How SBI customers can use CBDC: 15 handy FAQ guide on Digital Rupee (e₹)

If you are used to paying through UPI, you will find Digital Rupee (e₹) just as easy. The Digital Rupee lets you send and receive money instantly, directly from your phone. No cash, no waiting, just simple, secure digital payments.

This FAQ answers all your questions step by step so you can start using e₹ easily and confidently. From setting up your wallet, sending and receiving payments, to understanding limits and security, all your queries are answered in this article.

e₹ is a sovereign currency issued by Central Banks, in alignment with their monetary policy, as mentioned in the RBI concept note. e₹ appears as a liability on the central bank’s balance sheet. It must be accepted as a medium of payment, legal tender, and a safe store of value by all citizens, enterprises, and government agencies. e₹ is freely convertible against commercial bank money and cash.

e₹ is a digital form of currency notes. However, other payments like UPI, NEFT, RTGS, IMPS etc. use underlying currency/cash to transfer the funds.

Anyone with an e₹ App can transact in e₹ through a convenient and safe digital wallet. This e₹ wallet will be like your physical wallet in digital form on your Android/iOS device.

An e₹ wallet is a digital wallet on your Android/iOS device. It stores digital currency just as a physical wallet stores physical currency.

Download ‘eRupee App by SBI’ from the Play Store/App Store and register on it. Screen-wise assistance is provided to guide you through registration.

Bank account-linked Full-KYC eRupee wallet: Keep your active savings/current account number and Debit Card ready for authentication. Give consent for all required access and usage of eRupee App to take advantage of all App features.

Aadhaar-linked Minimum KYC eRupee wallet: Keep your Aadhaar number ready for authentication.

Yes, an SBI savings account is mandatory for full functionality. Customers can also create their Wallet using an Aadhaar card number, but usage will be restricted to the receipt of Subsidy/Grants from Government bodies and payment will be limited as per the Subsidy scheme.

On the e₹ App, go to the Home Page, click on the ‘History’ icon placed at the bottom.

e₹ can be used 24/7, 365 days a year. However, a few limitations apply on volume and value of transactions:

On the e₹ App – Home Page, click ‘Send’.

Choose ‘Phone Number/Contact’ or ‘QR Code’ and click ‘Verify’.

Once verified, click ‘Send Digital Rupee’.

Enter e₹ amount or select denominations by swiping up. Click ‘Send Digital Rupee’.

Ensure ‘Auto Load’ is enabled on the e₹ App.

Carry out the ‘Pay’ transaction as usual.

If low/zero balance, ‘Auto Load’ will automatically load e₹ from the linked savings account.

For denomination differences, the amount chosen will be paid, and change will be credited back to the wallet.

No. All payments are instant and available 24/7.

On the e₹ App – Home Page, click ‘Collect’.

Enter the amount, generate the QR, and share it with the Sender.

Sender initiates a ‘Pay’ transaction through their CBDC App.

• Download ‘e-Rupee by SBI’ from the Google Play Store/App Store.

• Provide SMS/phone call permission and accept Terms & Conditions.

• Select the SIM with the registered mobile number and verify the SIM.

• Set App PIN and authenticate device password (PIN, Face Unlock, or Fingerprint).

• Enter your name and create PIN.

• Savings Bank Wallet: Based on SBI Savings account + Debit card – for regular CBDC transactions.

• Aadhaar Special Purpose Wallet: Based on Aadhaar Number – for receiving Government Grants & Subsidies.

Follow screen input options for linking the account or Aadhaar and complete OTP authentication.

Wallet successfully created. You can now start using the e₹ App.

With your e₹ wallet, you can send, receive, and redeem money anytime, anywhere, 24/7. By following this FAQ, you now have all the guidance you need to use e₹ confidently and hassle-free.