Anand Mahindra has shared a video on his Twitter account, in which he pays a fruit vendor in electronic rupees. He said by mail that this was his first e-rupee payment. He also attended the Reserve Bank of India (RBI) board meeting on Wednesday to learn about this digital currency.
At today’s Reserve Bank board meeting I learned about the @RBI digital currency: the e-rupee. Immediately after the meeting I visited Bachche Lal Sahani, a nearby fruit vendor who is one of the first merchants to accept it. #IndiaDigital in action! (I also have cool grenades!) pic.twitter.com/OxFRWgI0ZJ
— anand mahindra (@anandmahindra) January 25, 2023
Mahindra wrote in his post: “Today at the RBI board meeting, I came to know about the e-Rupiah digital currency from @RBI. Immediately after the meeting, I met a nearby fruit vendor, Bache Lal Sahni, who agreed to take her in. One of the early traders .
The video clip posted by Mahindra on his Twitter account lasts for 1 minute and 4 seconds, in which the e-Rupee payment was made through a smartphone. According to her tweet, she had bought pomegranates from a fruit vendor. The video has been viewed 17 lakh times so far and has over 30 thousand likes.
Explain that banks participating in the e-rupee trial include State Bank of India (SBI), ICICI Bank, Yes Bank, and IDFC First Bank. There has been a rapid growth in UPI payments after the demonetization in the country. The digital rupee can also benefit from this. CBDC is a blockchain-based payment solution, controlled by the Central Bank. It works like cryptocurrencies, but unlike cryptocurrencies, CBDCs have no volatility or other risks.
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