 "CBDC versus the rest: Can RBI's digital currency replace physical cash? (1)")
See Also
faq-on-cbdc - Personal BankingDigital Rupee - Central Bank Digital Currency (CBDC)Know Importance of safe banking - ICICI BlogThe Future of Currency: How to Use CBDC in India | NTT DATA Payment ServicesPremium
Illustration: Binay Sinha
Despite the demonetisation of 2016 and the rise in digital transactions that followed, the economy’s dependence on cash has remained as high as ever. So when the Reserve Bank of India (RBI) introduced a pilot project of its version of digital cash — called the central bank digital currency (CBDC) — on December 1, many questions were asked.
Can the CBDC replace physical cash, even partially? Can it match cash in terms of convenience? Are CBDC transactions truly anonymous? Given the existence of many digital mediums including the popular United Payments Interface (UPI), what was the need for introducing another
