As you know that RBI will launch digital rupees online and HDFC Bank will launch a separate HDFC Bank Digital Rupee wallet because it will be India’s first digital currency that will be issued by the official sources.
HDFC Bank knows the importance of the Digital world and blockchain and they will never miss this opportunity to encash. They know that digital rupees will help them to reduce the branch load and cash process, which is a liability & they are spending too much money on it.
Because of digital mudra, HDFC Bank can reduce the ATMs, branches & ICMC process. Which will save money also.
What is HDFC Bank Digital Rupee wallet?
After issuing the CBDC digital rupees online, all the institutions like HDFC Bank will launch an HDFC Bank Digital rupee wallet which will hold your all-crypto rupees like a traditional wallet. Crypto rupees will be digital virtual rupees and they will be treated as legal tender in India.
How HDFC Bank’s digital wallet will work?
HDFC Bank Digital Rupees wallet will have a unique crypto address, which you will share with others to received digital rupees online. Only the central bank or CBDC will have the entire transaction information. It will be fast, secure with a global reach.
Is HDFC Bank digital rupee wallet safe?
All transactions by HDFC Bank digital wallet will be safe and secure but if your mobile phone will be hacked or you will share your HDFC Bank digital rupee wallet secret key with others. Your balance may “0” within a minute.
Are there any transaction charges on HDFC Bank digital rupee wallet?
Right now, several wallet companies are charging some transaction charges on crypto transection, which is commission or slippage. Yes, HDFC Bank can change yearly digital wallet charges or transaction charges or merchant fees.
How to register in HDFC Bank DIgital Crypto wallet?
RBI digital rupee is a new concept and right now all the financial institutions are understanding the process. As per the standard crypto wallet process. You have to download the RBI or bank’s digital rupees wallet from Google Play or the Apple store.
After the downloading, you have to enter a few basic details like KYC, email, mobile number and secret key. After entering all data, the application will send one email to your account along with OTP on mobile.
Once you will enter both OTP (Email and Mobile). You will register as a user in your wallet. Now enter your bank account/UPI details for transactions.
Digital rupees is really a revolutionary product for RBI & govt of India because RBI is spending lakhs crore rupees to print, mint and circulation. On average Reserve bank of India is paying up to rs 20 rupees for 100 to 2000 rupees per note for printing.
Apart from the RBI, HDFC Bank is spending lots of crore in sorting, feeding ATMs and cash transactions. They will also save money.
What is HDFC Bank’s Digital wallet?
HDFC Bank’s digital wallet is a virtual purse to keep CBDC’s digital rupee. This means you can keep Indian cryptocurrency in that wallet.
How can I get an HDFC Bank Digital rupee wallet?
HDFC Bank will provide you option in its existing application to opt digital wallet and you can download HDFC Bank digital wallet from the google play store or apple store directly.
Is HDFC Bank Digital rupee wallet safe?
Yes, HDFC Bank digital wallet is safe and secure. Now one can track the transaction.
How to register in HDFC Bank digital rupee wallet?
It is a very simple process to register in HDFC Bank’s digital rupees wallet. download the application from google play or the apple store. Follow the above procedure and register yourself in 5 minutes.