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True. For the use case you are mentioning, the transaction can happen without the need for commercial bank accounts. I agree. 

Dear Mr. Swaminathan, 

Thank you for your feedback. I agree with your first point regarding cap on insurance, which I missed in my post. Regarding the 2nd point on the need for bank-linked account, currently a person can buy digital rupees from the four banks that the RBI has licensed. Therefore, to begin with the use of the digital currency, an account with those banks is required.

One of the following two methods can be used to load money into the e-Rupee wallet: 

• Fund transfer from your linked account in the select bank  
• Fund transfer from various UPI apps 

This implies bank acconts will be required, since.both alternatives are connected to having an account in the select banks.