Abstract
The Central Bank of India introduced executing digital currency in India. There is important growth for Central Bank Digital Currency (CBDC) presently and several countries have adopted and completely the analysing phase of creating their own Central Bank Digital Currency (CBDCs). CBDC can improve our country’s digital economy and payment services and encourage financial inclusion. The present study aims to highlight the to analyses the DigitalPaymentsgrowth of CBDC, it’s important in the present economic prospects, and we also recognize the CBDC key challenges. As highlighted in the Risk of increased financial exclusion, Digital illiteracy, and Technical challenges. The study is descriptive in nature and it is completely based on secondary information and data acquired from the website of the NASSCOM and RBI and other published sources. This paper is an experiment to examine the Central Bank Digital currency India: prospects and challenges.
Keywords: Central Bank Digital Currency (CBDC), Reserve Bank of India (RBI), Digital Currency, Blockchain Technology, Crypto Currencies
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