By Ranjeet
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An experimental initiative using digital rupees has been initiated by the Reserve Bank of India (RBI) in four different cities.
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Currency in the form of electronic rupees (or e-rupees) is a form of digital money. Check out this guide on how to spend your digital cash.
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The Reserve Bank of India has announced that customers will soon be able to pay with digital rupees by scanning QR codes at merchant sites.
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The electronic Rupee will be issued in the same denominations as traditional paper and metal rupees.
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Users will be able to use digital wallets offered by the participating institutions to conduct e-R transactions.
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Digital rupee allows both P2P and M2M (merchant-to-customer) transactions.
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Users can add digital rupees to their Paytm wallets in the same manner they add cash and utilise them for payments.
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