It is the legal tender of a nation issued in digital form by its central bank. RBI is the issuer in India.
What are its features?
- Digital alternative to physical cash.
- Is available both for retail as well as wholesale.
- They are stored in digital wallets and can be used for online or offline transactions.
- Government is working on integrating CBDC into public distribution systems (PDS) for subsidy transfers.
- Presently there are no charges or fees associated with using e₹ or e₹ wallets.
- Under section 26 of the Reserve Bank of India (RBI) Act, 1934, every e₹ bank note shall be legal tender .
Source: PIB