E-rupee is the name of the digital currency that has been issued by RBI on a pilot basis, , e-rupee, Central Bank Digital Currencies (Cbdcs), cryptocurrencies, UPI QR payments
Indian banks is likely providing incentives to encourage the use of the central bank s digital currency, known as the e-rupee, news agency Reuters reported citing sources. This initiative comes as a result of the RBI s encouragement to increase transaction volumes. These incentives include giving benefits such as cash-backs and reward points
To make the e-rupee popular, the RBI needs to address the deep-seated preference for cash, the ubiquity of UPI, and the need to strike a balance between innovation and familiarity