• Dr. Puneet Kumar

The rise of digital currencies such as Bitcoin, as well as the blockchain distribution technology, has sparked a lot of interest. These developments increase the chances of having a major impact on the financial system and perhaps the whole of the economy. This paper addresses the question of whether the central bank should extract digital currency that can be used by the general public. It starts by discussing potential reasons for the central bank to withdraw digital money. The effects of this new age digital currency are being tested, focusing on the central bank ledgers, monetary policy, banking system and financial stability, and payments. Finally, CBDC differs from the digital currency in a significant way considered.

Bank topics, Bank notes, Digital currencies, Financial services, Payment clearing and settlement services

"Central Bank Digital Currency: Motivations and Implications", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 11, page no.a475-a479, November-2021, Available :http://www.jetir.org/papers/JETIR2111061.pdf

"Central Bank Digital Currency: Motivations and Implications", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 11, page no. ppa475-a479, November-2021, Available at : http://www.jetir.org/papers/JETIR2111061.pdf