Mahindra & Mahindra CEO Anand Mahindra showcases India's new digital currency 'e-rupee' in viral video

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 Anand Mahindra, a prominent business magnate, recently purchased fresh fruit from a local vendor using India's digital currency, known as the 'e-rupee' or 'e-R.' He proceeded to demonstrate the payment process in a video shared on Twitter, showcasing how the transaction was conducted using digital money to buy pomegranates from vendor Bachche Lal Sahani. Mahindra also mentioned that Sahani was among the first retailers to accept 'e-rupee' payments. The industrialist stated that he learned about the digital currency during a Reserve Bank of India board meeting, and decided to test it out at the fruit stall immediately after the meeting.

 


The CEO of Mahindra & Mahindra, Anand Mahindra, recorded the entire process of purchasing fruit using the 'e-rupee' digital payment system, which was a first-of-its-kind demonstration. The video was later shared on Twitter to demonstrate to people how to use 'e-rupee' for everyday financial transactions, along with a hashtag supporting 'Digital India.' Following its release on social media, the video quickly became viral.

The 'e-rupee' is the Reserve Bank of India's first digital currency, launched as a pilot program on December 1, 2022. 'E-R' is a digital token representing legal tender in India, also known as 'e-INR' or 'e-Rupee.' The central bank will issue digital money in the same denominations as physical currency notes and coins, and retail 'e-rupee' transactions will be processed through a digital wallet accessible on mobile devices and other platforms. Currently, digital money is being distributed through banks, and owners can easily use 'e-rupee' for peer-to-peer and peer-to-merchant transactions. Safe payments to merchants can also be made using QR codes displayed at supported locations.

 

Location: India