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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