In the formula I(t) = Io [1 - e^(-t/τ)] for calculating current in an RL circuit, "e" represents the base of the natural logarithm, approximately equal to 2.71828. It is used in the context of exponential decay, specifically as exp(-t/τ), where "t" is time and "τ" is the time constant of the circuit. This exponential function describes how current builds up over time in an inductor. Understanding "e" is crucial for grasping the behavior of current in RL circuits. The discussion clarifies the mathematical role of "e" in this electrical context.