The Reserve Bank of India (RBI) has launched the offline digital rupee (e₹), marking a significant step in India’s digital finance journey. Announced at the Global Fintech Fest 2025 in Mumbai, the e₹ functions like digital cash, carrying the same trust and reliability as physical currency. Issued directly by the RBI and stored in secure digital wallets provided by participating banks, the e₹ enables instant person-to-person and person-to-merchant payments even without continuous internet connectivity, making it ideal for rural and remote areas.

The pilot program currently includes 15 banks, such as State Bank of India, ICICI Bank, HDFC Bank, and Union Bank of India, offering wallets downloadable via Google Play Store and Apple App Store. The offline functionality allows payments using minimal network signals or NFC-based tap technology, ensuring users can complete transactions seamlessly, regardless of connectivity challenges.

Beyond convenience, the e₹ introduces programmable features, allowing funds to be restricted for specific purposes, merchant categories, geolocations, or set with expiry dates. This programmability has already been utilized in government schemes like Gujarat’s G-SAFAL and Andhra Pradesh’s DEEPAM 2.0, enabling targeted subsidy delivery efficiently and securely. These features enhance transparency, accountability, and flexibility in fund utilization.

RBI Governor Sanjay Malhotra emphasized that the digital rupee complements India’s Digital Public Infrastructure, strengthening financial inclusion while fostering the growth of the FinTech ecosystem. With its offline and programmable capabilities, India is among the first countries to operationalize a central bank digital currency (CBDC) usable anywhere, supporting secure, scalable, and efficient financial services.

The introduction of the e₹ empowers individuals and businesses to transact digitally without dependence on internet availability, bridging gaps in access to financial services. By offering programmable features, the RBI also enables innovative applications, including restricted transfers, automated subsidy distribution, and location-based payment controls, enhancing governance and operational efficiency.

This initiative aligns with India’s vision to strengthen digital payments infrastructure, increase financial inclusion, and promote a robust FinTech ecosystem across the country. By combining offline functionality with programmable capabilities, the e₹ positions India as a global leader in operationalizing CBDCs for real-world use, providing secure, efficient, and widely accessible financial solutions.

In conclusion, the RBI’s launch of the offline digital rupee e₹ is a transformative development in India’s financial sector. It empowers users to make secure digital payments anywhere, expands access in underserved regions, and introduces programmable features for precise fund management, reinforcing India’s leadership in digital currency innovation and financial inclusion.

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