Experience the all-new Kotak Netbanking
Simpler, smarter & more intuitive than ever before
Popular Products
Show More
Quick Help
Show More
Frequently Asked Questions
Show More
For Kotak Bank Customers
For Kotak811 Customers
Experience the all-new Kotak Netbanking Lite
Simpler, smarter & more intuitive than ever before. Now accessible on your mobile phone!
India’s CBDC also known as Digital Rupee (e₹) is a digital form of physical currency denomination issued by the Reserve Bank of India.
A token-based CBDC is a bearer instrument like bank notes in digital form, meaning whosoever holds the digital tokens at a given point in time would be presumed to own them. It is the preferred mode for Retail CBDC as it would be closer to physical cash.
Refer below transaction limits for the CBDC (Central Bank Digital Currency) – Kotak DIGITAL RUPEE (e₹)
| Type | Existing limits |
|---|---|
Maximum per transaction limit |
10000/- |
Maximum per day limit for transfer/redeem |
50000/- |
Credit limit (per transaction/per day) |
25000/- |
Debit - Per transaction Denomination Count Limit (Count of notes) |
250 notes |
Transaction limit in cooling period (first 24 hours) |
5000/- |
Maximum Wallet Holding Limit - Amount |
100000/- |
Maximum Wallet Holding Limit – Denomination Count (Count of notes) |
250 notes |
Transaction (Txn) Type |
Control type |
Existing limits* |
|---|---|---|
Load/ Inward Credit/ Collect Request |
Credit - Per Txn Amount Limit |
Rs 25,000# |
Credit - Per Txn Token Count Limit |
250 |
|
Credit - Per Day Amount Limit |
Rs 1,00,000** |
|
Redeem |
Debit - Per Txn Amount Limit |
Rs 25,000 |
Debit - Per Txn Token Count Limit |
250 |
|
Debit - Per Day Amount Limit |
NA |
|
CBDC / UPI Transfer |
Debit - Per Txn Amount Limit |
Rs 25,000 |
Debit - Per Txn Token Count Limit |
250 |
|
Overall |
Max Wallet Holding Limit - Amount |
Rs 1,00,000 |
Max Wallet Holding Limit – Token Count |
250 |
Note- If customer has exhausted the mentioned CBDC limits then he can transfer/redeem post 24 hours.
No. e₹ can be used to pay for goods & services and send money to friends and family in form of digital tokens only in India.
e₹ is a digital form of physical currency. Its usage is not only limited to payments but also serves the purpose of parallel currency and importantly, ‘store of value' as it represents a currency issued by the Reserve Bank of India. UPI or other modes of fund transfers like NEFT / RTGS / IMPS are forms of payment.
e₹ is not a cryptocurrency. It is a legal tender similar to physical currency available in digital form issued and regulated by the Reserve Bank of India. It holds unique advantages of central bank money viz. trust, safety and settlement finality.
Our customers can participate by downloading the app and start using it for daily payments. The Kotak e₹ app is available on Android as well as iOS devices
The user will have to download the Digital Rupee wallet application for accessing digital rupee. The e₹ wallet will enable users to conduct transactions in form of digital rupee tokens issued by RBI.
The Digital Rupee wallet application's primary features are listed below:
In the recoverable wallet type, the user will be able to recover his digital rupee wallet and the available wallet balance in the event of mobile device is change or loss.
The Digital Rupee wallet will be considered a full KYC wallet once the user has linked their Kotak bank account with the wallet.
Step 1 – Log in to Digital Rupee app, click the “Load” option
Step 2 – Enter e₹ amount or select the digital rupee denominations to be loaded
Step 3 – View the Digital Rupee selected and click on the “Load Digital Rupee” option
Step 4 - You can load digital rupee via “Linked Bank account”.
Step 5 - Select the “Linked Bank account” and click on “Load Digital Rupee”.
Step 6 -The linked bank account will be debited and digital rupee will be credited in the e₹ wallet.
Step 1 – Log in to Digital Rupee app, click the “Redeem” option
Step 2 – Select the digital rupee tokens to be redeemed
Step 3 – View the digital rupee selected and Click on “Redeem Digital Rupee”
Step 4 – Select the linked bank account and click on “Redeem Digital Rupee” to authorise the transaction by entering a wallet PIN.
Step 5 – The digital rupee will be debited from wallet account and the linked bank account will be credited with the redeemed amount.
Step 1 - Log in to Digital Rupee app, click the “Send” option
Step 2 – You can choose to pay/transfer digital rupee via Phone number or by scanning the e₹ QR code
Step 3 – You will need to verify the beneficiary name and enter the e₹ amount or select the digital rupee denominations available in your wallet account
Step 4 – Click on the “Send Digital Rupee” option and authorise transaction through wallet PIN
Step 5 – The digital rupee will be debited from wallet account and the beneficiary wallet account will be credited.
You can initiate a collect request for digital rupee via generating collect request QR from the Digital Rupee app and then sharing it to the remitter for transferring digital rupee via wallet app.
Once the transaction is successful, the digital rupee will be debited from your wallet account. You can also check the status of your transaction from the ‘Transaction History’ section of the Digital Rupee app.
You can view your transaction history by clicking the ‘Transaction History’ option in the Digital Rupee app. The list of the transactions will be displayed, you can choose the transaction for which you need to see the complete transaction details and its status.
You can raise a dispute from your Digital Rupee app. First, you need to check the status of the transaction from the ‘Transaction History’ section of the app, once you click on the transaction the transaction information page will be displayed where the ‘Raise Dispute’ option is provided for raising a dispute.
You can reset your six-digit wallet pin from the PIN setting options available in the Profile section > Click on PIN settings > Click on Forgot PIN > Enter the last six digits of active Kotak Bank Debit Card details associated with your wallet linked bank account and the card expiry date > Click on Next for authentication > Set new PIN.
Digital Rupee can be transferred instantly 24x7 which means it can be done on holidays as well and not dependent on banking hours.
There are no charges/fees a user has to pay for using Digital Rupee wallet or transacting in Digital Rupee.
Can I transfer the Digital Rupee directly to another person's bank account?
Yes, you can now transfer funds from your digital rupee wallet to any individual bank account by scanning the UPI QR code.
Yes, you can now transfer funds from your digital rupee wallet to any individual bank account by scanning the UPI QR code.
No. e₹ is a non-interest-bearing legal tender issued by the Reserve Bank of India.
The e₹ will have physical currency like fixed denominations, i.e. ₹2, ₹5, ₹10, ₹20, ₹50, ₹100, ₹200, ₹500 and even 1 Rupee & 50 paise coins.
Kotak Mahindra Bank has introduced a UPI interoperability feature on its Digital Rupee (e₹) application as part of the RBI's CBDC pilot project. This feature now enables the customer to make payments on the existing UPI QR codes available at merchants and also empowers merchants to accept payment via UPI from Digital Rupee users without any separate on-boarding process required for CBDC.
Help Center
Locate us
