How do first-time e-rupee users register/sign up?
Synopsis
Few clients were chosen to be a member of the Closed User Group (CUG) in the first trial of central bank digital money. It, like currency notes, may be used to carry out transactions and store value digitally.
The “Digital Rupee” or “e-rupee” is legal currency issued in digital form by the Reserve Bank of India, comparable to sovereign paper money. It, like currency notes, may be used to carry out transactions and store value digitally.
Who is eligible to utilise e-rupee?
“In the first pilot of central bank digital currency – Retail (Digital Rupee – e-rupee), a few customers have been selected to be a part of the Closed User Group (CUG) in a few locations,” according to the SBI website. We will add additional consumers after we obtain notification from the RBI.”
How can e-rupee be used?
State Bank of India offers a simple and safe digital wallet via which you may transact in e-rupee. You may use your e-wallet to pay merchants and anyone who are also members of the organisation. Payments may be made to merchants by scanning a unique QR code displayed at each location.
For first-time users, how can they register or join up for e Rupee?
Install the app and register for CBDC (e) by following the easy steps outlined below. Please bear in mind that, according to the SBI FAQs on digital rupee, you will only be allowed to register on the app if you are selected for the first pilot of e rupee.
State Bank of India has delivered information to people who have been pre-selected for CUG (Closed User Group) through registered cellphone number. An email with information is also sent to the registered email address. You may look up the email address erupee@sbi.co.in.
Step 1: Go to the Google Play Store and download the e Rupee (Digital Rupee) app.
Step 2: A pop-up window will appear requesting SMS and phone call authorization.
Step 3: Read the Terms and Conditions and, if they are acceptable, click Accept to proceed.
Step 4: Select “Start Registration.”
Step 5: The installed SIM cards will be seen. Select the SIM Card with the registered mobile number (with the bank) and click on the SIM verification button. This will enable your device to send an SMS to our system in order to finish the SIM verification process. After verification, click the Continue button.
Step 6: Select Set App PIN and enter your device’s password (PIN, Face Unlock, or Fingerprint).
Step 7: Enter your name in the given space and click Choose Wallet.
Step 8: Type your PIN into the first entry area. In the second entry area, confirm your PIN. To continue, press the “tick” button on the number pad.
Step 9: The “Wallet Successfully Created” screen will appear. Select View Wallet Address.
Step 10: Click the Select Wallet button. The option “Link State Bank of India Account” will be chosen. Continue (This will enable the app to retrieve existing State Bank of India accounts associated with the registered mobile phone).
Step 11: Choose the account you want to link to the wallet and click on Select this bank account. You can only use one bank to create one wallet.
Step 12: The Enter Card Details screen will appear. Enter your debit card’s last six numbers and expiration date. To proceed, click on the next button once it appears.
The notification “Bank Accounts successfully linked” will show. The sign-up/registration process has been completed.
You may now begin using e-Rupee (Digital Rupee app).
How can I get money into my eRupee wallet?
Step 1: On the app’s home page, click the ‘Load’ button.
Step 2: Enter the amount or choose denominations by swiping up for the amount to be added. Select ‘Load digital Rupee’.
Step 3: To add digital rupees to your wallet, choose one of the options below and follow the on-screen instructions.
- Fund transfer from your connected State Bank of India account
- Fund transfer using various UPI applications
Following successful PIN verification, the connected account will be debited and the e Rupee (Digital Rupee) wallet will be instantaneously credited in the corresponding denominations.
