EXPLORING THE VIABILITY OF CENTRAL BANK DIGITAL CURRENCIES

Abstract

A pilot project for the Central Bank Digital Currency (CBDC) been announced by the Reserve Bank of India (RBI) in the end of the year 2022. It been a digital version of the rupee called the retail rupee (e-R). Additionally, CBDC is being looked upon by central banks worldwide. This essay assesses the scientific literature and major central banks' studies on CBDC. By introducing, synthesizing, and discussing diverse study fragments, the emphasis here is on offering a holistic understanding of the subject. A systematic literature review is used to find pertinent studies and publications for this purpose, which are then categorized into several categories. The reasons and justifications for issuing a CBDC are explained.