Digital Currency in India – Coins have been in use since ancient times. From gold coins, silver coins, copper, to today’s modern coins. As the days progressed, the shape of the currency has been changed. Another version of currency is the Digital Rupee or e-Rupee. Reserve Bank of India is going to introduce Digital rupee from December 01. 12. 2022. This decision was officially announced on Tuesday.
The implementation of this e-currency has been launched on a trial basis by the RBI. Initially, digital currency is going to be launched through four banks of the country. Those banks are – STATE BANK OF INDIA, ICICI BANK, YES BANK and IDFC FIRST BANK.
How to use Digital Currency in India?
Reserve Bank of India said that this decision will be implemented first with a small number of banks, customers and traders. Digital currency or E-Rupee has been announced by RBI. E-Rupee is going to be like Crypto currency, Bit coin, Doge coin etc.
Crypto currencies are not legal in India but e-rupee is being launched by the joint initiative of Indian government and RBI. So this currency is going to be completely secure and legal.
RBI has said that all the customers now can use this e-rupee in e-wallets. This currency can be used by all customers through the app provided by their specific banks.
Just like the online app, by scanning the QR code, you can pay at shops, hotels, taxis, shopping malls, etc. If you have any questions or comments about this, you can tell in the comment box below. Keep visiting our website for more.
Written and edited by Rajeshwari.