About E-Rupee (EASY)
E Rupee launching, When the Central Bank Digital Currency - Retail (e-R) Pilot was made operational, the RBI stated that the pilot will be limited to a few sites in a closed user group (CUG) made up of participating customers and merchants.
"The e-R would take the shape of a digital token that stands in for money.
It would be distributed in the same denominations as coins and paper money are already distributed in, according to the statement.
Users will be able to transact with e-R through a digital wallet provided by the participating banks and kept on mobile phones/devices. It would be distributed by banks.
Both person-to-person (P2P) and person-to-merchant transactions are possible (P2M).
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