Technological advancements have enabled the creation of a new form of money, the CBDC. CBDC is the digital version of a country’s fiat currency, issued and backed by the RBI. India has a well-developed digital payments ecosystem, but CBDC requires significant infrastructure upgrades to ensure secure and efficient digital transactions. SPJIMR’s Prof. Varun Yadav discusses India’s readiness for Central Bank Digital Currency (CBDC) and their impact on the digital economy, securities and contingencies, and technology and design choices.
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