Mumbai, Maharashtra, India: The Reserve Bank of India (RBI) has introduced a groundbreaking development in digital payments during the recent Global Fintech Fest 2025 held in Mumbai. With this innovation, Indians can now conduct digital transactions without the need for an internet connection. The RBI has officially unveiled its Offline Digital Rupee (₹), aimed at making payments simpler for residents in rural, eastern, and hard-to-reach areas. This move strengthens India’s position as one of the world’s most digitally advanced nations.

Understanding the Digital Rupee ()

The Digital Rupee, also called e₹, is a digital form of India’s central bank currency (CBDC) and is directly issued by the RBI. Users can store e₹ in RBI-approved wallets and use it for a variety of payments including medical bills, education fees, shopping, and peer-to-peer transfers — even without holding a bank account. The Indian government emphasizes that this initiative will promote broader financial inclusion across the country.

Banks Offering e₹ Wallets

Currently, 15 major banks are participating in the RBI’s retail CBDC pilot project. These include State Bank of India (SBI), ICICI Bank, HDFC Bank, Yes Bank, IDFC First, Union Bank, Bank of Baroda (BOB), Kotak Mahindra, Canara Bank, Axis Bank, IndusInd Bank, Punjab National Bank (PNB), Federal Bank, Karnataka Bank, and Indian Bank. Users can easily register by downloading the e₹ application from the Google Play Store or Apple App Store. Once logged in, payments can be executed offline, with no charges or interest applied. Moreover, the wallet can be recovered even if the device is lost.

How the Offline Feature Operates

The offline e₹ function is specifically designed to serve regions with limited or unstable internet connectivity. It operates through:

• Telecom-based offline payments: Enables transactions even with weak network signals.
• NFC tap payments: Allows payments by tapping two devices together.

Through these methods, users can perform real-time payments without an internet connection. Beyond being a digital currency, e₹ is also programmable. The government and auhorized entities can limit its usage for specific purposes, such as:

1. Gujarat G-SAFAL Scheme: Special e₹ for beneficiaries.
2. Andhra Pradesh DEEPM 2.0 Scheme: e₹ restricted to LPG subsidy payments.

RBI Governor Sanjay Malhotra highlighted that India’s leadership in fintech stems from its robust digital public infrastructure (DPI), including Aadhaar, UPI, and DigiLocker. The offline e₹ initiative will provide a “digital cash” experience even in areas where internet access is scarce.