Digital Rupee by UBI 0.0.19

Union Bank of India – Freeware – Android

Digital Rupee (e₹) is a digital currency issued by the Reserve Bank of India, functioning as legal tender similar to physical currency. The Union Bank of India offers an e₹ wallet that allows users to transact using the digital rupee. Through the Union Bank of India e₹ app, customers can access their e₹ wallet and transfer funds conveniently.

In order to promote the adoption of the Union Bank of India e₹ app, invitations to join are being extended to both customers and merchants via email and SMS. Currently, access to the app is limited to selected customers in Mumbai and Bangalore. For any queries or concerns, please reach out to our toll-free helpline at 1800 2222 44.

Overview

Digital Rupee by UBI is a Freeware software in the category Business developed by Union Bank of India.

The latest version of Digital Rupee by UBI is 0.0.19, released on 04/16/2025. It was initially added to our database on 02/10/2024.

Digital Rupee by UBI runs on the following operating systems: Android.

Digital Rupee by UBI has not been rated by our users yet.

Pros

Facilitates digital transactions, making them faster and more secure.
Reduces the need for physical cash, aligning with digital finance trends.
Backed by Union Bank of India, which adds credibility and trust.
Easy integration with existing banking services and mobile apps.
Potential for lower transaction fees compared to traditional banking services.
Promotes financial inclusion by providing easier access to banking services for underserved communities.

Cons

Limited acceptance among merchants and businesses compared to cash or cards.
Initial skepticism from some users regarding the security and reliability of digital currencies.
Potential for technical issues or outages disrupting access to funds or services.
User education and awareness may be required, especially for those not familiar with digital finance.
Regulatory uncertainties around digital currencies could impact usage and trust in the system.

FAQ

What is Digital Rupee by UBI?

Digital Rupee by UBI is a digital currency introduced by Union Bank of India.

How can I use Digital Rupee?

Digital Rupee can be used for online transactions, peer-to-peer transfers, and digital payments within the Union Bank of India ecosystem.

Is Digital Rupee a stablecoin?

Yes, Digital Rupee by UBI is pegged to the value of the Indian Rupee, making it a stable digital currency.

Can I exchange Digital Rupee for physical cash?

Yes, Digital Rupee can be exchanged for physical Indian Rupees through the Union Bank of India at a 1:1 exchange rate.

Is Digital Rupee secure?

Digital Rupee transactions are encrypted and secured using blockchain technology, ensuring a high level of security and data integrity.

Are there any fees associated with using Digital Rupee for transactions?

Union Bank of India does not charge any transaction fees for using Digital Rupee within its ecosystem.

How can I acquire Digital Rupee?

You can acquire Digital Rupee through the Union Bank of India's designated digital wallet or by converting physical Indian Rupees into Digital Rupee through the bank.

Can I transfer Digital Rupee to other banks or wallets outside of Union Bank of India?

At the moment, transfers of Digital Rupee to external banks or wallets are limited to those within the Union Bank of India's partnered network.

Is there a limit on the amount of Digital Rupee I can hold or transact with?

The maximum limit on holding and transacting with Digital Rupee is subject to Union Bank of India's specified guidelines and regulatory restrictions.

Is Digital Rupee legal tender in India?

Digital Rupee is recognized by Union Bank of India as a form of digital currency but is not considered legal tender by the Reserve Bank of India.

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