RBI launched Digital Rupee as pilot Project. The Reserve Bank of India (RBI) has officially launched its very first digital token called the digital Rupee as part of a pilot. The digital Rupee (e₹-R) will be available for purchase and trade starting today via select banks in select cities. If you are planning to buy India’s official digital currency, then here are five points that you should keep in mind about the digital Rupee.
How to buy digital Rupee
Users will be able to buy the digital Rupee from the official app or website from the four designated banks which are mentioned above. As of now, there is no exact information if these banks will allow users to buy digital Rupee from their existing apps or will release a new app/website just to handle digital Rupee. While one needs to have a bank account to transact with the physical rupee, digital Rupee does not require any bank account.Digital Rupee vs physical Rupee
This can be used just like a physical rupee in most places. However, you won’t be able to withdraw it in the form of physical currency. However, the digital Rupee can be converted into cash via commercial banks. When you have money in your bank account, it usually attracts interest. When it comes to the digital Rupee, it won’t earn any interest and its value of it will remain constant.
