Digital Rupee or e₹, is India’s Central Bank Digital Currency (CBDC). It is the digital form of India’s physical currency, the Rupee (₹). e₹ is issued by the Reserve Bank of India (RBI) in digital form and offers features similar to physical cash like convenience of use, guarantee of RBI, finality of settlement, etc. e₹ is stored in the user’s digital wallet and can be used to receive / send money, and / or make payment for transactions, just like any physical ₹ note.

The logo and tagline for India’s CBDC is as under:

e₹ can be held in an e₹ wallet issued by Union Bank of India. One can start using the e₹ wallet by downloading Digital Rupee by UBI app from the Play Store or the App Store and by following the App instructions and linking it to your existing Bank (savings / current) account. The wallet is a digital representation of your physical wallet and e₹ can be withdrawn/ deposited from your existing bank account into this wallet. Payments to merchants can be made by scanning either the CBDC QR code or the UPI QR code available at the respective merchant location.

e₹ wallet is a digital wallet that can be opened on one’s mobile phone/device. e₹ wallet stores the Digital Rupee, similar to the physical wallet/purse that stores the physical currency. e₹ wallets are being currently provided by banks and non-banks, which are part of the retail CBDC pilot.

e₹ wallets are safe and secure. There is a robust cyber-security framework to ensure that e₹ is kept secure in the user’s wallet. The e₹ stored in the e₹ wallet is safe even if the mobile device on which the e₹ wallet is installed is lost. The e₹ wallet can be recovered using the same phone number / SIM on a new mobile device.

All the Union Bank of India account holders having active debit card linked across the country can now register on Digital Rupee by UBI app.

e₹ wallet is available and supported both on Android and iOS mobile devices.

The e₹ pilots are a limited scale, controlled roll-out, to test the technology, architecture, scalability, application, features, use-cases and acceptance of e₹. The pilots aim to test the robustness of the entire process of e₹ creation, distribution, usage, etc.

Yes. e₹ can be loaded/redeemed/transferred from/to one’s bank account to/from the e₹ wallet 24 hours x 7 days a week.

No. There is no minimum balance required to open/maintain an e₹ wallet.

Currently, opening of e₹ wallets is linked to user’s saving accounts. This linkage facilitates frictionless user onboarding and obviates the need for separate KYC requirement.

For ease of use, e₹ is available in the same denominations as physical currency. This provides the users with the same familiarity and convenience as with usage of physical currency notes.

The feature of providing the requisite change is available in all the e₹ wallets. For example, if one desires to purchase a ₹15 item from a merchant but has only ₹20 denomination available in the e₹ wallet, she/he can enter ₹15 in the amount field while sending the money; ₹15 will automatically be credited to the merchant while the balance ₹5 will be returned to the e₹ wallet.

There are no charges or fees associated with using e₹ or e₹ wallets.

Given the cash-like features of e₹, there is no interest payable on the wallet balances.

Yes, e₹ is a legal tender.

e₹ is a digital form of ₹ whereas UPI is a means of payment. In addition to being used for payments, e₹ also serves as a ‘store of value’, i.e., e₹ can be withdrawn from one’s bank account and kept separately in the e₹ wallet.

In the case of P2P and P2M payments made at any CBDC QR, the transactions happen between two e₹ wallets, and are settled instantaneously without passing through user’s bank accounts.

For P2P and P2M payments, the functionality of scanning a UPI QR from an e₹ app has also been enabled. In such cases, the settlement will be based on the UPI settlement timelines.

No. e₹ is digital form of currency notes and has intrinsic value as it represents a claim on the Reserve Bank’s balance sheet. e₹ is issued by the Reserve Bank and is a legal tender. Crypto products such as bitcoin on the other hand do not exhibit any features of a currency, do not have any intrinsic value, are not backed by assets and are not issued by a central trusted authority, such as RBI.

Below are the simple steps to follow to install the app and register for CBDC (e₹).

• Download the application through playstore and appstore.
• Open the App and select ENTER and proceed with acceptance of TERMS & CONDITIONS.
• Go through brief introduction of the App by clicking NEXT tab.
• Choose the desired SIM and click on VERIFY SIM.
• When the SIM verification status is displayed, the user clicks CONTINUE to move towards the next step.
• Verify your device through fingerprint, pattern lock, PIN or face lock.
• Enter your profile name and continue by selecting your Bank account.
• Set up a 6-digit wallet pin and confirm the pin by re-entering the same input.
• Continue your registration by linking your Union Bank of India account by debit card authentication for successful registration.

