E-Currency is the short form for Electronic Currency. Not very popular in India due to various RBI restrictions but still used in a limited scale .
The most popular among E-Currencies which are used in India is PayPal . Mostly it is used by the Freelancers who work for various Freelance websites and get paid in US Dollars into their PayPal account . They can attach PayPal account to their Bank Account and then transfer the US Dollars to their Bank A/c which are transferred as INR .
Some other prominent E-Currencies are Liberty Reserve , Payza [formerly Alert Pay], Liqpay , Solid Trust Pay , Perfect Money , but they are not very much used by Indians as they don't have such privileges like PayPal . Also E-Currencies are considered as Virtual money mostly so it sometimes is very risky to deal in less prominent E-Currencies.
For understanding more about PayPal you can visit the
www.paypal.com .