RBI Launches Offline Digital Rupee (e₹) With 15 Banks Including SBI, ICICI, and HDFC

The Reserve Bank of India (RBI) has launched the offline digital rupee (e₹), marking a major milestone in the country’s digital finance evolution. Announced at the Global Fintech Fest 2025 in Mumbai, the initiative aims to enhance financial inclusion and strengthen India’s position in the global digital economy.

How the Digital Rupee Works?

The e₹, India’s official Central Bank Digital Currency (CBDC), functions like physical cash but in digital form. It is issued directly by the RBI and stored in secure digital wallets provided by participating banks such as SBI, ICICI Bank, HDFC Bank, and Union Bank of India.

These wallets can be downloaded via the Google Play Store or Apple App Store, allowing instant person-to-person (P2P) and person-to-merchant (P2M) transactions.

Offline and Programmable Features

A key highlight of the e₹ is its offline functionality, enabling payments without internet connectivity using minimal network signals or NFC-based tap technology. This ensures accessibility even in rural and remote regions.

Additionally, the digital rupee introduces programmable features, funds can be restricted for specific uses, have expiry dates, or be geo-fenced for designated merchant categories.

Deployment in Government Schemes

The programmable version is already being tested in government programs like Gujarat’s G-SAFAL and Andhra Pradesh’s DEEPAM 2.0, ensuring efficient and transparent subsidy delivery.

Also Read: RBI Unveils Retail Digital Currency Sandbox!

Conclusion

With the introduction of the offline digital rupee, India becomes one of the few nations to operationalise a CBDC with universal usability. This innovation reinforces the country’s Digital Public Infrastructure, strengthens financial inclusion, and propels the FinTech ecosystem toward a more secure and connected future.

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