Union Bank of India has introduced accessibility features in its Central Bank Digital Currency (CBDC) application, widely known as the Digital Rupee (e₹). As the first PSB to offer such inclusive functionality, Union Bank reaffirms its commitment to fostering financial inclusion and innovation. The Digital Rupee, issued and regulated by the Reserve Bank of India, is a digital form of fiat currency that enables wallet-based transactions, inter-operability with UPI QR codes, auto-load functionality, and real-time settlement.
The newly added accessibility features extend the reach of this revolutionary product to individuals with different abilities, enhancing user-friendliness and adoption. In order to be more accessible and empower visually challenged individuals, this feature will help them to download and navigate the CBDC wallet seamlessly. Key enhancements include:
1.Voice-Over Compatibility: Informative screen reading with properly labelled application elements ensures an intuitive experience.
2.Gesture-Based Navigation: Simple gestures like swipe-to-navigate and double-tap-to-select enable efficient interaction with the app, including currency selection.
3.Platform Compatibility: Fully functional on both iOS and Android devices.
Re-instating this, A. Manimekhalai, MD & CEO, said: “Union Bank of India is committed to advancing financial inclusion and innovation. By introducing accessibility features in our Digital Rupee application, we are breaking barriers and ensuring that the benefits of cutting-edge technology are available to all.”
With Union Bank at the forefront of digital accessibility, it enables a broader customer base including differently abled individuals to participate in the digital economy. The CBDC will reduce costs associated with printing, distributing, and managing physical currency and encourages a shift from cash-based to secure and efficient digital transactions, supporting the government’s vision of a less-cash economy.