Monetary Policy Implications of Central Bank Digital Currency with Special Reference to India
Keywords:Central Bank Digital Currency, Monetary Policy, Interest-Bearing, Non-Interest Bearing, Zero Lower Bound, Financial Crisis
All over the world, the pilot projects to introduce central bank digital currency have been running with the initiative of Bank for International Settlement. India is one of them to issue CBDC very soon after passing the law. The merits of CBDC, the digital payment situation in India as well as banking literacy are the prime issues of this paper in discussing the several analytical frameworks of central bank digital currency monetary policy avenues as developed by several economists who are involved in the research of CBDC issuances, designs and applications some of which positive impacts are still unexplored.
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