Leap towards Cashless Economy

Secure digital rupee.

  • Introduction
  • Benefits
  • Features
  • Eligibility Criteria
  • Document Required
  • Process
  • Merchant Finder
  • Most Important Terms and Conditions (MITC)

bobWorld Digital Rupee : Introduction

  • Digital Rupee (e₹) is a legal tender issued by the Reserve Bank of India in retail segment has components based on blockchain technology. Also called the “digital rupee” or e₹, it will offer features of physical cash like trust, safety and settlement finality with atomicity (i.e. immediate settlement of transactions) in digital mode.
  • e₹ represents a direct claim on the central bank. It can be used to carry out transactions or store value digitally, similar to the manner in which currency notes can be used in physical form.
  • Start using e₹ at listed merchants
    1. Digital rupee needs an acceptance infrastructure at merchants and this is being enabled in a phased manner.
    2. To begin with, the following list of merchants near you in Mumbai and Delhi have been enabled. We will be adding more to the list and will notify you when we enable a merchant near your vicinity.
    3. Keep transacting and enjoy the e₹ experience. Be a proud participant in the digital e₹, India's CBDC.

bobWorld Digital Rupee : Benefits

  • Load Wallet: Load your e₹ wallet via linked Bank of Baroda Link account or UPI from any Bank.
  • Pay for Goods and Services: Simply scan the e₹ QR code at listed merchants and make instant payments.
  • Send Money Instantly to Friends and Family: You can send e₹ to your friends and family, provided they have an e₹ Wallet.
  • Receive Instant e₹ Payments: Get instant money in your e₹ wallet from friends 24/7 as all transaction are instant.
  • Digital form of physical cash: Digital Rupee is the digital form of physical cash. All denominations available.
  • Pay to Merchants: You can use Digital Rupee to pay merchants using it as a payment option
  • Send or receive money instantly: Send or receive money to/from anyone, using their Mobile No. or QR Code.

bobWorld Digital Rupee : Features

  • Sovereign Currency issued by Central Bank
  • Liability on Central Bank’s Balance Sheet
  • Accepted as the medium of payment as legal tender
  • Free convertible against Cash
  • Lowers cost of issuance of Money and transactions

bobWorld Digital Rupee : Eligibility Criteria

# Type of Account Constitution Mode of operation
1 Savings (SB) Account SB account including zero balance accounts
NRE / NRO & Sukanya Samriddhi Accounts and Scheme Code SB136, SB137, CA131, SB155
Self(01), E or S(03), A or S(011)*
2 Current (CA) Account Scheme Code having eligible mode of operations Except Scheme code CA131 Self(01), Sole Proprietorship (29)
3 Over Draft (OD) Account Only following OD Schemes are allowed:
OD002,OD003,OD004,OD005,OD006, OD016, OD017, OD023, OD028
Self(01), Sole Proprietorship (29)


  • User have to use debitcard credential last 6 digit and expiry date of respective account to set Wallet PIN at a time of Registration.
  • Wallet PIN is having 6 Digit Numeric which is used to Scan and Pay (P2P & P2M) transfer and redeemed token.
  • For Loading Token through UPI Channel UPI PIN is required which is validated by Issuer Bank

bobWorld Digital Rupee : Document Required

NIL, Applicant must be existing customer of our Bank. Self on boarding from Play Store. (Currently available for Pilot Users)

bobWorld Digital Rupee : Process

Wallet Creation & Loading


  • First, click on load select the total token amount or select the different denominations of Digital Rupee.
  • Now, select the loading method from the following options:
    1. Linked Banked Account (if you want to use your linked Bank of Baroda Account)
    2. Other UPI Account (if you want to use any different UPI Account)
  • If you have selected the Linked Banked Account, enter the 6-digit Wallet PIN to authenticate the transaction.
  • If you have chosen “Other UPI Account”, a list of all UPI apps available on your phone will appear. You can select your preferred UPI app and then enter your UPI PIN, to complete the transaction.
  • The amount is debited from the Bank Account directly and Digital Rupee is loaded in the wallet successfully.


