Reliance General Insurance To Accept CBDC
By Kapil Rajyaguru
Reliance General Insurance has tied up with Yes Bank to facilitate the collection of premiums in the digital mode using the bank’s eRupee platform, a statement said.
Customers who have an active e-wallet with any bank can scan Reliance General Insurance’s eRupee QR code to make immediate payment.
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.
eRupee 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, eRupee removes all the issues of handling physical cash and offers the same anonymity as a banknote, it said.
Moreover, it said, since all eRupee 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 eRupee as a form of digital currency transaction option thereby promoting safe financial transactions, it said.
It may be recalled, India launch eRupee last November in wholesale segment, or interbank transactions, while the digital currency for retail segment followed next month.
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