With the recent launch of the digital rupee by the central government, it has been announced that the digital rupee will be accepted at 17,000 Reliance retail stores in India.
Union Finance Minister Nirmala Sitharaman recently announced that digital rupee will be introduced in India. The Reserve Bank of India introduced digital currencies on December 1, while testing it across the country.
Digital currency was introduced by 8 banks including State Bank of India, ICICI Bank, S Bank, Kotak Mahindra Bank. At this stage, the company said that digital rupees will be accepted at 17,000 retail Reliance retail stores in the country.
It has been reported that Reliance Retail has partnered with ICIC Bank and Kotak Bank to accept digital rupees and after billing, if consumers want to pay digitally, they will be given a QR line that accepts digital rupees and they can make payments through that.
Regarding this, Reliance Retail Managing Director Subramanian said, ‘I believe digital rupee will be better than UPI system and transactions will be more secure and digital rupee will be accepted at all 17,000 Reliance stores in India safely.
While the digital rupee was introduced in only four cities namely Delhi, Mumbai, Bangalore and Bhubaneswar in the first phase on December 1st, now it has been extended to nine more cities and it is expected that orders will be issued to accept digital rupee in all cities across the country in the future.