The Reserve Bank of India (RBI) has unveiled its offline digital rupee (e₹), marking a significant milestone in India’s digital finance evolution. Announced during the Global Fintech Fest 2025 in Mumbai, the e₹ is India’s central bank digital currency (CBDC), designed to function like physical cash with the full trust of a sovereign currency. The RBI issues it directly, and it can be stored in secure digital wallets provided by participating banks, allowing instant peer-to-peer and person-to-merchant payments. One of its standout features is offline functionality, enabling transactions even in areas with weak or no internet using minimal network signals or NFC-based tap technology.
The pilot program currently involves 15 banks, including State Bank of India, ICICI Bank, HDFC Bank, and Union Bank of India. Users can easily download digital wallets via Google Play Store or Apple App Store. Beyond basic payments, the e₹ introduces programmable features that allow funds to be restricted for specific purposes, expiry periods, geolocations, or merchant categories. Such functionality has already been implemented in government schemes like Gujarat’s G-SAFAL and Andhra Pradesh’s DEEPAM 2.0, ensuring precise delivery of subsidies to beneficiaries.
RBI Governor Sanjay Malhotra highlighted that the e₹ is a key component of India’s Digital Public Infrastructure, furthering financial inclusion and strengthening the FinTech ecosystem. By combining offline usability with programmable capabilities, India positions itself among the first countries to deploy a CBDC that can be used securely anywhere. The initiative is expected to make financial services more scalable, efficient, and accessible, particularly in underserved and rural areas, while supporting the government’s vision of a modern, inclusive digital economy.
With this launch, the RBI reinforces India’s commitment to embracing digital currency innovation while bridging gaps in financial access, ensuring that both urban and remote populations can participate in the rapidly growing digital financial landscape.
