CBDC Digital Rupee - Central Bank Digital Currency
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  • NRI Services
  • Investors

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Digital Rupee (e₹) App

Digital Rupee app is a e₹ wallet application that enables users to conduct transactions using digital rupee tokens.
 It can be used to pay for goods & services and send money to anyone in form of digital currency.

 

Features of Digital Rupee Wallet

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Load e₹

Allows a user to load the digital rupee tokens in the wallet according to their denominations.

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Collect (Receive) e₹

Allows a user to request e₹ tokens from another user via a QR code

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Send (Transfer) e₹

Allows a user to pay for goods & services and send money to anyone in the form of e₹


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Redeem (Unload) e₹

Allows a user to withdraw available e₹ token balance from their wallet and transfer to their linked bank a/c

e₹ Wallet Registration

  • Step 1: Open Digital Rupee Application
  • Step 2: Select Sim Card for Verification
  • Step 3: Setup App PIN for Login
  • Step 4: Select Recoverable Wallet Type
  • Step 5: Set your Wallet PIN
  • Step 6: Link Your Kotak Bank Account
  • Step 7: Start using Digital Rupee Wallet

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Merchant Payments 

With a Digital Rupee wallet, you can now also pay a merchant at the retail outlet using Digital Rupee currency.
Click on the below link to know the list of nearby selected merchants where e₹ can be transacted.

Merchant List

 



For more details, refer to the Concept Note of CBDC from RBI

Please click here for Terms & Conditions for the Digital Rupee Cashback in Kotak e₹ wallet

Terms and conditions

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Frequently Asked Questions

What is Digital Rupee (e₹)?

India’s CBDC also known as Digital Rupee (e₹) is a digital form of physical currency denomination issued by the Reserve Bank of India. 

It is an electronic version of cash primarily meant for retail transactions. It would be potentially available for use by all private sector, non-financial consumers, and businesses.

Why issue a Digital Rupee?

  • Reduction in operational costs involved in physical cash management
  • Improve the efficiency of payment systems providing more secure and faster settlement finality.
  • To transform into a digitally empowered cashless society
  • Competition from private unregulated cryptocurrencies

What is Token-Based CBDC?

A token-based CBDC is a bearer instrument like bank notes in digital form, meaning whosoever holds the digital tokens at a given point in time would be presumed to own them. It is the preferred mode for Retail CBDC as it would be closer to physical cash.

Is Digital Rupee accepted outside India?

No. e₹ can be used to pay for goods & services and send money to friends and family in form of digital tokens only in India.

How e₹ is different from UPI or other modes of fund transfers?

e₹ is a digital form of physical currency. Its usage is not only limited to payments but also serves the purpose of parallel currency and importantly, ‘store of value' as it represents a currency issued by the Reserve Bank of India. UPI or other modes of fund transfers like NEFT / RTGS / IMPS are forms of payment.