Mobikwik is the first digital wallet to launch the full version of e-Rupi. The e-Rupi wallet is now available to all Android users of Mobikwik. It enables seamless peer-to-peer (P2P) and peer-to-merchant (P2M) transactions.

You can scan UPI QR

Users using Mobikwik e-wallet can make payments by scanning any UPI QR code. It is fully interoperable on UPI. New Mobikwik users will have to complete video KYC before opening an e₹ wallet. Currently, the daily transaction limit in e-Rupee wallet is Rs 50,000. The transaction limit is Rs 10,000 and the currency denominations are 50 paise, ₹1, ₹2, ₹5, ₹10, ₹20, ₹50. ₹100, ₹200 and ₹500 are available in e-Rupee.

What did the company’s MD say

MobiKwik MD Bipin Preet Singh said- We hope that CBDC will digitize the Indian rupee and further expand the digital economy. Our goal is to adopt e-rupee in India and move towards a less cash economy.

How were the results of the September quarter

One Mobikwik Systems Limited incurred a loss of Rs 3.59 crore in the July-September 2024 quarter. The company had a profit of Rs 6 crore in the September 2023 quarter. The company’s total income increased to Rs 294 crore in the September 2024 quarter. It was Rs 207 crore in July-September 2023. Total expenditure also increased to Rs 287 crore, while it was Rs 196 crore in the same quarter of FY 2023-24.

Share status

Talking about Mobikwik’s stock, it is at Rs 415. On Tuesday, the stock closed 3.92% higher than the previous day. During trading, the stock reached the level of Rs 437.40. Let us tell you that the company was listed in the stock market last year.

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The Reserve Bank of India (RBI) has announced the launch of a pilot project of Digital Rupee at the retail level. RBI has informed that it will bring a pilot project for Retail Central Bank Digital Currency (CBDC) from December 1.

RBI gave information

According to the information given by RBI, on December 1, retail will launch the first batch for Digital Rupee (e₹-R). The digital rupee will be in the form of a digital token, which will remain legal tender. The digital rupee will be issued in the same denominations in which paper currency and coins are currently issued. RBI has informed that on December 1, this test will be done at selected places in the Closed User Group (CUG). This will include both the customer and the bank merchant. Right now 4 banks have been included in this.

Know how the transaction will happen

RBI said that merchants can be paid using QR codes at merchant establishments. Users will be able to transact with e-R (e₹-R) through digital wallets offered by partner banks and stored on the mobile phone. Transactions Person to Person (P2P) and Person to Merchant (P2M) can be both.

These four banks were included

Let us tell you that four banks including State Bank of India and ICICI Bank will be included in this test, which will be tested in Delhi, Mumbai, Bengaluru and Bhubaneswar. Let us tell you that the digital rupee will be distributed through banks and users will be able to transact in e-rupee through digital wallets offered by banks participating in the pilot test. That is, the customers of these banks will get its benefit.

The post Digital Rupee: RBI made a big announcement, Digital Rupee will be launched for common people on December 1, know how e₹-R will work first appeared on Rightsofemployees.com.