Digital rupee will be legal tender, can be used to purchase non-digital assets: Finance Secretary

Finance Secretary TV Somanathan on February 2 informed that digital rupee will be legal tender and can be used to purchase non-digital assets. Adding on it, he further said cryptocurrencies like Bitcoin or Ethereum will never become a legal tender. Speaking to ANI, Finance Secretary said, “Digital rupee will be backed by RBI which will never default. Money will be of RBI but the nature will be digital. The digital rupee issued by RBI will be the legal tender. We can purchase non-digital assets with the digital rupee like we purchase an ice cream or other things using our wallet or payments through UPI platform.”