What is a Digital Rupee?

• The digital form of the fiat money, the rupee, is called the Digital Rupee.
• Rupee of India It is equivalent to a fiat which is a currency published on paper can be swapped with other fiat currencies
• The legal tender issued in digital form is a central bank digital currency. It's a fiat currency with a distinct form that may be exchanged one-for-one with government-issued money. To put it another way, CBDC is the same as the legal tender you use. It's only that it's available in digital format.
• A CBDC is a digital version of fiat currency that will make transactions more convenient. CBDC was previously described in a paper by the RBI as a 'secure, resilient, and convenient alternative to physical cash.' It can also take on the complicated shape of a financial instrument, according to the RBI report, depending on numerous design decisions.

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