7 Facts ABOut RBI's E-Rupee

Legal Tender

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No Bank Account Needed

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On a par with cash

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Distribution

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No Interest

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Retail Use

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7 Facts ABOut RBI's E-Rupee

Legal Tender

The Reserve Bank of India Issued CDBC as the Legal Tender.

No Bank Account Needed

Termed e-rupee is a digital currency so no bank account is required to spend or receive this money.

On a par with cash

Issued as tokens, RBI e- rupee can be used to make payments and also exchange it for physical notes from bank.

Distribution

RBI's e-rupee is distributed entirely by commercial banks while central bank being it's sole issuer.

No Interest

E-Rupee is always the direct liability of RBI. Unlike the regular savings account, e-rupee doesn't pay interest.

Retail Use

The regular users can switch to e-rupee with UPI at present.

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