New Delhi: The Reserve Bank of India will launch the e-Rupee from December 1. It is estimated that the digital rupee will help make financial transactions easier and faster. E-Rupee will be a medium of exchange in addition to current currency notes.
Meanwhile, it will be implemented in selected cities in the first phase. In the second phase, e-Rupees will be available in Kochi as well. The notes will be of the same value as the paper currency, RBI said. No interest is earned on e-Rs. It can be converted into cash like bank deposits when needed. In the first phase, it will be released through four banks including SBI.
