Central bank digital currency in India: the case for a digital rupee

Peterson Ozili

MPRA Paper from University Library of Munich, Germany

Abstract: This article explores the benefits and issues surrounding the digital Rupee, also known as the eRupee or the central bank digital currency in India. The study found that Indian people who were interested in ‘cryptocurrency’ information were also interested in ‘central bank digital currency’ information. The study also showed that the introduction of CBDC has potential benefits such as reduced dependency on cash, higher seigniorage due to lower transaction costs and reduced settlement risk. However, the India CBDC has associated risks that need to be carefully evaluated against the potential benefits. The introduction of a digital rupee or CBDC in India will require legal and regulatory changes to make the phased CBDC implementation possible.

Keywords: India; CBDC; cryptocurrency; digital rupee; central bank digital currency; blockchain; distributed ledger technology. CBDC design; financial stability; monetary policy. (search for similar items in EconPapers)
JEL-codes: E40 E42 E52 E58 (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-ban, nep-mon and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/118801/1/MPRA_paper_118801.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:118801

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().