RBI (Reserve bank of india (RBI)) is about to launch the Central bank wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital currency (CBDC). The RBI has released an explanatory note on the same. The purpose of the RBI is to create awareness about wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital currencies. The objectives, benefits and risks of the wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital currency or e-rupee are all in it. RBI has also explained the application of technology, design, potential and uses of the wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital rupee, implications of introducing wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital currency, financial benefits and privacy issues.

RBI has also announced that e-rupees for special purposes will be issued soon. These e-rupees will be issued on an experimental basis. RBI also stated that reliability and efficiency are the other features of wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital currency. In the last budget session, Finance minister Nirmala Sitharaman informed the parliament that RBI is seriously considering the issue of the wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital rupee. Central bank wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital currency is issued by RBI in wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital form. It also has the same value as the existing currency. These will be fully controlled by the Reserve bank of India. The RBI had earlier shared the concern that cryptocurrencies like Bitcoin and Ether are being used for tax evasion and terrorism. 

Digital Rupee is also launched to overcome these. wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital Rupee will work based on electronic vouchers. E-Rupee is developed by National Payments Corporation. It is a wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital payment system. Transactions can be done using a QR code or SMS-based e-Rupee received on the customer's mobile phone. A customer can transact without the help of wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital payment apps, payment cards and internet banking of the users of this system. E-rupee can be used for providing medicines to children, women etc. and for various government schemes. The scheme can be utilized for services like maternal and child welfare schemes, tuberculosis control programs and fertilizer subsidies.

These rupees will be distributed by the public sector and private banks of the country. Those who need the service can approach the banks. An aadhaar number is not mandatory to use this system only the customer's mobile number is required. The ultimate aim behind the introduction of the e-Rupee or wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital currency is to promote wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital transactions in the country.