"e₹" Central Bank Digital Currency

Abstract

Central Bank Digital Currency (CBDC) is anInnovative Step towards Modernizing the ‘Financial Landscape’ of the Country. CBDC-Digital Rupee (e₹) is a digital form of ‘Fiat Currency’ of the Country. The CBDC is issued and regulated by the Reserve Bank of India, same is guaranteed by the Government of India. By leveraging the “Blockchain Technology”, e₹ enables for continuous and immediate transactions, removing the intermediaries and reducing settlement times. e₹ ensures Strong Security measures, protecting the users from fraud and ensuring the integrity of money transactions. As an available Digital Currency, e₹ Opens the Doors to achieve the ‘Total Financial Inclusion of the Country’, making the Banking Services available to a ‘broader population’ those who are living in ‘Rural Areas’, including those population without ‘Old-style Bank Accounts’.