India's digital currency

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known as the Digital Rupee or e-Rupee, is a form of central bank digital currency (CBDC) issued by the Reserve Bank of India (RBI). The Digital Rupee is an electronic version of the Indian Rupee, intended to provide a digital alternative to physical cash while maintaining the legal tender status of traditional currency.

Key Features

• Legal Status: The Digital Rupee holds the same legal status as physical currency and can be used for transactions, payments, and settlements.
• Types of e-Rupee:Retail CBDC (e₹-R): Designed for use by the general public, functioning like digital cash that can be stored on mobile devices or other digital wallets.
• Wholesale CBDC (e₹-W): Intended for interbank settlements and large-scale financial transactions.
• Blockchain Technology: The Digital Rupee is built on blockchain and distributed ledger technology (DLT), ensuring secure, transparent, and efficient transactions.
• Interoperability: The Digital Rupee can be used alongside other forms of digital payments like UPI (Unified Payments Interface) and traditional banking methods, making it versatile.Anonymity and Privacy: While the Digital Rupee aims to provide some level of anonymity similar to cash, it is expected to have more traceability than physical currency due to its digital nature.Government 
• Objectives: The introduction of the Digital Rupee aligns with India's broader goals of promoting digital financial inclusion, reducing the costs associated with printing and managing physical currency, and enhancing the efficiency of the financial system.
• The RBI has been conducting pilot projects to test the e-Rupee across various segments of the economy. The ultimate goal is to create a digital currency that is secure, reliable, and easy to use for all citizens.