IDFC FIRST Bank

Central Bank Digital Currency (CBDC)

CBDC, or Central Bank Digital Currency, is a legal tender issued by the Reserve Bank of India. Also called the “digital rupee” or e₹, it will offer features of physical cash like trust, safety and settlement finality with atomicity (i.e. immediate settlement of transactions) in digital mode.

e₹ represents a direct claim on the central bank. It can be used to carry out transactions or store value digitally, similar to the manner in which currency notes can be used in physical form.

Conversion Rates & Denominations

The conversion rate will be 1 Digital Rupee = 1 Rupee and it will have the denominations as the physical Rupee i.e. ₹2, ₹10, ₹20, ₹50, ₹100 , ₹500 and even ₹1, 50 paise and 1 paise coins are also available to perform fraction transaction.

The e₹ will be held in an e₹ wallet issued by banks like IDFC FIRST Bank.

As a bank that’s constantly at the forefront of introducing customer friendly features such as Monthly Interest Credits on Savings Account, ‘never expiring reward points’ on credit cards, lifetime free credit cards etc., we are happy to be a part of this Pilot Initiative of RBI in bringing the digital rupee revolution in India.

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How to use IDFC FIRST Digital Rupee (e₹)

How to Register Different Types of Wallets How to Load Wallet How to Pay Digital Rupee (Send) How to Collect Digital Rupee (Receive) How to Redeem Digital Rupee Programmable CBDC (PCBDC) Autoload Profile Section

Step-by-Step guide to Register for CBDC (e₹)

Download the IDFC FIRST Digital Rupee app from Play Store or App Store
Verify your mobile number linked to your bank account
Set your app PIN and complete basic details
Link your bank account using your debit card
Your Digital Rupee wallet is ready to use

Choose the wallet that fits your needs

Full KYC Wallet:
For IDFC FIRST Bank savings and current account customers who complete full verification using their debit card. Offers full access to all Digital Rupee features with no major restrictions.
Minimum KYC Wallet:
A limited-purpose wallet created using Aadhaar authentication. Designed for specific use cases with restricted functionality.
DBT Wallet:
Available for users enrolled in government DBT schemes via Aadhaar verification. Used to receive and utilize funds for designated purposes.
On-the-Go Wallet:
Enables users to receive Digital Rupee even without prior registration. Comes with limited access and a maximum balance of ₹500.

Add money to your Digital Rupee wallet

Tap on Load and enter the amount or select denominations
Choose your preferred method:
- Linked IDFC FIRST Bank account
- UPI app
Authenticate using Wallet PIN or UPI PIN
Amount is added instantly to your wallet

Send money in seconds

Tap on Send
Choose to pay via mobile number or QR code
Enter amount or select denominations
Confirm receiver details
Complete payment using your Wallet PIN

Receive payments easily

Generate your dynamic QR code
Share it via WhatsApp or other apps
Sender scans and pays using any CBDC app
Amount is credited instantly to your wallet

Transfer money back to your bank account

Tap on Redeem
Enter the amount or select denominations
Choose your linked bank account
Confirm using Wallet PIN
Amount is credited to your bank account instantly

Smart money for specific use

Programmable CBDC (PCBDC) allows Digital Rupee to be used only for specific use cases, improving control and transparency. It is currently used by governments and the Reserve Bank of India for select DBT schemes.

Types of PCBDC:

Sponsor Level:
Government or corporates can issue Digital Rupee for specific uses like DBT or employee benefits
User Level:
Full KYC users can send Digital Rupee with defined conditions to other CBDC wallet holders

Never run out of balance

Autoload ensures your Digital Rupee wallet always has enough balance for transactions.

Automatically adds money from your linked IDFC FIRST Bank account
Triggered when your wallet balance is low during a transaction
Helps you complete payments without interruptions

Manage your wallet and settings

Access the Profile section to view your wallet details, manage settings, and get support.

What you can do:

About Wallet:
View your masked wallet ID and linked bank account details
Transaction History:
Check all your transactions (no separate statement available)
PIN Settings:
Reset your wallet PIN securely using your linked debit card
Deregister Wallet:
Close your wallet and redeem remaining balance (required if you change your mobile number)
Terms & Conditions:
View all CBDC-related terms and policies

Frequently Asked Questions

What is CreditPro Balance Transfer?

CreditPro Balance Transfer helps a customer to transfer other bank credit card dues to CreditPro and enjoy interest free period up to 105 days on every Balance Transfer.

Can I do any Online, Point of Sale or Cash transactions on CreditPro Balance Transfer?

The joining fee of ₹2,500 (+GST) will be levied instantly on card generation. You can pay for the fee before or after statement generation.

What are the benefits of activating CreditPro?

On payment of joining fee, you will receive cashback of ₹400 for each of any 5 transactions worth ₹400 or more, completed using your credit card within 60 days of card generation. The joining benefit will be credited in the next statement. Cash withdrawal transactions, fees and charges will not be eligible for the joining benefit.

Can a customer transfer dues to CreditPro Balance Transfer from Multiple Cards?

