Reliance Retail To Accept Digital Rupee

February 03, 2023 Story: Divya Sinha

As per the reports, Mukesh Ambani’s Reliance Retail on Thursday announced the launch of in-store acceptance of the Digital Rupee.

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Reliance Retail has joined hands with Innoviti Technologies, ICICI Bank and Kotak Mahindra Bank to enable e- Rupee at its stores.

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Reliance Retail's Freshpik stores will be the first to take the e-Rupee and then it will be followed by all Reliance Retail stores.

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V. Subramaniam, Director of Reliance Retail said that this initiative is to offer the power of choice to Indian consumers.

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He further added that this initiative will help to provide an efficient and safe alternative payment method.

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RBI’s digital rupee in the retail segment comes in the form of digital tokens which are legal tender.

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Also, it is issued in the same denomination as paper currency and coins currently in circulation.

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