MobiKwik’s stock surged 4% following the launch of its Central Bank Digital Currency (CBDC) wallet, making it the first fintech company in India to fully integrate the e-rupee (e₹). As of 10:53 AM, the shares were trading 4.58% higher at Rs 433.40.
In partnership with the Reserve Bank of India (RBI) and Yes Bank, MobiKwik’s e₹ wallet is now live for Android users, revolutionizing digital transactions in India.
The e₹ wallet enables seamless peer-to-peer (P2P) and peer-to-merchant (P2M) transactions, fully interoperable with the Unified Payments Interface (UPI). Users can transfer e₹ funds between wallets and regular bank accounts via UPI, with the added convenience of scanning and paying using UPI QR codes.
Key features of the e₹ wallet include instant activation for existing MobiKwik users with full KYC, while new users must complete video KYC. The wallet offers a daily transaction limit of ₹50,000, with a per-transaction limit of ₹10,000. Digital denominations ranging from 50 paise to ₹500 ensure flexibility for users.
MobiKwik shares opened at 423.55 and reached a high of 442.95, with a low of 417.10 during trading. The stock’s 52-week high stands at 698.30, while its 52-week low is 366.60, reflecting a significant range.
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