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The Digital Rupee (e₹) [6] or eINR or E-Rupee is a tokenised digital version of the Indian Rupee, issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC). [7] The Digital Rupee was proposed in January 2017 and launched on 1 December 2022. [8] Digital Rupee is using blockchain distributed-ledger technology. [9]
The Digital Rupee (e₹) [39] or eINR or E-Rupee is a tokenised digital version of the Indian Rupee, issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC). [40] The Digital Rupee was proposed in January 2017 and launched on 1 December 2022. [41] Digital Rupee is using blockchain distributed-ledger technology. [42]
During the announcement of the 2022 Union budget of India, Nirmala Sitharaman from Ministry of Finance announced the roll out of the Digital Rupee from 2023. [41] As per the RBI Payments Vision 2025 document released on 17 June 2022, CBDC will be used for domestic and cross border payment processing and settlement.
This monumental transaction follows the sale of 25kg of gold from a UAE gold exporter to a buyer in India for around 128.4 million rupees ($1.54 million), according to Reuters.
For example: 150,000 rupees is "1.5 lakh rupees" which can be written as "1,50,000 rupees", and 30,000,000 (thirty million) rupees is referred to as "3 crore rupees" which can be written as "3,00,00,000 rupees". There are names for numbers larger than crore, but they are less commonly used.
The scheme was launched to provide a safe and cost-efficient avenue to migrant Nepalese workers in India to remit money back to their families in Nepal. A remitter can transfer funds up to ₹ 50,000 (maximum permissible amount) from any of the NEFT-enabled branches in India. The beneficiary would receive funds in Nepalese Rupees.
PhonePe is an Indian digital payments and financial services company headquartered in Bengaluru, Karnataka, India. [5] [6] It was founded in December 2015, [7] [2] by Sameer Nigam, Rahul Chari and Burzin Engineer. [8] The PhonePe app, based on the Unified Payments Interface, went live in August 2016. [9] [10]
Like the other Indian rupee banknotes, the ₹ 1000 banknote had its value written in 17 languages. On the obverse, the denomination was written in English and Hindi . On the reverse is a language panel which displayed the denomination of the note in 15 of the 22 official languages of India , displayed in alphabetical order.