Anything that an average user can achieve with the e-rupee, they can already do with UPI. But there is a different purpose altogether for the digital currency.
Over the past week, fintech companies like Mobikwik and Cred announced that they were launching e-rupee wallets. The e-rupee, or the “e₹”, is a central bank digital currency issued by the Reserve Bank of India. While the central bank touts many reasons for its introduction and use, there aren’t any convincing reasons for most users to adopt it yet.
Curiously, this announcement from the two fintech companies came shortly after US President Donald Trump published an executive order that effectively banned the formation of a digital dollar or any kind of CBDC based on the American currency. In his order, …
Sethu writes on all things technology at The Morning Context. He previously worked as a senior sub-editor at Indian Express.
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