digital rupee wallet

Dhanbad police revealed a massive digital scam potentially affecting over 3.5 lakh individuals. Arrests have been made, with accused allegedly developing and distributing malicious APK files embedded in popular apps. These files granted cybercriminals remote access, enabling them to steal banking details and personal data, leading to significant financial losses. A central team is now assisting the investigation.

Budget 2023: In simple terms, CBDC is the existence of currency in digital form. For owning a digital rupee wallet and receiving payments, one doesn't need a bank account similar to cash.

Cred has introduced the e-Rupee wallet in partnership with Yes Bank, under the RBI's CBDC initiative. This wallet enables UPI-linked transactions and imposes daily and per-transfer limits. This rollout aims to simplify digital transactions and boost e-Rupee adoption among users.

Mohammed Shabbir ate chicken biryani for lunch on Wednesday , something that he often does. But he also did something that he doesn't do: pay for it with his digital wallet. But desperate times call for desperate measures.

Budget 2023: Last year, the Reserve Bank of India released a concept note on Central Bank Digital Currency (CBDC) to explain the objectives, choices, benefits, and risks of issuing a CBDC in India.

The central bank in India, the RBI, has created a digital currency called the "Erupee." The Erupee cannot currently be converted into cash, but can be converted into rupees.

Subhadra Yojana in Odisha provides women with Rs 10,000 annually in Central Bank Digital Currency (CBDC). Launched by PM Narendra Modi, the scheme ensures direct deposits into beneficiaries' bank accounts without intermediaries. Linked to RBI's digital currency pilot, the digital rupee can be spent using UPI QR codes or transferred to bank accounts.

Digital Rupee is a digital form of paper money that is equal to the value of cash. It is a step forward to achieve the goal of Digital India. The difference between e-Rupee and UPI is that in the case of UPI, a bank is there to intermediate. Digital Rupee is just like cash on hand or cash on the phone.

RBI allows non-banks to issue eRupee wallets and programmable CBDCs for farmers. With unique features like programmability and currency trade, the digital currency landscape is set to evolve significantly.