Reliance General to accept CBDC e-Rupee through Yes Bank

Reliance General to accept CBDC e-Rupee through Yes Bank

Daily Current Affairs   /   Reliance General to accept CBDC e-Rupee through Yes Bank

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Category : Business and economics Published on: May 01 2023

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  • Reliance General Insurance has become a forerunner general insurance company in the country to accept the Reserve Bank of India's (RBI) Central Bank Digital Currency e-Rupee for premium payments. 
  • The company has tied up with Yes Bank to facilitate the collection of premiums in the digital mode using the bank's eRupee platform.
  • Customers who have an active e-wallet with any bank can scan Reliance General Insurance's eRupee QR code to make immediate payment.
  • eRupee is a digital token that is equivalent to a banknote i.e. legal tender, and is a sovereign currency backed by the RBI.
  • Currently, Reliance General Insurance’s physical e-rupee QR code is available at select branches for walk-in customers to scan and pay instantly.
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