  • First, you must select the total token amount
  • Then, click on unload
  • Now, select the Linked Bank Account that needs to be credited
  • Digital Rupee Tokens will be unloaded from your wallet & the Bank Account will be credited


  • Log in to the wallet app and then click on the ‘Send’ option
  • Select the desired payment method (Phone Number or QR Code)
  • Enter the amount or select the number of different denominations of token that are available in the wallet and click on ‘Send’
  • You can also transfer confirmation to the user with the transaction ID

Conversion Rates & Denominations
  • The conversion rate will be 1 Digital Rupee = 1 Rupee and it will have the denominations as the physical Rupee i.e. ₹ 1, ₹ 2, ₹ 10, ₹ 20, ₹ 50, ₹ 100 , ₹ 500 and even 50 paise coins
  • The e₹ will be held in an e₹ wallet issued by banks like Bank of Baroda

As a bank that’s constantly at the forefront of introducing customer friendly features such as Monthly Interest Credits on Savings Account, ‘never expiring reward points’ on credit cards, lifetime free credit cards etc., we are happy to be a part of this pilot initiative of RBI in bringing the digital rupee revolution in India.

bobWorld Digital Rupee : Merchant Finder

bobWorld Digital Rupee : Most Important Terms and Conditions (MITC)


These terms and conditions ("Terms") apply to and regulate the provision of non-interest bearing legal tender issued by Reserve Bank of India ("RBI") in a digital form ("Digital Rupee") to Users (as defined hereinafter). Bank of Baroda will provide to the User, Digital Rupee in accordance with circulars and/or regulations issued by the Reserve Bank of India ("RBI") and/or National Payments Corporation of India ("NPCI") from time to time (collectively referred to as "Guidelines") subject to the terms and conditions herein specified.

  • In these Terms the following words and phrases have the meanings set opposite them unless the context indicates otherwise:
    1. "Account(s) refers to the resident Indian savings and /or current account(s) held and maintained with Bank of Baroda or resident savings and/or current account held with any scheduled commercial bank in India, to be used for Digital Rupee Transactions (defined hereinafter).
    2. "Digital Rupee Application" refers to the Bank of Baroda's mobile application which will facilitate all Digital Rupee Transactions.
    3. "Digital Rupee Transaction" refers to loading, redeeming and transfer of Digital Rupee (whether for purchase of goods and services or for fund transfer) through the Digital Rupee Application.
    4. Bank of Baroda (BOB) means Bank of Baroda, a body corporate constituted under Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 having its Head Office at Baroda, and Corporate Office at Baroda Corporate Centre, C-26, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai 400051, (hereinafter referred to as the “Bank” which expression shall, unless repugnant to the context include its successors and permitted assigns) of the One Part and assigns).
    5. Merchant/s" shall mean and include online, mobile app based and offline merchants who provide goods and services in exchange for payment through Digital Rupee
    6. User shall mean any person holding an Account with Bank of Baroda who is using the Digital Rupee Application to undertake transactions (such as fund transfer, purchase of goods and services) using the Digital Rupee.
    7. "Digital Rupee Wallet" shall mean the wallet set up during registration on Digital Rupee Application which shall hold the Digital Rupee(s) loaded or received via a transfer by User
    8. "Wallet Recovery" shall mean the process of getting access to the existing Digital Rupee Wallet, every time user reinstalls the App, clears the cache or changes the device using which registration was done
    9. "Wallet PIN" shall mean the 6 digit security PIN set by the User during registration process, which will be used to authenticate Digital Rupee Transactions, Wallet Recovery, & Deregistration (x) "Deregistration" shall mean deletion of Digital Rupee Wallet by the User.
  • Words or expressions used in this form, but not specifically defined herein shall have the respective meanings assigned to them by NPCI / RBI in their respective guidelines and circulars.

Applicability and Acceptance of Terms
  • Each User desirous of availing Digital Rupee, shall by way of a one-time registration, in such form, manner and substance as Bank of Baroda may prescribe, register in the Digital Rupee Application and configure the Digital Rupee Wallet for transacting in Digital Rupee. Bank of Baroda on its sole Discretion may accept or reject such application for registration. The User may apply to register by downloading the Digital Rupee Application and completing the registration process. By applying for registering and clicking on 1 accept in the Digital Rupee Application, the User accepts these Terms, which shall govern the use of Digital Rupees Application and Digital Rupee Transactions. The Terms shall be in addition to and not in derogation of the Guidelines issued from time to time.
  • The User hereby acknowledges that the User has read and understood these Terms and the Guidelines. Notwithstanding anything contained herein, all terms and conditions stipulated by Bank of Baroda in connection with the Accounts, Unified payments Interface (UPI) and any other payment solution/product shall continue to apply.
  • The User agrees that the Digital Rupee is offered in line with the RBI's and NPCI's Guidelines/directions which are subject to change from time to time. The User undertakes and confirms to keep itself updated from time to time with respect to any changes/ modifications/amendments carried out to the Guidelines and/or the Terms. Your usage of the DIGITAL RUPEE APPLICATION Services shall be construed as your consent for receiving calls and messages including auto-dialed and/or pre-recorded messages, from Bank of Baroda or third party vendors authorised by Bank at any time, on the telephone number / contact information that may be provided by you. You hereby unconditionally consent that such communications via SMS and/ or voice call is
    1. upon your request and authorization,
    2. ‘transactional’ and not an ‘unsolicited commercial communication’ as per the guidelines of Telecom Regulatory Authority of India (TRAI) and
    3. in compliance with the relevant guidelines of TRAI or such other authority in India and abroad.

