Hello @Lojith_Vinsuka and welcome to the forum ![]()
Set Eraser mode and Toggle eraser preset are two separate things and they should not have the same keyboard shortcut.
Set eraser mode forces the currently used brush preset to paint in Eraser blending mode.
Toggle eraser preset makes krita believe that the user is using the āeraser endā of a stylus that has two ends, a āpainting tipā and an āeraser tipā.
This can be useful for people who do not have a stylus with an āeraser tipā.
Here is a topic that discusses this:
Toggle Eraser Preset - How do I choose what's an eraser?