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Reliance General to accept CBDC e-Rupee through Yes Bank
April 27, 2023
Customers who have an active e-wallet with any bank can scan Reliance General Insurance’s eRupee QR code to make immediate payment, it said.
With this pioneering launch, the company is presenting its customers with an easy, safe, instant and green payment solution, and taking its promise of providing excellent customer experience to the next level.
eRupee is a digital token that is equivalent to a banknote i.e. legal tender, and is a sovereign currency backed by the RBI, it noted.
Being digital, eRupee removes all the issues of handling physical cash and offers the same anonymity as a banknote, it said.
Moreover, it said, since all eRupee transactions are done through an RBI-regulated entity, it reduces banknote-related risks like anti-money laundering, the counterfeit of currency etc.
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