If you are applying for your first IDFC FIRST Bank unsecured credit card, you will get a credit limit as per our internal policies. If you already have an IDFC FIRST Bank unsecured credit card, your new credit card will also have the same credit limit. The credit limit, however, will be shared across all unsecured credit cards.

What does my credit score need to be?

Yes. You will earn:

10 reward points for incremental spends above ₹20,000 in a statement cycle and on your birthday.
5 reward points on spends up to ₹20,000 in a statement cycle.
3 reward points on Education, Wallet Load, Government, Rent and Property Management/Purchase transactions. 1 reward point on utilities and insurance transactions. Spends in these categories will not be considered for the 10X monthly milestone.
Reward points will not be given on spends converted to EMI, Cash Withdrawal, Fuel, Fee and Charges.
1 reward point is given for every ₹150 spent in a transaction. Value of 1 reward point is ₹0.25.

Why should you apply for a Credit Card at IDFC FIRST Bank?

Education, Wallet Load, Government, Rent and Property Management/Purchase transactions, Utilities, Insurance, EMI, Cash Withdrawal, Fuel, Fee and Charges. Only those transactions which are settled by the merchant before the statement generation will be considered. If a transaction is settled after the statement is generated, it will not accrue 10X rewards. Rewards for such transactions will be credited after the next statement generation.

What is a Credit Card limit?

The Ashva Credit Card provides the benefit of never-expiring reward points. The reward points remain valid till the credit card remains active.

What should I do when my Credit Card is lost?

The Ashva Credit Card comes loaded with benefits like discounts on 300+ brands, movie tickets, complimentary airport lounge access, etc. The full list of benefits is mentioned above. For brand offers, you can visit the offers website

What are the things you must know before applying for a credit card?

The Ashva Credit Card offers one of the lowest forex markups in the industry at just 1%. Spend seamlessly while travelling abroad as well as on international purchases made from India.

What are the dos and don’ts while using a credit card?

Yes, Ashva Credit Card offers:

4 complimentary visits per quarter to lounges and spas at airport terminals in India.
2 complimentary visits per quarter to lounges at foreign airports

The lounge benefit can be availed in the next calendar month on spending ₹20,000 or more in the current calendar month.

Use your credit card to access Indian airport lounges and the Dreamfolks Card to access spas and lounges at Indian and overseas airport terminals.

You can also book airport lounge and spa by clicking here.

I already have a credit card. Can I apply for another one?

You can activate your 1 Lounge/Spa benefit for the next calendar month by spending ₹20,000 or more in the current calendar month.
E.g. Meet spend criteria between 1st to 31st March to activate the benefit in April. To know how to book an airport lounge online, click here.

Can I avail of golf benefits on the Ashva Credit Card?

Yes. You can avail up to 2 rounds/lessons in a month. Each round/lesson is unlocked for every ₹20,000 spent in the previous statement cycle.

Can I use my credit card to withdraw cash at an ATM?

Yes, you can! All ATM cash withdrawals are interest-free for up to 48 days – in India or abroad. Cash withdrawal from ATMs outside India will attract a forex markup fee of 1% (+GST). Please keep in mind, however, that a Cash Advance Fee of ₹199/- + GST is applicable per transaction, irrespective of your location or the withdrawal amount. The maximum cash withdrawal limit per transaction is ₹10,000.

Will I be asked for my Credit Card PIN at every POS terminal, be it domestic or international?

For transactions in India, yes, you will be asked for a PIN for completing the transactions. However, outside India, you will be asked for the PIN only if the POS terminal is enabled for PIN authentication.

What is the annual milestone on the credit card?

On spending ₹8,00,000 or more in a card anniversary year, you will get 7,500 reward points. The reward points will be credited on payment of annual fee for the next year. Transactions on primary, add-on and associated FIRST Digital (UPI) Credit Card will be considered towards the milestone, including EMI transactions. Cash withdrawal, fee charges and EMI amortization will be excluded from the benefit.

When will the reward points be credited?

The reward points will get credited upon statement generation.

What is the movie offer on the Ashva Credit Card?

Using the Ashva Credit Card, you get buy-one-get-one movie offer twice a month via Paytm Movies. You can get a discount of up to ₹400 on the second ticket.

What is the annual milestone on the credit card?

When will the reward points be credited?

The reward points will get credited upon statement generation.

What is the movie offer on the Ashva Credit Card?

Using the Ashva Credit Card, you get buy-one-get-one movie offer twice a month via Paytm Movies. You can get a discount of up to ₹400 on the second ticket.

What is the annual milestone on the credit card?

When will the reward points be credited?

The reward points will get credited upon statement generation.

What is the movie offer on the Ashva Credit Card?

Using the Ashva Credit Card, you get buy-one-get-one movie offer twice a month via Paytm Movies. You can get a discount of up to ₹400 on the second ticket.

What is the annual milestone on the credit card?

When will the reward points be credited?

The reward points will get credited upon statement generation.

What is the movie offer on the Ashva Credit Card?

Using the Ashva Credit Card, you get buy-one-get-one movie offer twice a month via Paytm Movies. You can get a discount of up to ₹400 on the second ticket.

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rupee - India’s CBDC