Scope and term of the CBDC
  • Digital Rupee is a legal tender, in a digital form, Issued by RBI. It is thus, exchangeable with the fiat currency. On the Digital Rupee Application, User will be able to set up/configure their Digital Rupee Wallet and conduct transactions using Digital Rupee in accordance with the technological interface and functionalities provided by Bank of Baroda, RBI and/or NPCI from time to time. Bank of Baroda will provide the Digital Rupee Application to the Users which will use the infrastructure provided by NPCI and RBI for facilitating Rupee Application
    1. DIGITAL RUPEE APPLICATION Services are enabled to provide digital cash facility to you which is part of your valid bank account.
    2. You should already be a TOKEN registered user in order to avail DIGITAL RUPEE Wallet Services.
    3. All valid bank accounts of yours linked on TOKEN apps may not be eligible for DIGITAL RUPEE Wallet and enablement of a valid bank account.
    4. If the Issuing Bank restricts any facility to your bank account enabled or not on DIGITAL RUPEE Wallet, it may have a direct impact on DIGITAL RUPEE Wallet Services being extended to you.
    5. In case of any inactivity for a specific period of time Bank shall have the right to terminate or suspend the ERupee Wallet Services to you.
    6. In the process of enabling ERupee Wallet Services, electronic funds as may be available in your valid bank account, while such funds are parked with the Issuing Bank it will reflect on the homepage of your DIGITAL RUPEE application App.
    7. Any limit to the electronic funds shall be identified basis certain parameters by the DIGITAL RUPEE application App in its sole discretion.
    8. DIGITAL RUPEE Wallet Service can be further replenished with funds from the valid bank account which was enabled for provisioning of DIGITAL RUPEE Wallet Services.
    9. Any available electronic fund balance shall not be subject to any interest charge of whatsoever nature.
    10. Any refund or reversal of funds under a transaction will appear in your valid bank account only.
    11. An additional factor authentication may not be required for a DIGITAL RUPEE Wallet transaction.
    12. By agreeing to the DIGITAL RUPEE Wallet Terms and Conditions, you understand that transactions done through DIGITAL RUPEE Wallet may or may not be displayed in the official statement of your valid bank account

