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Prospects of Digital Currency in India- A Way Forward

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The era of information and communication technologies has created many opportunities in every aspect. The field that has been benefitted the most from these recent developments in the financial and business sector. The scope and speed of evolution in technology, customer perception, and wide acceptance indicate that these technologies and disruptions will transform the finance and banking sector as we know it, providing both opportunities and challenges to financial institutions. Systems that have traditionally been used for savings, investments are not well suited given the scale and agility required for the digital age. Keeping in mind this array, financial institutions are responding with new digitization and innovation initiatives, using analytics, cloud technologies, and other new alternatives to respond to customer expectations. In a country like India, with a large economy and a despotic regime, the country shows decent economic growth even after having a complex system of arbitrary rules and regulations. Amidst all the growth, there is a huge scope of transforming the investment and lending patterns, with the help of technologies becoming more customer- centric and efficient. So, the technologies like blockchain are looking to drive innovation across various industries in India. In the era of blockchain, cryptocurrencies are the main part of it. They are said to be the most disruptive technologies in this area. This paper is an attempt to find the future of digital currency in India from the international experience.


Viraja Bhat, Jeevan Nagarkar, Ayushi Singh. Prospects of Digital Currency in India- A Way Forward. Cardiometry; Issue 24; November 2022; p.413-424; DOI: 10.18137/cardiometry.2022.24.413424; Available from:


Digital Currency,  RBI,  India,  Blockchain,  Cryptography
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