E-rupee worth Rs. 5.70 crore in circulation

After the launch of the central bank digital currency (CBDC), or e-rupee, on December 1, 2022, the value of retail digital rupee in circulation amounted to just Rs 5.70 crore involving 17.1 lakh pieces of notes (digital) as on March 31, 2023, the Reserve Bank said.

When compared to this, the currency with public (physical notes) was Rs 33.66 lakh crore as on May 5, 2023, indicating that digital rupee is yet to make any impact in the country.

There were around 0.50 lakh Rs 500 digital rupee pieces in circulation worth Rs 2.71 crore, the RBI said in its Annual Report. There were 0.60 lakh Rs 200 digital notes valued at Rs 1.16 crore and 0.80 lakh Rs 100 digital notes worth Rs 83 lakh in circulation, the central bank said. Rs 500 digital rupee accounts for 47.5 per cent of the total e-rupee in circulation, the RBI said in its Annual Report.

The RBI has also launched the digital versions of 50 paise (Rs 0.50), Re 1, Rs 2, Rs 5, Rs 10, Rs 20 and Rs 50 in a closed user group. It has even launched 2.7 lakh pieces of 50 paise digital rupee valued at Rs one lakh.

On the other hand, the total value of wholesale digital rupee – used in the securities transactions – is just Rs 10.69 crore, showing that it has failed to make any impact in the segment.