On the basis of the above facts, Answer the following Questions : Is there any difference between 'e₹' and UPI ?
CS Professional · Banking and Insurance - Laws and Practice · PYQS · June 2025
On the basis of the above facts, Answer the following Questions : Is there any difference between 'e₹' and UPI ?
Answer & Explanation:
e₹ is a digital form of ₹ whereas UPI is a means of payment. In addition to being used for payments, e₹ also serves as a 'Store of Value', i.e., e₹ can be withdrawn from one's bank account and kept separately in the e₹ wallet. In the case of P2P and P2M payments made at any CBDC-QR, the transactions happen between two e₹ wallets, and are settled instantaneously without passing through user's bank accounts. For P2P and P2M payments, the functionality of scanning a UPI QR from an e₹ App has also been enabled. In such cases, the settlement will be based on the UPI settlement timelines.
Topics: Central Bank Digital Currency (CBDC)
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