eRupee (e₹-R) | India's first official digital currency

Gansan · 8th December 2022, 16:53

^^ The urea subsidy scheme is ridiculous. All fertilizer companies have to sell it at Rs 4000 (example) per ton. For which the government pays an approx subsidy of Rs 32k per ton to the companies.

Successive central governments have never allowed the price of urea to be increased. It's price is uniform throughout the country. I worked for one such company between 1984 - 2018. To my knowledge the price of the fertilizer never changed during the entire period! I think it is still unchanged now. It is a political hot potato.

Jaguar · 10th December 2022, 23:47

Since this wallet is not linked to a bank account, the possibility of losing all the money in the account to a scam/hack can be prevented per my understanding. Currently, I maintain a separate bank account with a limited balance just for UPI purposes. I can use this wallet instead and load it with cash as and when needed. I don't use Paytm so not sure if it supports it, but Amazon wallet balance cannot be used for UPI.

Need to see how the actual implementation will be and if this allows P2P transactions through Bluetooth without the need for an internet connection. That could be a massive advantage.

fordday · 3rd February 2023, 16:13

The other day I received an invite from Icici bank to join the Digital rupee.

Downloaded the app and went for the registrations but it needs to be connected to the bank account to start with. I thought the connection to the bank account was optional, but seems not so.

Someone who don't have a bank account, can't they use the Digital rupee ? I thought it was possible.

8th December 2022, 16:53	#31
Gansan Senior - BHPian Join Date: May 2009 Location: Chennai Posts: 4,535 Thanked: 5,561 Times	Re: eRupee (e₹-R) \| India's first official digital currency ^^ The urea subsidy scheme is ridiculous. All fertilizer companies have to sell it at Rs 4000 (example) per ton. For which the government pays an approx subsidy of Rs 32k per ton to the companies. Successive central governments have never allowed the price of urea to be increased. It's price is uniform throughout the country. I worked for one such company between 1984 - 2018. To my knowledge the price of the fertilizer never changed during the entire period! I think it is still unchanged now. It is a political hot potato. Last edited by Gansan : 8th December 2022 at 17:08.
	() Thanks

10th December 2022, 23:47	#32
Jaguar Senior - BHPian Join Date: May 2006 Location: Bangalore Posts: 1,208 Thanked: 2,547 Times	Re: eRupee (e₹-R) \| India's first official digital currency Since this wallet is not linked to a bank account, the possibility of losing all the money in the account to a scam/hack can be prevented per my understanding. Currently, I maintain a separate bank account with a limited balance just for UPI purposes. I can use this wallet instead and load it with cash as and when needed. I don't use Paytm so not sure if it supports it, but Amazon wallet balance cannot be used for UPI. Need to see how the actual implementation will be and if this allows P2P transactions through Bluetooth without the need for an internet connection. That could be a massive advantage.
	() Thanks

3rd February 2023, 16:13	#33
fordday BHPian Join Date: Aug 2010 Location: Bangalore Posts: 510 Thanked: 1,448 Times	Re: eRupee (e₹-R) \| India's first official digital currency The other day I received an invite from Icici bank to join the Digital rupee. Downloaded the app and went for the registrations but it needs to be connected to the bank account to start with. I thought the connection to the bank account was optional, but seems not so. Someone who don't have a bank account, can't they use the Digital rupee ? I thought it was possible.
	() Thanks