Billionaire Anand Mahindra Shares Video Of Him Using RBI's E-Rupee, Tweets To Explain How To Use It

Industrialist Anand Mahindra has been an active user of Twitter and keeps posting about off-beat topics and successful and inspiring stories, besides also replying to netizens' questions sometimes.

In a recent video, he shared his experience of using the RBI's newly launched E-Rupee and explained it too.

Anand Mahindra Uses E-Rupee

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In a tweet, the Mahindra Group chairman and billionaire used India¡¯s digital currency, "e-rupee," or "e-R," to buy fruits from a local vendor. He shared a "how it works" video on Twitter, giving a glimpse of his fruit purchase using the new payment system launched by RBI.

In the captions for the video, Anand Mahindra wrote that he learned about the digital currency, ¡®e-rupee,¡¯ at the Reserve Bank of India¡¯s board meeting. To test it, the business magnate visited Bachche Lal Sahani, a local fruit seller, right after departing from the meeting. The fruit seller is one of the first merchants to accept "e-rupee" transactions and has been a part of RBI's project.

At the Reserve Bank¡¯s board meeting today I learned about the @RBI digital currency-the e-rupee. Right after the meeting I visited Bachche Lal Sahani, a nearby fruit vendor who is one of the first merchants to accept it. #DigitalIndia in action! (Got great pomegranates as well!) pic.twitter.com/OxFRWgI0ZJ

¡ª anand mahindra (@anandmahindra) January 25, 2023

Anand purchased pomegranates from the vendor and settled the payment with digital money (e-rupee). He captured the whole fruit purchase cycle and the swift payment settlement in a video.

Later, he shared the video on Twitter to educate people on "how to use e-rupee for everyday payments." The businessman added a hashtag promoting "Digital India" to his post. The video went viral soon after its release on social media platforms.

The tweet already has over 1.6 million views, over 3,300 retweets, and nearly 30,000 likes.

Also Read: Anand Mahindra Says He Never Wants To Be India's Richest Person

Is E-Rupee The Same As UPI?

indiatimes

No. Contrary to a popular misconception that e-rupee and UPI are the same, there are multiple ways in which the two are different from each other.

Firstly, the e-Rupee is a legal tender, whereas UPI is a payment medium. Secondly, banks are not required as intermediaries for e-Rupee, whereas they are in the case of UPI. The next difference is that, unlike UPI, the e-Rupee is not limited to just currency, as it is also a "unit of account" and a "store of value." For more details about the differences, click here.

Also Read: Explained: How RBIs Digital Rupee (e?) Is Different From UPI

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