RBI e-Rupee: Money will Reach Someone Else's Account without Internet

• 18 Oct 2025
• 1094 Views

During Global Fintech Fest 2025 that took place in Mumbai, the Reserve Bank of India (RBI) launched the offline e-Rupee (e₹). This digital currency has a unique feature: it allows users to make payments even without an internet or mobile network connection. The RBI has stated that this currency functions in digital form much like physical cash. 

What is Digital Rupee (e₹)?

The Digital Rupee is a Central Bank Digital Currency that the Reserve Bank of India issues. This digital currency was launched as a pilot project on 1 December 2022. To put it in a simple way, the Digital Rupee is a digital version of Indian rupee. 

It maintains the same trust and value as physical cash but is stored in a digital wallet. You can use it for payments just like you do with traditional currency (notes). The Reserve Bank of India is responsible for issuing the Digital Rupee as currency.

How does Digital Rupee differ from UPI?

While UPI facilitates money transfers between bank accounts, the digital rupee (e₹) functions more like cash. This means you can instantly send, receive or pay a merchant without needing to access your bank account each time. It's somewhat similar to taking cash from your wallet to pay a shopkeeper. 

Transactions occur between apps and wallets rather than through banks. You don't need internet access to use the digital rupee, but you do require a network from a telecom company. It is currently being tested for NFC transactions.

Which Banks offer Wallets?

At the moment, 15 banks are participating in the retail CBDC pilot and are providing e-Rupee wallets to the public. These banks include the following: 

• State Bank of India (SBI)

• ICICI Bank

• HDFC Bank

• Axis Bank

• Punjab National Bank (PNB)

• Yes Bank

• Union Bank

• Bank of Baroda

• Kotak Mahindra Bank

• Canara Bank

• IDFC First Bank

• IndusInd Bank

• Indian Bank

• Karnataka Bank

• Federal Bank

To use the e-Rupee wallet, you will need to download the eRupee app for your respective bank from Google Play Store (for Android users) or App Store (for iPhone users). Payments can also be made via UPI QR codes.

The eRupee wallet includes a QR code scanner that enables users to make digital rupee payments by directly scanning any merchant's UPI QR code. This feature ensures easy integration between UPI and eRupee. There are no fees or minimum balance requirements associated with the wallet. 

It is noteworthy to mention that the wallet remains secure even if the phone is lost. Users can recover the eRupee wallet and ensure their funds are safe. While the wallet does not earn interest, it is a completely safe and trusted digital currency.

Source: MSN