• User selects the required denominations of e₹ by swiping up and down on the currency shown.
• User can view the list of selected e₹ and confirms.
• User can choose between UPI or his bank for the transaction.
• User obtains information about the chosen transaction option, clicks on load e₹, and then enters an authentication PIN. 
• As soon as the user inputs their transaction PIN, they are directed to the transaction status screen.
• User receives transaction status information.
• Tokens will be shown in wallet screen.

• The user swipes up the token that he wishes to redeem and then selects View e₹ to display the entire amount of tokens swiped. 
• When the user clicks Redeem e-Rupee after using the swipe token, a bank account selection screen appears.
• After choosing a bank account, the user should click the confirm button.
• The user can view the specifics of chosen tokens, including the quantity and bank account information.
• When the user clicks "Redeem e-Rupee," the transaction requires authentication.
• User can able to see the transaction status and transaction details.

• User can transfer e₹ by either using VPA, Mobile number or scanning QR code of intended recipient.
• The user must select the e₹ denominations or input the desired amount in the edit text field located above the displayed currency and confirms.
• When the user clicks on the send e₹ token button, the bottom sheet of the screen displays a confirmation that the amount or tokens have been sent to the intended recipient.
• User confirms payee information and amount, then clicks "Send eRupee" to proceed with transaction authentication.
• The user enters his six-digit transaction PIN and is then taken to the status screen.
• The user can view the status and transaction data.
• Users have the ability to share transaction information and report problems by clicking the "Raise Dispute" button.

In such cases, money will be refunded back to your account. If you do not receive the refund within 48 hours (during pilot phase), please raise a dispute on the e₹ app or contact customercare@unionbankofindia.bank.

Open e₹ (Digital Rupee) application and click on “Scan and Pay” to initiate payment to merchant. Scan the merchant QR and enter amount. Use Wallet PIN to complete the transaction.

Special Purpose Digital Rupee wallet is a sub-type of e₹ (Digital Rupee) wallet which is designed to bifurcate rule-based programmable e₹ (Digital Rupee) received from other users.

Special Purpose Digital Rupee wallet allows the users to track and monitor the usage of rule-based programmable e₹ (Digital Rupee) separately under “View Wallet” section.

Yes.

e₹ (Digital Rupee) mobile application is available for merchants.

Load and Redeem features are restricted for merchant application. Merchant users can view the payments received, track and monitor the final settlement of the transactions through the application.

No. e₹ can only be used with the linked account.

You can recover your wallet by using the same phone number/sim by following the below mentioned steps:

• Download the application through playstore and appstore.
• Open the App and select ENTER and proceed with acceptance of TERMS & CONDITIONS.
• Go through brief introduction of the App by clicking NEXT tab.
• Choose the desired SIM and click on VERIFY SIM.
• When the SIM verification status is displayed, the user clicks CONTINUE to move towards the next step.
• Verify your device through fingerprint, pattern lock, PIN or face lock.
• App will display the existing wallet and request to proceed for wallet recovery.
• Select wallet and either enter Wallet PIN or choose Forget PIN to recreate new wallet PIN to recover your old e₹ wallet.

No. Rooted device cannot be linked with the e₹ wallet.

To de-register the e₹ wallet, first redeem the Digital Rupee to your linked bank account.

• User initiate the De-registration of Wallet 
• Provide the App authentication and Wallet Pin to confirm the consent for deregistration.
• Wallet will unload the tokens and credit the linked UBI account of user.
• Also, the request for the deregistration of device is made. 
• Once successful, the deregistration process is completed.

You can raise disputes via e₹ wallet App or customer can reach directly on customercare@unionbankofindia.bank.

No. The value of e₹ is equivalent a physical currency. There is no interest paid on e₹.

Only one e₹ wallet can be held in a particular bank against the registered mobile number.

You can contact Customer Care 1800 2222 44 for enquiries.

Following are the transaction velocity limits for Digital Rupee by UBI application:

A user is allowed to have maximum 3 wallets in a lifetime.