SBI’s e-rupee can be accessed via UPI now: How it works and what this means

State Bank of India (SBI) has introduced UPI interoperability in its Digital Rupee (e rupee), also known as the Central Bank Digital Currency (CBDC).

The move connects CBDC with the UPI platform, potentially changing the payments landscape in India.

This feature is accessible through the ‘e rupee by SBI’ application and allows SBI CBDC users to scan merchant UPI QR codes for transactions.

When accepting payments via UPI or digital wallet, shops will be able to display only one QR code. It will make it easier to use the Digital Rupee in daily transactions