Rights and Obligations of User
  • The User shall be entitled, subject these Terms, to conduct Digital Rupee Transactions on and from the Digital Rupee Wallet.
  • The instructions shall be issued by the User, in the form as prescribed by Bank of Baroda, which is complete in all particulars. The User shall be responsible for the accuracy of the particulars given in the instruction and bank shall not be liable any way to user error in the instruction.
  • Bank of Baroda disclaims all liability for execution of any instruction in good faith and in compliance with the particulars given by the User.
  • The User authorizes Bank of Baroda to fetch its Account details for the purposes of creation of the Digital Rupee Wallet and to link the Account to the Digital Rupee Wallet and further authorizes Bank of Baroda to debit/credit its Account(s) and/or the Digital Rupee Wallet as per instructions received from the User. User further understands that the Digital Rupee is a "bearer instrument' and that whoever owns the Digital Rupee at a given point in time, such Digital Rupee would be assumed to be owned by them.
  • The User shall ensure availability of funds in his Account(s) and/or Digital Rupee in the Digital Rupee Wallet, as the case may be, towards the fulfilment of the instruction. The User hereby authorizes Bank of Baroda to debit the Account(s) and/or Digital Rupee Wallet of the User for any liability incurred by Bank of Baroda on behalf of the User for execution of the instruction issued by the User.
  • The User agrees that any instruction given by the User for any Digital Rupee Transaction shall become irrevocable when it is executed by Bank of Baroda.
  • The User agrees that it shall not be entitled to make any claim against RBI and/or NPCI in respect of Digital Rupee Transactions.
  • The User shall provide correct and accurate details on the Digital Rupee Application in the format prescribed by Bank of Baroda. The User shall be solely responsible for entering any incorrect details/erroneous transactions while undertaking. Transactions using Digital Rupee. Bank of Baroda shall not conduct any independent verification of any details provided by the User.
  • The User shall not hold Bank of Baroda responsible for any damage, claim, and issue arising out or in connection with any purchase of goods/services from Merchants. The User understands and agrees that all such losses, damages and issues shall constitute a claim against such Merchants.
  • User hereby understands that as part of registration process Digital Rupee Application will require the User to undergo device binding process through which User's mobile device's details will be verified and stored with Bank of Baroda. User hereby consents and authorizes Bank of Baroda to conduct such device binding and store User's device details for the purpose of providing the Digital Rupee Application.
  • You are responsible for maintaining the confidentiality of your User Account’s password and the TOKEN Pin, and other details associated with DIGITAL RUPEE APPLICATION Transactions and you are solely responsible for all activities that occur under your password, TOKEN Pin, mobile phones on which DIGITAL RUPEE APPLICATION is enabled. You agree to notify Bank immediately of any unauthorized use of your password or TOKEN Pin or any other breach of security related to Transactions on DIGITAL RUPEE APPLICATION. If you know or suspect that someone else knows your password or TOKEN Pin, you should immediately notify Bank and take appropriate measures to change the same. Bank shall not be liable to any person for any loss or damage which may arise as a result of any failure by you to protect your password or TOKEN Pin or User Account or in otherwise complying the provisions here.
  • Users can send Digital Rupee to Users registered with Bank of Baroda’s Digital Rupee Wallet using such User's mobile number. For this purpose, User hereby gives Bank of Baroda consent to access User's contacts on their mobile to enable Bank of Baroda to provide this facility. For sending Digital Rupee to any person who avails Digital Rupee other than from Bank of Baroda (i.e. in other bank's digital rupee application), the User can use QR code or mobile number for such Digital Rupee Transactions.
  • User understands and agrees that only the last ten Digital Rupee Transactions shall be displayed in the Digital Rupee Application at a given point in time and in order to know older Digital Rupee Transactions, User shall contact Bank of Baroda’s customer care. User further understands and agrees that Digital Rupee Transactions shall not appear in the official statement of accounts of the Account held with Bank of Baroda.
  • User understands that Wallet Recovery is possible only using Wallet PIN and mobile number with which User had registered on the Digital Wallet Application. In case User loses the mobile number, user will not be able to do a Wallet Recovery. In case user forgets Wallet PIN, user will have to reset wallet PIN to do Wallet Recovery
  • User understands that, User will not be able to reset Wallet PIN if the linked Account is closed/in freeze/non-operational/dormant, or if there is no active debit card linked to the Account.
  • User understand and agrees that request for specific denominations of Digital Rupee shall always be subject to availability of the said denominations with Bank of Baroda. User further agrees that Digital Rupee Transactions can only be made in accordance with denominations available. However, User can request for change management from Bank of Baroda. For e.g., if User A has Digital Rupee of 100, but wants to send 260 to User B. In that case, upon request, Bank of Baroda will take 100 token from User A & return a change of 40 (Two tokens of 20 each) to User A and send ₹60 to User B.
  • User understands that internet connectivity is necessary for conducting any Digital Rupee Transactions and any Digital Rupee Transactions conducted while User's device is offline shall not be processed.

Rights and Obligations of Bank of Baroda
  • No instruction issued by the User shall be binding on Bank of Baroda until Bank of Baroda has accepted it.
  • Bank of Baroda may review the Digital Rupee Transactions for identifying high risk transactions and reserves the right to not process the Digital Rupee Transaction if it believes it to be suspicious, fraudulent or unusual and report the Digital Rupee Transaction, Digital Rupee Wallet details and Account(s) details. to legal enforcement agencies or other regulatory authorities as applicable or notified by law.
  • Bank of Baroda shall have the right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits held in the Account(s) to the extent of all outstanding dues, whatsoever, arising as a result of the Digital Rupee Transaction.

Sharing of Information
  • The User irrevocably and unconditionally authorises Bank of Baroda to access and use all information of the User's Account(s) and records received while providing the Digital Rupee Application and services under it and share such information with:
  • Bank of Baroda's employees/agents/group entities/ auditors, regulators, statutory authorities; or credit bureaus/credit rating agencies, Central Know
  • Your Customer Registry; or
  • Bank of Baroda's service providers or any such person with whom Bank of Baroda contracts or proposes to contract in relation to the provision of the Digital Rupee Application and to enable Digital Rupee Transactions;
  • For the purposes of:
    1. Providing the Digital Rupee Application including on-boarding formalities and to enable Digital Rupee Transactions.


Bank reserves the right to modify, suspend, or discontinue DIGITAL RUPEE Wallet and associated services at any time without notice to you. For example, Bank may make changes to these DIGITAL RUPEE Wallet Terms and Conditions, at any time without notice.


