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If you wish to start using the Digital Rupee (e₹), the first step is to create a Digital Rupee Wallet. The good news is that the process is quite simple. You can activate your Digital Rupee Wallet in just a few steps using your bank's mobile app or a dedicated e₹ Wallet app. Let’s find out who is eligible and the complete process for getting started.

What is the Digital Rupee?
The Digital Rupee (e₹) is not a cryptocurrency. It is India's official digital currency, issued and regulated by the Reserve Bank of India (RBI). It is legal tender and functions exactly like physical cash, except it is used in a digital format.

Who can create a Digital Rupee Wallet?
To use a Digital Rupee Wallet, you must hold an active savings account with one of the banks that are part of the RBI's Digital Rupee network. Initially, SBI, PNB, IndusInd Bank, and Federal Bank were included in this pilot project; the RBI has since added more banks to the initiative.

Additionally, your KYC (Know Your Customer) process must be completed. Only customers with an active account and valid KYC can avail themselves of the e₹ Wallet facility.

Which apps offer the Digital Rupee Wallet?
Banks provide this facility to their customers in two ways. Some banks offer the Digital Rupee or e₹ Wallet option directly within their mobile banking app, while others provide a separate e₹ Wallet app for this purpose.

Step 1: Look for the Digital Rupee option in the bank app
First, open your bank's mobile app. Look for options such as Digital Rupee Wallet, Retail CBDC, or e₹ Wallet. If your bank has a separate e₹ Wallet app, register through that instead.

Step 2: Check KYC and bank account details
Ensure that your KYC is complete and your bank account is correctly linked to your Aadhaar and PAN. Banks permit wallet activation only after verifying your KYC details.

Step 3: Create an e₹ Wallet and set a 6-digit PIN
Select the 'Create e₹ Wallet' or 'Register for Digital Rupee' option within the app. Next, accept the terms and conditions. Then, create a 6-digit PIN for security purposes; this PIN will be used to secure your wallet and to lock or unlock it.

Step 4: Add money via bank account or UPI
Once the wallet is activated, link your bank account to the e₹ Wallet. You can then load money into the wallet. Typically, funds are added from a bank account, though some banks also allow you to add funds via UPI.

How to make payments after the wallet is active?
Once your Digital Rupee Wallet is operational, you can easily make payments to other e₹ Wallet users. You can do this by scanning a QR code, using a mobile number, or opting for a direct transfer. If the recipient also has a Digital Rupee Wallet, the transaction is completed seamlessly.

A crucial point to note
The Digital Rupee is India's official digital currency issued by the RBI. If your bank supports this facility and your account is active with completed KYC, you can create your Digital Rupee Wallet in a few simple steps and start making payments using the digital currency.

Disclaimer: This content has been sourced and edited from NDTV India. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content