Digital Rupee FAQs

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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.

Is Digital Rupee (e₹) the same as Bitcoins or other forms of cryptocurrencies?

e₹ is not a cryptocurrency. It is a legal tender similar to physical currency available in digital form issued and regulated by the Reserve Bank of India. It holds unique advantages of central bank money viz. trust, safety and settlement finality.

Who can use the digital rupee (e₹) in the pilot phase?

In the initial pilot, only a limited Kotak Bank customers who have received an invitation to participate will be able to register on the Digital Rupee (e₹) app. It is currently available in selected 80 cities:

1	Agartala	31	Jamshedpur	61	Rohtak
2	Agra	32	Jodhpur	62	Salem
3	Ahmedabad	33	Kancheepuram	63	Sangareddy
4	Amritsar	34	Kanpur	64	Shimla
5	Anantpur	35	Khammam	65	Siddipet
6	Aurangabad	36	Kochi	66	Siliguri
7	Bellary	37	Kolkata	67	Surat
8	Bengaluru	38	Kota	68	Thanjavur
9	Bhopal	39	Kozhikode	69	Thirunelveli
10	Bhubaneswar	40	Lucknow	70	Thiruvananthapuram
11	Bilaspur	41	Ludhiana	71	Thrissur
12	Chandigarh	42	Madurai	72	Tirupati
13	Chennai	43	Mangalore	73	Trichy
14	Coimbatore	44	Medchal	74	Udaipur
15	Dhanbad	45	Moradabad	75	Udupi
16	Durgapur	46	Mumbai	76	Vadodara
17	Gangtok	47	Muzaffarpur	77	Varanasi
18	Gaya	48	Mysore	78	Vijayawada
19	Goa	49	Nagpur	79	Vishakhapatnam
20	Gorakhpur	50	Nalgonda	80	Warangal
21	Guwahati	51	Nashik
22	Gwalior	52	New Delhi
23	Hubli	53	Nizamabad
24	Hyderabad	54	Patna
25	Indore	55	Pondicherry
26	Jabalpur	56	Prayagraj
27	Jaipur	57	Pune
28	Jalandhar	58	Raipur
29	Jammu	59	Rajkot
30	Jamnagar	60	Ranchi

Our customers can participate via an SMS/WhatsApp/Email invitation sent to their registered mobile number and email ID. The e₹ app is available on Android as well as iOS devices.

How can a user access the digital rupee issued by RBI?

The user will have to download the Digital Rupee wallet application for accessing digital rupee. The e₹ wallet will enable users to conduct transactions in form of digital rupee tokens issued by RBI.

What are the primary features for which Digital Rupee wallet can be used?

The Digital Rupee wallet application's primary features are listed below:

Load e₹: This feature allows users to load the digital rupee tokens in the wallet according to their denominations.
Send e₹: This feature allows users to pay for goods & services and send money to friends and family in form of digital rupee.
Collect e₹: This feature allows users to request digital rupee from other digital rupee wallet user.
Redeem e₹: This feature allows users to withdraw available digital rupee balance from their wallet and transferred it to their linked bank account.

What is a recoverable wallet?

In the recoverable wallet type, the user will be able to recover his digital rupee wallet and the available wallet balance in the event of mobile device is change or loss.

What is a Full KYC wallet?

The Digital Rupee wallet will be considered a full KYC wallet once the user has linked their Kotak bank account with the wallet.

How can I load e₹ in my Digital Rupee wallet account?

Step 1 – Log in to Digital Rupee app, click the “Load” option

Step 2 – Enter e₹ amount or select the digital rupee denominations to be loaded

Step 3 – View the Digital Rupee selected and click on the “Load Digital Rupee” option

Step 4 - You can load digital rupee via “Linked Bank account”.

Step 5 - Select the “Linked Bank account” and click on “Load Digital Rupee”.

Step 6 -The linked bank account will be debited and digital rupee will be credited in the e₹ wallet.

How can I redeem/unload e₹ from my digital rupee wallet account?

