(Poll) Digital Rupee v/s UPI - Does UPI even have competition?

With banks rolling out invites for digital rupee pilots, inquisitiveness does set in. Large banks like HDFC Bank, ICICI Bank, and Bank of Baroda have started inviting users for the pilot.

  • Never heard of Digital Rupee. What is it?
  • Received an invite, but is it really useful?
  • Signed up for it and do not see a use case as yet

0 voters

However, do you see any use case for the digital rupee? Do you think it has any chance of competing with the popularity and use cases of UPI? Share your thoughts and comments.

Digital rupees currently available for Delhi and Mumbai only. Not even for all user, currently under invite only and i am from North 24 Parganas,(Near to Kolkata) so currently we don’t have any way to access it.

Interesting. Thank you sharing that insight


Where is SBI and Canara? Did they started inviting users?
I have accounts in SBI and Canara, but yet to receive any news on digital rupee from them.

@Surojit_Ghosh May be that why I am yet to receive any access to it.

Received digital rupee invite from kotak bank but not tried yet
Waiting for invites from other banks.
Bdw Are we allow to open multiple digital rupee wallet account from multiple bank???

Currently digital rupees provided by this banks- ICICI, HDFC, Kotak, Union bank of india, Canara, Axis, SBI, IDFC, Indusind, BOB, Federal Bank.

Edit: Yes bank.

I don’t think it is possible, cause only one wallet is possible per mobile number.

I guess we can open multiple Digital Rupee account but at a time only one account
FAQ on CBDC from sbi website


My wife received the invite from HDFC Bank and we went ahead with the registration to understand the experience. After the sign up and loading the wallet with different denominations, we are still trying to figure out its exact use case. Guess, long term it could replace person-to-person UPI transactions.

RBI already has plan to integrate CBDC (e-rupee) with the existing UPI infrastructure. I think with the interoperability we can expect a wide range of use cases and applications in future.


The project still early but CBDC can bring in programmability.

Let’s say if goods are delivered then deduct cash from my wallet else don’t.

Govt can start UBI where it can air drop coins for food and you can only buy food.

So it’s powerful tool but there are cons if the system is centralised.


I completed the beta form in kotak bank . Since I am not a part of tier 1 city, I think it would take time. :woozy_face:

I am waiting for its linking with UPI system

According to the concept note on CBDC, RBI has mentioned that users don’t even need bank account to use it.

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Imagine I have a 100 rs note and 500 rs note.

I want to sent someone 101 rs. How does that 1 re note be made possible :thinking:

Coin denomination also included in the E- Rupee



Like @DigitaL mentioned, you can see coins too


The sad part of all of this - folks on Android get to test it and experience it. This is the part I miss after moving to iOS


Here’s an interesting video on e-rupee, you guys can check it out


I signed up for ICICI digital rupee pilot. But currently , I don’t see any merchants near by that accept e- rupee. I’m thinking e-rupee will be mostly used as programmable currency as people are already used to transact using UPI. Until UPI and e rupee are interoperable, I don’t see much use for most of the users.

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I do think so.