Paper Details

Although Digital Currency is not new to the world, Reserve Bank of India has developed a Digital Currency that will replace current physical paper currency. Any new technology arrives, comes with its own features and limitations. RBI has already started pilot study of roll-out of CBDC in specific sectors of economy where the host and committee are constantly working on the impact of CBDC. This study is an exploratory study made on CBDC. Information is available in pieces as of now. There is seen information gap regarding the CBDC and Crypto and UPI. There is also a fear among people with respect to credibility, risk, tax implications, transactions, offline transactions, blocking etc. This article tries to answer the questions like how will this impact the individuals, businesses and economy as a whole? How private players ignite the implementation of CBDC, challenges and how will they compete with CBDC?

CBDC, Crypto, UPI, Payment-systems, financial-freedom etc.