Categories: Trending now

RBI’s CBDC Can Now Be Accepted at Reliance General Insurance Through Yes Bank

Reliance General Insurance on Wednesday said it has become a forerunner general insurance company in the country to accept the Reserve Bank of India’s (RBI) Central Bank Digital Currency e-Rupee for premium payments.

The company has tied up with Yes Bank to facilitate the collection of premiums in the digital mode using the bank’s e-Rupee platform, a statement said.

Customers who have an active e-wallet with any bank can scan Reliance General Insurance’s e-Rupee QR code to make immediate payment, it said.

With this pioneering launch, the company is presenting its customers with an easy, safe, instant and green payment solution, and taking its promise of providing excellent customer experience to the next level.

e-Rupee is a digital token that is equivalent to a banknote i.e. legal tender, and is a sovereign currency backed by the RBI, it noted.

Being digital, e-Rupee removes all the issues of handling physical cash and offers the same anonymity as a banknote, it said.

Moreover, it said, since all e-Rupee transactions are done through an RBI-regulated entity, it reduces banknote-related risks like anti-money laundering, the counterfeit of currency etc.

Reliance General Insurance is enabling its customers to hedge such risks by providing e-Rupee as a form of digital currency transaction option thereby promoting safe financial transactions, it said. 

The pilot for the retail digital rupee was launched in Mumbai, New Delhi, Bengaluru and Bhubaneswar on December 1, 2022. The retail digital rupee project started in a closed user group with the participation of four leading lenders, including State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank. Later, it will be extended to Ahmedabad, Gangtok, Guwahati, Hyderabad, Indore, Kochi, Lucknow, Patna and Shimla. The scope of the pilot may be expanded gradually to include more banks, users and locations as needed.


Smartphone companies have launched many compelling devices over the first quarter of 2023. What are some of the best phones launched in 2023 you can buy today? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated – see our ethics statement for details.
News Today

Recent Posts

Kareena Kapoor’s Next Untitled Film With Meghna Gulzar Gets Prithviraj Sukumaran On Board

Kareena Kapoor is working with Raazi director Meghna Gulzar for her next film. The project,…

2 weeks ago

Purdue basketball freshman Daniel Jacobsen injured vs Northern Kentucky

2024-11-09 15:00:03 WEST LAFAYETTE -- Daniel Jacobsen's second game in Purdue basketball's starting lineup lasted…

2 weeks ago

Rashida Jones honors dad Quincy Jones with heartfelt tribute: ‘He was love’

2024-11-09 14:50:03 Rashida Jones is remembering her late father, famed music producer Quincy Jones, in…

2 weeks ago

Nosferatu Screening at Apollo Theatre Shows Student Interest in Experimental Cinema – The Oberlin Review

2024-11-09 14:40:03 A silent German expressionist film about vampires accompanied by Radiohead’s music — what…

2 weeks ago

What Are Adaptogens? Find Out How These 3 Herbs May Help You Tackle Stress Head-On

Let's face it - life can be downright stressful! With everything moving at breakneck speed,…

2 weeks ago

The new Mac Mini takes a small step towards upgradeable storage

Apple’s redesigned Mac Mini M4 has ditched the previous M2 machine’s SSD that was soldered…

2 weeks ago