Digital Rupee

Central Bank Digital Currency (CBDC), also known as the “Digital Rupee” or “eRupee”, is defined by RBI as a legal tender issued by a central bank in digital form. It is the same as sovereign currency and is exchangeable one-to-one at par (1:1) with existing currency. eRupee represents a direct claim on the central bank. It can be used to carry out transactions or store value digitally, similar to how currency notes are used in physical form.

Digital Rupee can be held in a wallet issued by a bank and can be linked to your existing bank savings account. The wallet is a digital version of your physical wallet and Digital Rupee can be loaded into or redeemed from this wallet through your linked savings account.

Digital Rupee (e₹) is a form of currency, a digital version of physical currency which one can use to make payments, whereas UPI or other fund transfer modes are only forms of payment. Digital Rupee (e₹) transactions take place through Digital Rupee Wallets and interoperable QR codes, whereas UPI, NEFT, RTGS and IMPS facilitate fund transfers from one bank account to another.

You can transact in Digital Rupee (e₹) through a convenient and safe digital wallet offered by Axis Bank. Digital Rupee (e₹) can be used to make payments to merchants and individuals, who also hold a Digital Rupee (e₹) wallet via mobile number or scanning Digital Rupee (e₹) QR codes. Digital Rupee app is interoperable with UPI and can also be used to scan and pay to existing UPI QR codes of merchants & users. You can also send money to your UPI contacts even if they do not have a CBDC wallet.

• Download the Axis Mobile Digital Rupee (e₹) App from Google Play Store or App Store.
• Select the SIM (linked to your Axis Bank Savings Account).
• Select the login method (PIN, Pattern or Biometric methods).
• Set a 6-digit wallet PIN.
• Select the Axis Bank Savings Account you wish to link to complete the KYC process.
• Validate the linked Axis Bank Savings Account using debit card details (last 6-digit number and expiry date).
• You are now ready to use Axis Bank Digital Rupee (e₹) app.

The maximum balance you can hold depends on the type of wallet you have:

• Retail Wallet: You can hold up to ₹1 lakh.
• Special Purpose Wallet: You can hold up to ₹5 lakh.
• Retail Wallet + Special Purpose Wallet: You can hold up to ₹1 lakh in your Retail Wallet and ₹5 lakh in your Special Purpose Wallet.

Note: The limits apply separately to each wallet type. If you have both wallets, you can utilize the eligible limit available in each wallet.

• You can transfer a cumulative amount of up to ₹50,000 or total of 20 Person-to-Person transactions and 30 Person-to-Merchant transactions in a day. For new customers, a cooling period of 24 hours is applicable after registration wherein cumulative transaction amount limit is ₹5,000 and total 20 Person-to-Person transactions and 30 Person-to-Merchant transactions in a day.
• Daily transaction limit of ₹50,000 will be applicable after 24 hours.
• Cooling period will also be applicable for 24 hours in the event if a customer re-registers after de-registration, changes the PIN in the app or re-installs the app after deleting it.

No. Only transfers (Send money via mobile number, CBDC QR and UPI QR) to both individual and merchants are considered in the daily transaction limits.

You can transfer maximum of ₹10,000 per transaction. During the 24-hour cooling period, the maximum transfer amount is ₹5,000 per transaction.

You can redeem a maximum of ₹1 lakh per day. However, during cooling period the daily redemption limit is ₹5,000 per day.

The maximum amount that can be loaded per day is ₹1,00,000. However, during cooling period you can load maximum of ₹ 5,000.

There is no monthly limit on the number of Person-to-Person (P2P) and Person-to-Merchant (P2M) transactions. However, there is daily limit of 20 Person-to-Person (P2P) transactions and 30 Person-to-Merchant (P2M) transactions.

No. You can only open and operate one wallet against your mobile number on Axis Mobile Digital Rupee App.

• Newly registered users
• Existing users who de-registered & re-registered
• Users who changed their MPIN
• Users who uninstalled & reinstalled the app

During cooling period, only a cumulative value of ₹5,000 or a total transaction count of 20 Person-to-Person transactions and 30 Person-to-Merchant transactions is allowed. The cooling period is 24 hours.

Digital Rupee can be loaded using Axis Bank Digital Rupee App.

• Download Axis Bank Digital Rupee App and complete registration.
• Choose the load option and enter the desired amount or select from the different denominations of Digital Rupee.
• Select the loading method as Linked Savings Bank Account.
• The amount is debited from the Bank Account and Digital Rupee Tokens are loaded in the wallet successfully.
• You can also select Load via UPI. This will help load your wallet using any account that is mapped to your UPI handle.
• When you load via UPI you will need to select the UPI App that you wish to use for completing the transaction.
• You will be redirected to the UPI App. Authenticate using the UPI PIN to complete the transaction.
• On success of this transaction your wallet will be loaded with the necessary amount.
• Note that you cannot use your Rupay Credit Card for loading the CBDC wallet.

