Digital Currency Rupees: India is rapidly moving towards digital payments. The trend of UPI transactions is becoming common, but the government does not want to stop there. Now the Reserve Bank of India (RBI) is moving towards a new step – the Digital Rupee.
What exactly is Digital Rupee
Imagine, a digital currency that looks like real rupee notes in your mobile phone. This is the digital rupee! RBI will issue it and it will be a completely valid Indian currency. You will be able to use it for transactions in the same way as you use paper notes.
Benefits of Digital Rupee
Convenience: Digital Rupee will be on your mobile phone. So, the hassle of carrying cash is over!
Security: Being issued by RBI, the digital rupee will be completely safe.
Offline Payments: With digital rupees, you will be able to make payments even without an internet connection. (This facility is currently in the testing phase).
Cashback and Rewards: The government can provide cashback and rewards to promote the use of digital rupees.
How Will the Digital Rupee Work
RBI is currently testing digital rupees. It is believed that it will be issued through banks. There will be a separate section in your bank account where digital rupees can be kept
. You will be able to make payments through any UPI app or app that accepts digital rupees.
Prepare Now
Although digital rupees are still in their initial stages, you can prepare now. Get information about digital currency from your bank. Also, master UPI payments. Making payments will become even easier when digital rupees arrive.
