Paper Contents
Abstract
India is a diverse country and a number of business transactions take place on a daily basis. A number of modes have been introduced to make the business payments easier like cards, Unified Payment System(UPI), cryptocurrency etc. Therefore the central bank of India, RBI has also introduced a new way of making the payments i.e. Central Bank Digital Currency(CBDC) on December 01,2022. It is also considered to be boosting confidence among the general public because it will be in the form of legal tender.It is now being issued in the same denominations as coins and paper money. It is being dispersed via financial intermediaries i.e. banks. So in this paper we are going to understand how the implementation of this currency will be done in a cash oriented economy where more preference is given to paper money and its potential benefits to the economy. It will also explain how it differs from the decentralized cryptocurrencies alongwith its role in creating a cash-lite, secure and efficient economy.
Copyright
Copyright © 2025 Jaspreet Kaur Hunjan. This is an open access article distributed under the Creative Commons Attribution License.
