As of my knowledge cutoff in 2021, there was no widely accepted or official definition of an “Indian e-rupee” in the payments industry. However, there were discussions and initiatives around the development of a digital version of the Indian rupee that would be issued by the Reserve Bank of India (RBI), India’s central bank. This digital currency would be similar to other central bank digital currencies (CBDCs) being explored by several countries around the world.

The RBI had formed a high-level committee in 2017 to study the feasibility of a digital version of the Indian rupee. In January 2021, the RBI governor announced that the central bank was working on a phased implementation strategy for a CBDC, which would involve conducting pilot tests of the digital currency in a sandbox environment.

It is possible that once the digital rupee is launched, it could be referred to as the “Indian e-rupee” in the payments industry. However, until an official announcement is made, the term “Indian e-rupee” remains a colloquial term and not an official designation.