The User agrees and undertakes to use the DIGITAL RUPEE APPLICATION Services only for genuine and legitimate transactions and shall not use the same for any illegal transactions / activities including sale or purchase of banned products and services. Bank shall not be responsible for reviewing or checking into the compliance by the User of these DIGITAL RUPEE APPLICATION Terms and Conditions. Bank reserves the right to suspend or terminate your use of DIGITAL RUPEE APPLICATION if it suspects, at its sole discretion, that the User is using DIGITAL RUPEE APPLICATION for any illegitimate or fraudulent purposes.


  • In a manner that violates any local, state, national, foreign, or international statute, regulation, rule, order, treaty or other law (each a "Law");
  • To impersonate any person or entity or otherwise misrepresent your affiliation with a person or entity;
  • To upload, post, email, transmit or otherwise make available any content that is unlawful, harmful, threatening, abusive, harassing, torturous, defamatory, vulgar, obscene, libellous, invasive of another’s privacy, hateful, or racially, ethnically or otherwise objectionable;
  • To reverse engineer, modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, or sell any information or software obtained from the App; or
  • To interfere with or disrupt the App or servers or networks connected to the DIGITAL RUPEE APPLICATION App.
  • use any data mining, robots, or similar data gathering or extraction methods in connection with DIGITAL RUPEE APPLICATION;
  • Attempt to gain unauthorized access to any portion of DIGITAL RUPEE APPLICATION services or any other accounts, computer systems, or networks connected to DIGITAL RUPEE APPLICATION and the App, whether through hacking, password mining, or any other means.

Disclaimer of Liability
  • The User agrees and acknowledges that Bank of Baroda shall not be liable and shall in no way be held responsible for any damages whatsoever whether such damages are direct, indirect, incidental or consequential and irrespective of whether any claim is based on loss of revenue, interruption of business, transaction carried out by the User and processed by Bank of Baroda, information provided or disclosed by Bank of Baroda regarding User's Account(s) or Digital Rupee Wallet or any loss of any character or nature whatsoever and whether sustained by the User or by any other person. While Bank of Baroda shall endeavour to promptly execute and process the Digital Rupee Transactions as proposed to be made by the User, Bank of Baroda shall not be responsible for any non-response or delay in responding due to any reason whatsoever, including due to failure of operational systems or any requirement of law. Bank of Baroda shall not be liable for any loss, claim or damage suffered by the User and/or any other third party arising out of or resulting from failure of a Digital Rupee Transaction on account of time out transaction i.e. where no response is received from NPCI or the beneficiary bank and/or where mobile number of the beneficiary does not exist. Bank of Baroda shall under, no circumstance, be held liable to the User if Digital Rupee Application access is not available in the desired manner for reasons including but not limited to natural calamities, legal restraints, faults in the telecommunication network or network/internet failure, or any other reason beyond the control of Bank of Baroda
  • All the records of Bank of Baroda in relation to the Digital Rupee Transactions arising out of the use of the Digital Rupee Application and the Digital Rupee Wallet, including the time the transaction is recorded shall be conclusive proof of the genuineness and accuracy of the Digital Rupee Transaction. For the protection of both the parties, and as a tool to correct misunderstandings, the User understands, agrees and authorizes Bank of Baroda, at its discretion, and without further prior notice to the User, to monitor and record any or all telephonic conversations between the User and Bank of Baroda and any of its employees or agents. Bank of Baroda expressly disclaims all warranties of any kind, whether express or implied or statutory, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose, data accuracy and completeness and any warranties.


You agree to indemnify, defend, and hold harmless Bank (as defined below) from and against any and all claims, liabilities, damages, losses, costs, expenses, or fees (including reasonable attorneys' fees) that bank may incur as a result of or arising from your (or anyone using your User Account's) breach or violation of these DIGITAL RUPEE APPLICATION Terms and Conditions (including without limitation or representation, warranties and or covenant) or misrepresentation with respect to your information or arising out of your violation of any applicable laws, regulations including but not limited to intellectual property rights, payment of statutory dues and taxes, fraudulent transactions or other rights. Bank reserves the right to assume the exclusive defence and control of any matter otherwise subject to indemnification by you and, in such case, you agree to cooperate with Bank defence of such claim. This clause shall survive the expiry or termination of these DIGITAL RUPEE APPLICATION Terms and Conditions.

  • These DIGITAL RUPEE Wallet Terms and Conditions are effective unless and until terminated by Bank. If you breach any of these Terms and Conditions, your authorization to use ERupee Wallet may be terminated, at the sole discretion of PSO.
  • ERupee Wallet services will automatically terminate if (i) the User’s bank account enabled for ERupee Wallet is closed; or (ii) the Bank in which the User holds the account linked to TOKEN Services ceases to be a Member Bank.
  • The User will remain responsible for all the Digital Rupee Transactions made through the Digital Rupee Application even after such termination. Bank of Baroda may suspend or terminate the provision of the Digital Rupee Application to the User anytime without assigning any reasons whatsoever.


