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Digital Rupee Add Money Failed

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sshah6416

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Today I loaded 3900 to sbi digital erupee app using other upi option in app. Money deducted from upi account but add money failed due to limit exceed. so how many days required to issue refund???
Any other have face similar issue in any bank e rupee app??
 
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sshah6416 said:
Today I loaded 3900 to sbi digital erupee app using other upi option in app. Money deducted from upi account but add money failed due to limit exceed. so how many days required to issue refund???
Any other have face similar issue in any bank e rupee app??
Click to expand...

It's taken 2-3 days working days to show that particular refund in your cards. In my case BOB took 3 days max. and IDFC took 1 day. So it's depends on bank. Because UPI are faster so it doesn't takes lots of time.
 
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Sahilhenzy said:
It's taken 2-3 days working days to show that particular refund in your cards. In my case BOB took 3 days max. and IDFC took 1 day. So it's depends on bank. Because UPI are faster so it doesn't takes lots of time.
Click to expand...
This is Credit on UPI and Credit on UPI is new. Many banks are not fully live yet.

some banks will take more than 5 days to 30 days, for exmpale - ICICI bank.

However, in future all Credit on UPI refund problem will get solved.
 
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Let’s take a look at its benefits.

  • The CBDC is a sovereign currency issued by the RBI in accordance with their monetary policy.
  • You can easily convert digital money into cash or commercial bank money.
  • As the digital rupee is a flexible legal tender, you can use it even if you don’t hold a bank account.
  • It cannot be destroyed by tearing apart, burning, or other physical damage.
  • Any other digital form of money cannot replace e-rupees.
  • Digital money is equal to paper currency. Hence, it will last as long as your paper money last.
  • Unlike cryptocurrency, the digital rupee is governed by the central authority. Thus, it has a low risk of being volatile and provides security to its user.
 
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What is the difference between the digital rupee and UPI?​

UPI is an interface where you can make transactions of your physical money. However, digital money is another form of paper currency which can be withdrawn from a bank account.

Can I shop using a digital rupee?​

Yes, you can use the retail digital rupee or CBDC-R to shop from a store or mall with the QR code that accepts digital currency. You can store the digital money in your digital wallet and spend it through online transactions.

Can I transfer digital money to family and friends?​

Digital money is your physical money in a digitalised form. So, you can make a transaction or send them to friends or family just as your physical currency. Both the person sending and accepting the digital money should have a digital wallet for the transaction.

Is digital rupee similar to cryptocurrency?​

No, digital rupee and cryptocurrency are different and are not linked to one another. Crypto is based on blockchain, while e-rupee is not. Cryptocurrency is a risk-driven market and its value changes depending on the market conditions while the value of digital rupee is fixed. Its value remains the same throughout, just like the value of physical cash.

What are the examples of digital rupee?​

  • Digital wallets
  • NEFT
  • IMPS

Which other countries have digital rupee?​

other countries that have their own digital currency(CBDC) are Nigeria, Bahamas, Russia, China etc. Whereas in countries like USA and Iran it can be launched soon
 
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What are the examples of digital rupee?​

  • Digital wallets
  • NEFT
  • IMPS
- NEFT & IMPS are means of transferring physical money in banks just like UPI.

As I understand, as of now, functionally for the end user, there is no difference between using digital rupee for making payment and making payment using UPI or IMPS.
The main difference seems that for e-rupee no bank acct is required whereas for UPI, underlying bank acct is generally required. But now even e-wallets like Amazon pay bal allow UPI, so that difference is also getting blurred.
Right now, it seems to more in the nature of having one more feather on the cap to claim for PR purposes .
 
Last edited:
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i also did multiple transactions not knowing the daily limit and 2 of them failed and there is no refund yet, it has been 9 days. whenever i try to raise a dispute in the sbi digital rupee app, it throws an error😭
 
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neo.puneet said:
i also did multiple transactions not knowing the daily limit and 2 of them failed and there is no refund yet, it has been 9 days. whenever i try to raise a dispute in the sbi digital rupee app, it throws an error😭
Click to expand...
I have same issue still its not solved but email them on cbdc@sbi.co.in with all screenshot and proofs.

yesterday i got reply,

Dear Sir,

Thanks for your mail. We are looking into this.

Regards,
Team SBI-CBDC
 
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