Central Bank Digital Currency (CBDC)
The Central Bank Digital Currency (CBDC), or Digital Rupee (e₹), is a digital form of legal tender issued by the central bank, equivalent to paper currency. It offers the same trust, safety, and settlement finality as sovereign currency, and is accepted as a medium of payment. By utilizing blockchain technology, e₹ enables secure, seamless, and instantaneous transactions without intermediaries, reducing settlement times. Karnataka Bank's Digital Rupee app, now available on Play Store and App Store, allows customers to hold and use digital rupee for payments through a digital wallet, ensuring robust security and fraud protection.Read more Read less
Key features
Digital rupee, now in your pocket
Travel, shop, or pay bills—all in one app. Experience KBL Mobile Plus today.
Available on Google Play Store and App Store.
As easy as 1,2,3...
Register for CBDC on KBL Digital Rupee app in 5 simple steps.
Step 1
Download the KBL Digital Rupee app from the Play Store or App Store
Step 2
Select the SIM linked to your KBL savings account
Step 3
Choose your login authentication method and set a 6-digit wallet PIN
Step 4
Choose your login authentication method and set a 6-digit wallet PIN
Step 5
Choose your login authentication method and set a 6-digit wallet PIN
Got questions? We’ve got answers.
Central Bank Digital Currency (CBDC) or Digital Rupee (e₹) is a digital form of currency issued by the central bank. It is held in a CBDC wallet that is issued by the bank. The wallet can be linked to your Karnataka Bank account for loading e₹. It is not different from bank notes but being digital, it is likely to be easier, faster and cheaper. It has all the transactional benefits of other forms of digital money.
A CBDC is a sovereign currency issued by central banks, in alignment with their monetary policy, as mentioned in the RBI concept note. CBDC appears as a liability on the central bank s balance sheet. It must be accepted as a medium of payment, legal tender, and a safe store of value by all citizens, enterprises, and government agencies. CBDC is freely convertible against commercial bank money and cash.
No. As per RBI, CBDC is aimed to compliment and create an alternate to physical currency and not replace current forms of money. It will provide an additional avenue of payment to users.
CBDC is a digital form of currency. However, other payment modes like UPI, NEFT, RTGS, IMPS etc. use an underlying currency/cash to transfer the funds
A CBDC wallet is a digital wallet on a phone which stores digital currency, just like a physical wallet stores physical currency. If you lose your physical wallet, retrieving it is very difficult. However, in the case of a digital wallet, the money is safe even if the device with the digital wallet is lost. You may retrieve the digital wallet easily with a PIN.
CBDC systems are built with robust security features to protect against fraud, unauthorized access and counterfeiting, ensuring the integrity of the CBDC
CBDC has fixed denominations akin to the existing physical currency denominations, such as ₹0.50, ₹1 coins and ₹2, ₹5, ₹10, ₹20, ₹50, ₹100, ₹200, ₹500 notes.
If you do not receive the refund within hours, please raise a dispute on the e₹ app by clicking on Raise Dispute button or contact our Customer Care on 1800 425 1444 or 1800 572 8031 or email us to CBDC@ktkbank.com.
No. There is no cost associated with CBDC or CBDC wallets. There is also no minimum balance required to open or maintain an e₹ wallet.
The Central Bank Digital Currency (CBDC), or e₹, brings numerous benefits that enhance the digital payment landscape. As a statebacked digital currency, it combines the reliability and security of traditional central bank money with the efficiencies of modern technology. Blockchain integration ensures instant, secure transactions and eliminates intermediaries, significantly reducing settlement times. e₹ also enhances financial inclusion by providing easy access to digital payments. Karnataka Bank s Digital Rupee app, available on Play Store and App Store, offers a secure digital wallet for seamless transactions, making it a versatile and efficient option for all customers.
