RBI has made a new plan regarding Digital Rupee, make payments through UPI- Watch Video

The Reserve Bank of India (RBI) is working on a plan to operate the QR code of the proposed Central Bank Digital Currency (CBDC) with the UPI payment system. In a conversation with reporters here on Thursday, RBI Deputy Governor T Ravi Shankar said that the central bank has also planned to increase the number of users of e-rupee ie CBDC to 1 million by the end of this month.

UPI has become very popular

The Reserve Bank wants to use the UPI platform which has become very popular for payments among the people, also for the QR code of CBDC. Shankar, however, said that the RBI has not fixed any timeline for the general use of CBDC and will gradually move in this direction.

What is Digital Rupee?

Let us tell you that digital rupee is the electronic form of notes and coins. After the introduction of e-rupee, you will not need to keep coins. The only difference is that you will have to do this transaction online i.e. digitally. Digital Rupee is based on blockchain technology.