ICICI BANK Digital Rupee Wallet

                                                                   

As you know that RBI will launch digital rupees online and ICICI BANK will launch a separate ICICI BANK Digital Rupee wallet because it will be India’s first digital currency that will be issued by official sources.

ICICI 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, ICICI BANK can reduce the ATMs, branches & ICMC process. Which will save money also.

What is the ICICI BANK Digital Rupee wallet?

After issuing the CBDC digital rupees online, all the institutions like ICICI BANK will launch an ICICI 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 the ICICI Bank’s digital wallet will work?

ICICI BANK Digital Rupees wallet will have a unique crypto address, which you will share with others to receive digital rupees online. Only the central bank or CBDC will have the entire transaction information. It will be fast, and secure with a global reach.

Is ICICI BANK digital rupee wallet safe?

All transactions by ICICI BANK digital wallet will be safe and secure but if your mobile phone will be hacked or you will share your ICICI BANK digital rupee wallet secret key with others. Your balance may “0” within a minute.

Are there any transaction charges on ICICI BANK digital rupee wallet?

Right now, several wallet companies are charging some transaction charges on the crypto transactions, which is commission or slippage. Yes, ICICI BANK can change yearly digital wallet charges or transaction charges, or merchant fees.

How to register in ICICI 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 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 are really a revolutionary product for RBI & govt of India because RBI is spending lakhs of 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, ICICI Bank is spending lots of crore in sorting, feeding ATMs and cash transactions. They will also save money.

Now ICICI bank has launched the ICICI CBDC Digital Rupee Wallet, which you can directly download from here.

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