By Admin 
Digital Rupee: People in India are using digital payments very fast. Most people transfer money through UPI in just a few seconds. But now another word is being discussed in the world of UPI and the word is Digital Rupee. Many people think that digital rupee and UPI are the same thing, but it is not so. Although both are used for digital payments, but the way they work is completely different. If you also want to use digital rupee, then know from here what is digital rupee and how different it is from UPI. Also, it is mentioned here what risks there may be in it.
What is digital rupee?
Digital Rupee is a central bank digital currency issued by the Reserve Bank of India. In simple language, it is the digital form of cash rupees. Just like you have a 100 rupee note, similarly the digital rupee is also equal to 100 rupees. The only difference is that it is kept in a mobile app or digital wallet.
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What is the difference between UPI and digital rupee?
Now talking about the difference between UPI and digital rupee, the biggest difference is that UPI is a payment system, whereas digital rupee itself is a currency. When you send money to someone through UPI, the money goes from your bank account to the other person’s bank account. At the same time, in digital rupee, the money from the bank account first comes to the digital wallet and then from there it is transferred to the digital wallet of another person. Meaning it is just like a cash transaction.
How does it work?
To use digital rupee, you need a digital rupee wallet of a bank which is linked to this project of RBI. Digital rupees are loaded into the wallet from the bank account. After this, digital money can be sent by scanning the QR code or directly to another wallet.
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What is the risk?
Digital rupee is quite safe, but it does not mean that there is no risk in it. If your mobile is lost and wallet is not safe then there can be trouble.
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