mobile phone only– UPI Wallet or Internet Banking requires a digital payment app or bank account. But neither digital payment app nor any bank account is required for e-rupee.
These banks issued e-rupee
- state Bank of India
- HDFC bank
- Axis Bank
- Punjab National Bank
- Bank Of Baroda
- Canara Bank
- indusind bank
- ICICI Bank
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