RBI Digital Currency - CBDC (Central Bank Digital Currency)​​​​​​​


Meet the Rupee’s new digital avatar. Issued by The Reserve Bank of India, the Central Bank Digital Currency (CBDC) or Digital Rupee (or e₹) is a digital variant of physical currency.

As a customer of HDFC Bank, embrace the future of digital transactions: send or receive money or pay for transactions through e₹

Steps to setup your Digital Rupee App

How Does the Digital Rupee Work?

The RBI will create tokens, and issue them to financial entities called Token Service Providers (TSPs), which are the banks selected for the Digital Rupee Pilot Program. The TSP will then distribute the tokens to interested parties/customers. The digital Rupee tokens will work in the same way as bank notes/coins, and you can use them in lieu of cash.

You may store digital Rupees in your bank’s digital wallet CBDC-R app. The digital wallet works in the same way as your cash wallet, except these transactions will be entirely paperless.​​​​​​​


Pay for Goods and Services

Simply scan the e₹ QR code at listed merchants and make instant payments.


Send Money Instantly to
Friends and Family

You can send e₹ to your friends and family, provided they have a e₹ Wallet. ​​​​​​​


Receive Instant e₹ Payments

You can also receive instant e₹ payments from others.

Digital Rupee Features
Digital Rupee Features

Send or receive money instantly

Send or receive money to/from anyone, using their Mobile No. or QR Code.

Digital Rupee Features

Pay to Merchants

You can use Digital Rupee to pay merchants using it as a payment option.

Digital Rupee Features

Digital form of physical cash

Digital Rupee is the digital form of physical cash. All denominations available.

iOS and Android version 10+ users can download and register on HDFC Bank Digital Rupee app from the following cities- 

Agartala, Agra, Amritsar, Anantpur, Aurangabad, Bellary, Bilaspur, Coimbatore, Dhanbad, Durgapur, Gaya, Gorakhpur, Gwalior, Hubli, Jabalpur, Jalandhar, Jammu, Jamnagar, Jamshedpur, Jodhpur, Kancheepuram, Kanpur, Khammam, Kota, Kozhikode, Ludhiana, Madurai,Mangalore, Medchal, Moradabad,Muzaffarpur,Mysore, Nalgonda, Nashik, Nizamabad, Prayagraj, Raipur, Rajkot, Rohtak, Salem, Sangareddy, Siddipet, Siliguri, Surat, Thanjavur, Thirunelveli, Thiruvananthapuram, Thrissur, Tirupati, Trichy, Udaipur, Udupi, Vadodara, Warangal.


Spykar offer using HDFC Bank Digital Rupee: Click here

Cashback offer for making merchant payments using HDFC Bank Digital Rupee App Terms & Conditions

Frequently Asked Questions "FAQs"


How to Sign Up for e₹ through HDFC Bank?

As part of the pilot programme, select HDFC Bank customers have the chance to become a part of India’s e₹ initiative.


How to transact with e₹ on HDFC Bank?

  • Once you have enrolled, just download HDFC Bank’s Digital Rupee Wallet and choose your desired amount of e₹.

  • You can also select the denominations. Just like physical currency, the e₹ is available in ₹1, ₹2, ₹10, ₹20, ₹50, ₹100 and ₹500 denominations. 

  • The loading process is simple

  • Once you have e₹ in your HDFC Bank Digital Wallet, you can use them to purchase goods and services at numerous merchants that are part of the e₹ pilot program. All you have to do is scan and pay.


How is e₹ different from Cash, UPI, and Cryptocurrency?

Cash vs e₹
e₹ is closest in comparison to cash. When you pay cash, the physical note/coin goes from your wallet to someone else’s. Similarly, a user transfers e₹ from their e₹ Wallet to someone else’s.

UPI vs e₹
Unlike e₹, which is a currency, UPI is only a payment system which allows transfer of money from one bank account to another through an intermediary.

Bitcoin vs e₹

A cryptocurrency is a decentralized asset where transactions between parties are settled by a pool of users. In e₹, the central bank takes responsibility for ensuring the transactions are settled.

Besides, e₹ will enjoy the same stability in value as the rupee while cryptocurrencies can be very volatile.


What is e₹?

e₹ as a legal tender issued by a central bank in a digital form. The conversion rate is 1 e₹ = 1 Rupee. e₹ shall be accepted as a medium of payment, legal tender and a safe store of value.


How does e₹ work?

e₹ will work in the same way as bank notes and coins – if you possess them, you can use them in lieu of cash. You may store e₹ in your bank’s e₹ app. The digital wallet works in the same way as your cash wallet, except these transactions will be entirely paperless.

You can either conduct e₹ transactions anonymously, simply by obtaining the sender/receiver’s phone number or QR code, or you can opt for account-based e₹ transactions.


How is e₹ different from UPI or other fund transfer modes?

UPI/NEFT/RTGS/IMPS are all forms of digital payments. e₹ is a digital form of currency and is a legal tender provided by RBI that is similar to physical cash, but in a digital form.


Is e₹ the same as cryptocurrencies such as bitcoin?

e₹ is an RBI digital currency. It is like cash in a digital form which has a value as per the denomination of the currency. On the other hand, cryptocurrencies like bitcoins are public currencies (not backed by RBI).

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