Step 1 – Log in to Digital Rupee app, click the “Redeem” option

Step 2 – Select the digital rupee tokens to be redeemed

Step 3 – View the digital rupee selected and Click on “Redeem Digital Rupee”

Step 4 – Select the linked bank account and click on “Redeem Digital Rupee” to authorise the transaction by entering a wallet PIN.

Step 5 – The digital rupee will be debited from wallet account and the linked bank account will be credited with the redeemed amount.

How can I send (transfer) e₹ to another person’s digital rupee wallet?

Step 1 - Log in to Digital Rupee app, click the “Send” option

Step 2 – You can choose to pay/transfer digital rupee via Phone number or by scanning the e₹ QR code

Step 3 – You will need to verify the beneficiary name and enter the e₹ amount or select the digital rupee denominations available in your wallet account

Step 4 – Click on the “Send Digital Rupee” option and authorise transaction through wallet PIN

Step 5 – The digital rupee will be debited from wallet account and the beneficiary wallet account will be credited.

How can I initiate a collect (receive) digital rupee request?

You can initiate a collect request for digital rupee via generating collect request QR from the Digital Rupee app and then sharing it to the remitter for transferring digital rupee via wallet app.

How will I know if my digital rupee transaction is successful?

Once the transaction is successful, the digital rupee will be debited from your wallet account. You can also check the status of your transaction from the ‘Transaction History’ section of the Digital Rupee app.

How can I view my transaction history?

You can view your transaction history by clicking the ‘Transaction History’ option in the Digital Rupee app. The list of the transactions will be displayed, you can choose the transaction for which you need to see the complete transaction details and its status.

How can I raise a dispute for my Digital Rupee transaction?

You can raise a dispute from your Digital Rupee app. First, you need to check the status of the transaction from the ‘Transaction History’ section of the app, once you click on the transaction the transaction information page will be displayed where the ‘Raise Dispute’ option is provided for raising a dispute.

How can I reset my wallet PIN?

You can reset your six-digit wallet pin from the PIN setting options available in the Profile section > Click on PIN settings > Click on Forgot PIN > Enter the last six digits of active Kotak Bank Debit Card details associated with your wallet linked bank account and the card expiry date > Click on Next for authentication > Set new PIN.

What are the working hours for transacting in Digital Rupee?

Digital Rupee can be transferred instantly 24x7 which means it can be done on holidays as well and not dependent on banking hours.

Who are the merchants accepting Digital Rupee (e₹) payments?

Click here to view the list of selected merchants who are part of the current pilot program.

What are the charges/fees for using Digital Rupee?

There are no charges/fees a user has to pay for using Digital Rupee wallet or transacting in Digital Rupee.

Can I transfer the Digital Rupee directly to another person's bank account?

Yes, you can now transfer funds from your digital rupee wallet to any individual bank account by scanning the UPI QR code.

Can I earn interest on Digital Rupee (e₹)?

No. e₹ is a non-interest-bearing legal tender issued by the Reserve Bank of India.

What are the available Digital Rupee (e₹) denominations?

The e₹ will have physical currency like fixed denominations, i.e. ₹2, ₹5, ₹10, ₹20, ₹50, ₹100, ₹200, ₹500 and even 1 Rupee & 50 paise coins.

How can I deregister my Digital Rupee wallet?

You can deregister your Digital Rupee wallet from the Profile section > Click on De-register wallet > Check your current wallet balance and click continue > Read the on-screen message > Click on De-Register >Enter Wallet PIN > Wallet is de-registered.

What is CBDC – UPI Interoperability feature and how it will benefits the customers and merchants?

Kotak Mahindra Bank has introduced a UPI interoperability feature on its Digital Rupee (e₹) application as part of the RBI's CBDC pilot project. This feature now enables the customer to make payments on the existing UPI QR codes available at merchants and also empowers merchants to accept payment via UPI from Digital Rupee users without any separate on-boarding process required for CBDC.

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