{"id":9543,"date":"2024-08-07T08:36:32","date_gmt":"2024-08-07T03:06:32","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=9543"},"modified":"2025-10-13T12:34:04","modified_gmt":"2025-10-13T07:04:04","slug":"e-rupee","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/e-rupee\/","title":{"rendered":"e-Rupee"},"content":{"rendered":"<h2><strong>About e-rupee:\u00a0<\/strong><\/h2>\n<ul>\n<li>The e-rupee, or the digital rupee, is a <strong>digital currency issued<\/strong> by the RBI.<\/li>\n<li>The digital rupee was launched on a pilot basis in December 2022. At the time, the currency was offered by a select group of public and private banks in a few major cities and could be used <strong>for both person-to-person a<\/strong>nd person-to-merchant transactions.<\/li>\n<li>It is aimed at creating an additional option for using money. The digital rupee is available entirely <strong>in electronic form<\/strong> and does not leave a computer network.<\/li>\n<li>It is like banknotes issued by the RBI and <strong>is a legal tender<\/strong> that can be used to make transactions. The only difference is that they can only be transacted online.<\/li>\n<li>The digital rupee in users\u2019 wallets <strong>does not attract interest<\/strong> payments from the central bank. However, deposits held in banks can be converted into digital rupees and vice versa for ease of use.<\/li>\n<li><a href=\"https:\/\/vajiramandravi.com\/current-affairs\/reserve-bank-of-india\/\" target=\"_blank\">RBI<\/a> has demarcated the digital rupee into two broad categories: <strong>general purpose (retail) and wholesale.<\/strong>\n<ul>\n<li>This demarcation is based on the usage and the functions performed by the digital rupee and considering the different levels of accessibility.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1: What is Fiat Money?<\/h3>\n<p>Fiat money is a currency that lacks intrinsic value and is established as a legal tender by government regulation.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.thehindu.com\/sci-tech\/technology\/what-is-e-rupee-and-why-do-google-pay-phonepe-want-to-join-rbis-digital-rupee-project\/article68495234.ece\" target=\"_blank\" rel=\"nofollow noopener\">What is e-rupee and why do Google Pay, PhonePe want to join RBI\u2019s digital rupee project?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>E-rupee  is a digital currency issued by the RBI.<\/p>\n","protected":false},"author":5,"featured_media":9544,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-9543","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/9543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=9543"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/9543\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/9544"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=9543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=9543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=9543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}