What is the full form of E-RUPI ?

E-RUPI- Electronic Rupee

E-Rupi or E-Rupee(Electronic Rupee) is a kind of indian digital currency solution introduced by Prime minister(Narendra Modi) of india. In the other words we can say that E-rupi is a kind of E-voucher built with QR code and SMS read compatible technology given on the user registered mobile number. E-rupee is most likely similar to UPI payment system but transaction can be done in online as well as offline mode. E-Rupee will be used as a convertable currency for cash flow.As per the RBI guidelines more than 9 Banks(including SBI, HDFC, Bank of Baroda…etc) are connected with this digital currency for the acceptance and transfer of money in user’s bank account.

In the first stage of E-Rupee launching, first testing will take place for the wholesalers and retailers.

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