State Bank of India, the country's largest government bank, has given a big gift to crores of its customers on Monday. State Bank of India said on Monday that the bank has implemented the service of UPI interoperability in its digital rupee. The digital rupee of State Bank of India is called Central Bank Digital Currency i.e. CBDC. After this facility of the bank, it will be easy for people to make payment in digital currency. Earlier this facility was also started by Axis Bank and Yes Bank.
According to the statement issued by State Bank of India, with this step the bank aims to provide unprecedented convenience and access to its customers. This state-of-the-art facility will be available to customers through e-Rupee by SBI app. Customers will be able to easily scan any UPI QR code and make payments without any hassle.
There will be a revolution in digital payment
State Bank of India had started the project of retail digital e-Rupee in December last year. Now with integration with UPI, payment service will become easier. Actually, SBI aims to bring a revolution in the field of digital payments in India. Since State Bank of India is the largest bank in the country. Therefore, the more people join this, the more it will be beneficial and its reach will increase. The bank believes that this step will increase the scope of CBDC integration and in future it will be able to bring a new revolution in the digital field.
What is the method of payment?
Digital Rupee or E-Rupee is the digital or electronic form of notes and coins. E-Rupee is a digital currency issued by the Reserve Bank of India. When you register e-money in the wallet. Then you can make payment through this. For this you will have to upload money in e-Rupee wallet. If you are a customer of SBI then you have to go to the home page of SBI app and click on load. In SBI you get the option to transfer money from your linked account. Once the money is uploaded, you can transfer money through different UPI.
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