E-Rupee UPI Payment: Big news, digital payment started! Make UPI payment in e-rupee!

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UPI has become popular not only in India but all over the world. India did what developed countries could not do. India has revolutionized digital payment modes. India has created a Unified Payment Interface (UPI Payment) to make secure and instant payments. Based on that, now money can be easily sent anywhere from the street to Delhi. From vegetable sellers on the streets to seven-star hotels, the era of QR codes has arrived. Payment can be made by scanning it through the app on the smart phone. Now many alternatives to this method are being tried. India has also started experimenting with digital currency. This experiment has been going on since the beginning of this year. Now the facility of UPI payment has been provided through e-Rupee. Some banks have taken the initiative for this.

Initiatives of these banks

Many big banks in the country have provided this facility. Banks like the State Bank of India, Punjab National Bank (PNB), HDFC Bank, Union Bank of India, and Bank of Baroda (BoB) have provided UPI payment facilities on an e-Rupee basis. This is called interoperability. It is being claimed that this is a user-friendly feature. Payment can be done by scanning the UPI QR Code (UPI QR Code scan via Digitalrupee).

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What is e-rupee?

Union Finance Minister Nirmala Sitharaman had announced the launch of e-Rupee or Digital Rupee in Budget 2022-23. This means that we use digital currency instead of the notes we keep in our pockets. The Central Bank of Digital Currency (CBDC) of the Reserve Bank of India has launched this currency in electronic form. There are two types of currency, digital rupee wholesale and digital rupee retail. It is used in the same way.

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How to use

• The digital rupee is currently being used in a pilot project.
• You can use it if the bank invites you to use it through the e-Rupee network.
• Customers can use their smartphones for this.
• They need to download the Digital Rupee app from Google Play Store or Apple iOS.
• After this, you will have to register your mobile number. The mobile in which the app is installed must have a registered mobile number.
• After this, you will have to choose fingerprint or PIN for security.
• Four options will appear: send, collect, load, and redeem.
• The account amount will be credited to the digital wallet through the load option.
• This amount will not be deducted from your account when you make the payment, it will be deducted from the wallet.
• After scanning the QR code, money can be sent through UPI payment.