User can deregister from the facility using Deregistration option in the mobile App.

General Conditions

The laws of India shall govern these terms and conditions and/or the operations in the Account(s) maintained with Bank of Baroda. Any legal action or proceedings arising out of these Terms shall be brought in the courts or tribunals at Mumbai in India Bank of Baroda may, however, in its absolute discretion commence any legal action or proceedings arising out of these Terms in any other court, tribunal or other appropriate forum, and the User hereby consents to that jurisdiction. The clause headings in these Terms are only for convenience and do not affect the meaning of the relative clause. Bank of Baroda may sub-contract and employ agents to carry out any of its obligations hereunder. Bank of Baroda may transfer or assign its rights and obligations under this contract. Its obligations hereunder. Bank of Baroda may transfer or assign its rights and obligations under this contract to any other entity. Bank of Baroda has the absolute discretion to amend or supplement any of the Terms as stated herein at any time and will endeavour to give prior notice of fifteen days for such changes on the app or wherever feasible. By continuing to use the Digital Rupee Application, the User shall be deemed to have accepted the changed Terms. In addition, Bank of Baroda may also publish notices of general nature, which are applicable to all Users in a newspaper or on its website at www.bankofbaroda.com. Such notices will have the same effect as a notice served individually to each User. Any provision of these Terms, which is prohibited or unenforceable in any jurisdiction, shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of these Terms or affect such provision in any other jurisdiction.

Dispute Redressal Mechanism
  • User understands that any refunds, reversals, in the event of a failed transaction shall be done within T+2 working days.
  • For grievances in relation to Digital Rupee Transaction, the User can raise a dispute through the Digital Rupee Application or call Bank of Baroda customer care on 18005700 . Bank of Baroda shall make best efforts to resolve the grievances and provide appropriate response in the event the grievance is attributable to a default by Bank of Baroda

Frequently Asked Questions (FAQs)

  • How Does the Digital Rupee Work?

    The RBI will create tokens, and issue them to financial entities called Token Service Providers (TSPs), which are the banks selected for the Digital Rupee Pilot Program. The TSP will then distribute the tokens to interested parties/customers. The digital Rupee tokens will work in the same way as bank notes/coins, and you can use them in lieu of cash.

    You may store digital Rupees in your bank’s digital wallet CBDC-R app. The digital wallet works in the same way as your cash wallet, except these transactions will be entirely paperless.

  • Who can use e₹?
    • As part of the Second pilot of the Central Bank Digital Currency – Retail (Digital Rupee - e₹), few banks such as Bank of Baroda have been selected to roll out the e₹ to and can be used by customers and merchants.
    • You can transact in e₹ through a convenient and safe digital wallet. This e₹ wallet will be like your physical wallet in digital form, on your android device. Currently it is not available for iOS users.
    • We will open the application to more customers as and when we receive the intimation from the RBI.
  • How is e₹ different from Cash, UPI, and Cryptocurrency?

    Cash vs e₹

    e₹ is closest in comparison to cash. When you pay cash, the physical note/coin goes from your wallet to someone else’s. Similarly, a user transfers e₹ from their e₹ Wallet to someone else’s.

    UPI vs e₹

    Unlike e₹, which is a currency, UPI is only a payment system which allows transfer of money from one bank account to another through an intermediary.

    Bitcoin vs e₹

    A cryptocurrency is a decentralized asset where transactions between parties are settled by a pool of users. In e₹, the central bank takes responsibility for ensuring the transactions are settled.

    Besides, e₹ will enjoy the same stability in value as the rupee while cryptocurrencies can be very volatile.

  • How to transact with e₹ on bob World Digital Rupee?
    • Once you have enrolled, just download bob World Digital Rupee Wallet app and choose your desired amount of e₹.
    • You can also select the denominations. Just like physical currency, the e₹ is available in ₹1, ₹2, ₹10, ₹20, ₹50, ₹100 and ₹500 denominations.
    • The loading process is simple. Once you have e₹ in your bob World Digital Rupee Wallet, you can use them to purchase goods and services at numerous merchants that are part of the e₹ pilot program. All you have to do is scan and pay.
  • What is a central bank digital currency (CBDC)?

    Central Bank Digital Currency (CBDC) also known as “Digital Rupee” or “e₹” is a legal tender, similar to sovereign paper currency, and is issued in digital form by the Reserve Bank of India. e₹ will offer features of physical cash like trust, safety and settlement finality with atomicity (i.e. immediate settlement of transactions) in digital mode. e₹ represents a direct claim on the central bank. It can be used to carry out transactions or store value digitally, similar to the manner in which currency notes can be used in physical form.

