SBI's CBDC Wallet: Revolutionizing Digital Payments
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What is CBDC Wallet? The Central Bank Digital Currency (CBDC) Wallet, also referred to as the Digital Rupee or e-Rupee , is a digital representation of currency notes issued by the Reserve Bank of India. Offered by major banks, including SBI, the wallet seamlessly links to a user's SBI account for loading and managing the e-Rupee. This innovative solution is part of India's move toward a more digital and cashless economy. Key Features of e-Rupee Sovereign Currency : Issued by the central bank and aligned with its monetary policies. Central Bank Liability : Appears as a liability on the central bank's balance sheet, enhancing trust. Free Convertibility : Can be freely exchanged for physical cash or commercial bank money. Legal Tender : Recognized as a valid and safe store of value by citizens, enterprises, and governments. How to Register for SBI's CBDC Wallet Download the App : Get the 'e-Rupee by SBI' app from the Play Store or App Store. SIM Verification :...