Users can redeem or unload Digital Rupee to their linked savings account.

• Log-in to the Axis Bank Digital Rupee App and click on view wallet.
• Click on the Redeem button.
• Enter the amount to unload.
• Confirm the entered amount and enter wallet PIN.
• Digital Rupee Tokens are unloaded from your wallet and the linked Axis Bank Savings account will be credited with corresponding amount.

Yes, a Digital Rupee wallet can be closed or deregistered if it is no longer required.

• Log-in to Axis Bank Digital Rupee App and choose deregister wallet under profile section.
• Enter Wallet Pin to confirm the consent for deregistration.
• Any Digital Rupee balance available in the wallet will be automatically credited to the linked Axis Bank Savings Account.
• Post successful redemption, deregistration will be completed.

However, De-Registration of wallet would be blocked if:

• You have any unspent tokens in special purpose wallet.
• You have issued special purpose token to your contacts with active expiry.
• Any of your transactions are listed as pending.

Mobile number and scanning of QR code are 2 ways in which you can send money from your Digital Rupee (e₹) wallet to other registered users with Digital Rupee (e₹) wallet/ users with valid UPI QR Code.

• Log-in to Axis Bank Digital Rupee App and choose send option on home page.
• You can choose phone number/ contact option for payment to your contacts.
• Alternately you can choose QR code or the QR code scan option from the home page to scan the QR code to pay other individuals/ merchants.

Yes. You can scan and pay any merchant’s or individual’s QR code. Money shall be deducted from your Axis Digital Rupee wallet and credited in the receiver’s UPI linked bank account.

• Login to the Digital Rupee (e₹) app and click on settings >> PIN settings >> Forgot PIN.
• Enter last 6 digits of Axis debit card and the expiry date.
• Enter and re-enter the new PIN.

No, there are no charges/fees associated with receiving or transferring Digital Rupee (e₹) or issuance of Digital Rupee (e₹) wallets. There is no minimum balance requirement to open or maintain an e₹ wallet.

No. Since the Digital Rupee is a digital form of currency, no interest is paid on the balance held in your Digital Rupee (e₹) wallet.

You can raise disputes with Customer Care by calling at 1800 4030 or emailing digitalrupee.support@axis.bank.in

• No. A non-Axis Bank customer cannot use the Axis Digital Rupee Retail wallet. However the customers who do not have Axis Bank Savings account, can receive special purpose money from Sponsors (Government/ Corporates).
• Such sponsored users can download & register using the mobile number available with the sponsor/ Aadhar & completing their validation using a secret PIN/ Aadhar OTP.
• Only the limited sponsored/ eligible users who are invited to open a wallet can open a wallet without having an Axis Bank Savings Account relationship.

Customers can reach out to the bank for raising chargeback request for a scenario where the transaction was successful, but merchant is claiming that they have not received the transaction amount. Bank shall lodge a chargeback request with NPCI based on the customer’s consent. Concerned NPCI team shall investigate the claim. This process has a TAT of 15 business days. In the event chargeback request is rejected, customer can ask the bank to raise pre-arbitration request which has a TAT of additional 7 business days. If chargeback is successful, the bank shall credit the customer’s wallet in 3 business days. This is the prescribed process as per NPCI and the bank can assist but TAT is not in our control.

Note:For raising pre-arbitration request, customer needs to reach out to the bank and raise the request within 7 days of rejection of initial request.

To enable the Auto Load option you need to:

• Login to your Axis Bank Digital Rupee App.
• Turn on the toggle switch for Auto load on home screen.
• Read the Terms and Conditions for the feature and click on submit.

When enabled, this feature automatically loads the additional amount required to complete a transaction.

Please note: The maximum limit for Auto load is set at ₹2,000. When the excess amount exceeds the above threshold, you will have to load your wallet manually.

To enable PIN-Less transaction option you need to:

• Login to your Axis Bank Digital Rupee App.
• Turn on the toggle switch for PIN-Less transaction on home screen.
• Read the Terms and Conditions for the feature and click on submit.

This feature when turned “On”, will process payments of up to ₹500 without requiring the wallet PIN.

Please note: The maximum limit for Pin-Less transaction is set at ₹500 and the maximum daily cumulative limit for PIN-less transaction is ₹4,000.

Also note that PIN-less does not work for transactions where special purpose money is used.