  • How e₹ is different from UPI or other fund transfer mode (NEFT/RTGS/IMPS)?

    e₹ is a form of money, a digital representation of physical currency, whereas UPI or other fund transfer modes are forms of payment. Therefore, usage of e₹ is not limited to payments. e₹ also serves the purpose of ‘unit of account’ and importantly, ‘store of value’ as it represents a claim on the Reserve Bank’s balance sheet. Moreover, e₹ will have additional attributes specific to currency which will be tested in future pilots.

  • Is e₹ same as cryptocurrency such as bitcoin?

    No. e₹ is digital form of currency notes unlike other cryptocurrencies such as bitcoin. e₹ has intrinsic value and is regulated by the RBI. e₹ will always have same value as of physical bank currency notes which is a legal tender issued by the central bank unlike crypto assets such as bitcoin. Cryptos like bitcoin do not exhibit any features of a currency, do not have any intrinsic value, and are neither backed by assets nor issued by a central trusted authority.

  • Will e₹ replace cash, debit cards and credit cards?

    No. Reserve Bank of India in its concept note states that e₹ is aimed to complement and create an alternate to physical currency and not replace current forms of money. It is envisaged to provide additional avenue of handling money to users.

  • Is e₹ (Digital rupee) accepted worldwide?

    No. In the first pilot, payments can be accepted only by merchants and individuals who are included in the closed user group.

  • How to register/sign up for e₹ for the first time users?

    Below are the simple steps to follow to install the app and register for CBDC (e₹). Please note that you will only be able to register on the app if you are selected for the first pilot of e₹.

    Bank of Baroda has sent details along with link via SMS on your registered mobile number. An email also is sent to registered email ID with details and link. You can search the email with Subject line “Invitation to participate in the first pilot of Central Bank Digital Currency - Retail (Digital Rupee - e₹)”

    • Click on the link which you have received via SMS or email to download the e₹ (Digital Rupee) app.
    • Once the app is downloaded, allow permissions to send SMS and phone call
    • Read Terms & Conditions and Click on accept to continue.
    • Click on start registration.
    • Select the SIM Card with registered mobile number and click on verify SIM. This will allow your device to send a SMS to our system to complete SIM verification. After verification click on continue.
    • Click on Set App PIN and authenticate with your device password (PIN, Face Unlock or Fingerprint)
    • Enter your name in the field provided and click on Choose Wallet
    • Enter your 6–digit PIN in first input field. Confirm your 6-digit PIN in the second input field. Click on the “tick” button to proceed.
    • Click on Select Wallet. “Bank of Baroda Account” will be selected. Click on continue (This will allow app to fetch existing Bank of Baroda Account linked to the registered mobile number).
    • List of your Bank of Baroda Account will appear, select the account linked to your Debit Card. You can create one wallet with one bank.
    • Enter last 6 digits and expiry of your Debit Card. Click on “Next” to continue.
    • Your Sign up/registration is complete. Now, you can start using e₹ (Digital Rupee app)
  • How can I load money in my e₹ wallet?
    • On the home page of the app, click ‘Load’
    • Enter the amount or select denominations by swiping up for the amount you want to add & click on ‘Load e₹’
    • You can now add e₹ to your wallet from your Bank of Baroda Savings Account or from different UPI apps also you can use others UPI enabled Bank account to load money.
    • Make e₹ (Digital Rupee) payments to the registered beneficiary on their mobile number or scan e₹ (Digital Rupee) QR code
  • How do I send payments using e₹?
    • On the homepage of the app, click on send.
    • You can send e₹ (Digital Rupee) via Digital Rupee VPA or Phone number of the beneficiary who has registered for the e₹ (Digital Rupee) or Scan e₹ (Digital Rupee) QR code.
  • Why do I see e₹ with different denominations in the app?

    e₹ has fixed denominations akin to the existing physical currency denominations.

  • Which are the merchants who will accept e₹ (Digital Rupee)?

    Click here to see the list of merchants who are part of the current pilot program.

  • How to redeem e₹ from wallet and get money back to my linked bank account?
    • On the home page of the app, click on Redeem.
    • Select denominations by swiping up for the amount you want to redeem. Click on ‘Redeem digital Rupee’.
    • Choose the linked bank account to be credited and follow the onscreen instructions.
  • Why I have not received invite to participate in the first pilot of Central Bank Digital Currency?

    As it is the first pilot launched by the Reserve Bank, Bank of Baroda has rolled out invites to few customers only as of now. Invitees would have been received by SMS / Email or WhatsApp from the Bank of Baroda on their registered mobile nos. and email ids.

