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Has it ever happened to you that you go to a shop to buy something and you neither have cash nor your UPI is working, in such a situation everyone in that shop starts staring at you as if you are a thief. But in such a situation, let us tell you what you can do.
Have you ever tried to make a payment through UPI, but the payment did not go through due to the server being down and you had no cash in your pocket? In such a situation, the first question that would have come to your mind would be how to pay the shopkeeper?
In such a situation, RBI’s digital rupee i.e. e₹ can be very useful for you. If you already have money in your e₹ wallet, then the payment is made without any hassle. This digital rupee works like cash, but it is completely digital.
Its biggest advantage is that it does not depend on UPI or bank servers at the time of payment. You just need to have money in your wallet and you can make payments easily. The special thing about e₹ is that it makes your small transactions easy. Suppose you went to a grocery store or bought something from a street vendor and UPI was not working. In such a situation, you can make payments with the help of e₹ wallet.
It is used like cash, but you don’t need to keep notes in your pocket. Also, these small transactions do not show up in your bank statement. All these records remain in the passbook of the e₹ app, keeping your bank statement clean. That is, your small purchases are accounted for separately, and your bank account does not appear unnecessarily full.
Setting up an e₹ wallet is very easy. It acts as a backup, which comes in handy when needed. Suppose, you are out somewhere, and the internet connection is bad or the bank server is down.
In such a situation, e₹ wallet solves your problem. You just have to keep some money in your wallet in advance. This money is in digital form, and you can use it to pay anyone, anywhere. It is so easy and reliable that you don’t have to worry about carrying cash.
Each bank’s e₹ wallet limit and per transaction limit may vary. Therefore, it is important to check with your bank. Some banks allow you to hold a higher amount, while others allow you to hold a lower amount. But it is very convenient for small purchases. It doesn’t take much time to set it up, and once it is set up, it is always ready for you.
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