In this crisis of pandemics, the digital revolution has leapt in terms of advancements. As a matter of fact majority of the population is trying to invest their assets in digital format. And due to this, the boom of cryptocurrency took place and is going on till now. With so many changes now many of the countries are also trying to take a step towards a digital approach. Recently there has been news that some countries are trying to create their ecosystem of digital currency. And in this step, India is full ahead of the digital revolution. So in today’s article, we’ll discuss E-Rupi, India’s latest digital currency.
The news is spreading like fire but there isn’t much information available about E-Rupi. So we’ll get you through the most accurate and precise facts you need to know about India’s latest digital currency.
How E-Rupi (India’s Digital Currency) Works?
This Digital Currency is a token to authenticate the transaction between sender and receiver. So the main advantage to users is, one can easily send and withdraw money without even having a card, digital payments app or internet banking access,
The sender will create an E-Rupi voucher with a specific amount, once the voucher is created it can be redeemed by the user at the receiver side. These vouchers are said to be secure and feasible, which is why they can be transferred to someone using a text message or QR code.
Is E-Rupi Blockchain-Based Currency?
Well according to the government, E-Rupi is not a cryptocurrency that is why it isn’t built using Blockchain.
Which Banks Are Accepting E-Rupi?
Below is the list of banks that have started accepting E-Rupi as a mode of transaction and payment among users.
- State Bank of India
- HDFC Bank
- Axis Bank
- Punjab National Bank
- Bank of Baroda
- Canara Bank
- IndusInd Bank
- ICICI Bank