  • What mobile OS platform does e₹ app currently support?

    It is currently available for use only on Android devices.

  • Is e₹ Secure and Private?

    Yes, e₹ is safe and secure. There is a robust cyber-security framework to ensure that e₹ is kept secure.

  • What is a e₹ Wallet?

    e₹ is India’ official digital currency that is being issued by the Reserve Bank of India and it can only be held in a e₹ wallet issued by banks. This wallet can be linked to your existing Bank of Baroda account. The wallet is a digital representation of your physical wallet and e₹ can be withdrawn/ deposited from your existing bank account into this wallet.

  • How many wallets customer can hold?

    Only one e₹ wallet can be held in a particular bank against the registered mobile number.

  • Is Savings account mandatory for customers to use e₹ (Digital rupee)?

    During this pilot, Bank of Baroda’s savings account is mandatory for customers and current account is mandatory for merchants to use e₹ (Digital rupee) in the pilot.

  • Can a non- Bank of Baroda customer use e₹ (Digital rupee)?

    Non- Bank of Baroda customers cannot use Bank of Baroda e₹ (Digital rupee) app in pilot, as they are not invited by Bank of Baroda for e₹ (Digital rupee) Pilot. However, they may use their own bank Digital rupee wallet to transact with e₹ (Digital rupee), if they are invited for pilot by respective bank.

  • Do I have to maintain a minimum balance of e₹ (Digital rupee) in my wallet?

    No. “Digital Rupee” or “e₹” is a legal tender, similar to sovereign paper currency, therefore, this is not applicable.

  • Will I be paid interest on my e₹ wallet?

    No, as it is Digital form of currency note, there is no interest paid on digital currency in your e₹ wallet.

  • Are there any charges/fees on using e₹

    No. There are no charges/fees associated with e₹ or e₹ wallets.

  • Can I use e₹ via ATM cards or Online Banking?

    No. e₹ cannot be directly used via ATM cards or online banking. e₹ can be used to make payments to merchants and individuals, who are also included in the group, by using your e₹ wallet.

  • Can I transfer e₹ directly to someone else’s bank account or UPI VPA?

    No. e₹ can only be transferred to e₹ (Digital Rupee) wallet. However, you can redeem e₹ from the e₹ wallet to your linked bank account.

  • Will my transaction show “Pending” as it sometimes shows in UPI?

    You may have to wait till your transaction get either successful or fail.

  • Will I receive SMS from bank after each transaction, as I used to get in UPI transactions?

    Yes, you will receive an SMS for every financial transaction involving e₹.

  • Can I use this for investment? Will the value of e₹ appreciate/grow?

    No. The value of e₹ is equivalent a physical currency. There is no interest paid on e₹.

  • Can I save my taxes by investing in these tokens?

    No. “Digital Rupee” or “e₹” is a legal tender, similar to sovereign paper currency, therefore, this is not applicable.

  • What if I lose/change my phone?

    You can recover your wallet by using the same phone number/sim on e₹ (Digital rupee) wallet.

  • What if user enter wrong Wallet PIN during a transaction?

    In case you input the wrong PIN more than 3 times as day, then the transaction on e₹ app will be temporarily blocked. Customer need to reset the Wallet PIN or wait for 24 hours to unlock.

  • How to reset Wallet PIN if customer has forgotten it?
    • Click on settings in the e₹ app
    • Go to PIN settings
    • Click on Forgot PIN
    • Enter last 6 digits of Bank of Baroda debit card and the expiry date
  • I am getting some technical issues related to e₹ (Digital rupee) App?

    You can contact Customer Care at 18002584455.

  • Whom can I reach out for support or raise disputes?

    You can raise disputes via e₹ wallet or you can reach out to our customer care for further enquiries. You can contact Customer Care at 18002584455.

  • While loading e₹ wallet, what if account debited but wallet not credited with e₹ (Digital rupee)?

    In such cases, money will be refunded back to your account. Sometimes this takes longer than intended. If you do not receive the refund within 48 hours( during pilot phase), please raise a dispute on the e₹ app or contact Customer Care. You can contact Bank of Baroda customer Care at 18002584455

  • Does the transfer of tokens happen only during banking hours?

    All transactions are instant and are available 24/7.

  • How to de-register/delete CBDC wallet?
    • To de-register the e₹ wallet, first redeem the Digital Rupee to your linked bank account.
    • Click on Profile icon on top left corner of the home screen.
    • Select De-register option in the menu
    • Prompt will be shown about wallet being deleted, click on continue.
    • Authenticate with your wallet PIN and wallet will be de-registered.

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