The Reserve Bank of India (RBI) has officially launched the offline digital rupee (e₹), marking a significant step in India’s digital finance journey. The announcement was made at the Global Fintech Fest 2025 in Mumbai, aiming to boost financial inclusion and strengthen India’s global leadership in digital currencies.
How the e₹ Works
- The e₹ is India’s official Central Bank Digital Currency (CBDC), functioning like physical cash but in digital form.
- Issued directly by the RBI, it is stored in secure digital wallets provided by 15 participating banks, including SBI, ICICI, HDFC, and Union Bank of India.
- Wallets can be accessed via the Google Play Store or Apple App Store, enabling instant person-to-person (P2P) and person-to-merchant (P2M) transactions.
Offline & Programmable Features
- Offline payments: Users can transact without internet connectivity using minimal network signals or NFC-based tap technology, ensuring accessibility in rural and remote areas.
- Programmable functionality: Funds can be restricted for specific purposes, geo-fenced, or set with expiry dates, allowing more control over usage.
Government Program Deployment
- The programmable e₹ is already being tested in government schemes, such as Gujarat’s G-SAFAL and Andhra Pradesh’s DEEPAM 2.0, for transparent and efficient subsidy delivery.
This launch positions India at the forefront of digital currency innovation, blending cash-like convenience with modern programmable features.
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