Published Paper Details:

No country is immune to corruption. India has also fallen prey to this insidious plague which has penetrated deep down the society since long. Although we don't have a panacea to treat this disease but a good governance can certainly be helpful in checking the widespread corruption in many ways. In this respect, we can quote the famous remark of the former Prime Minister of India, Rajiv Gandhi that "only 15 paisa of every rupee meant for welfare of downtrodden reaches the intended beneficiary." Since then, almost 40 decades have passed the government has been taking several steps to check the malaise of corruption from every corner of the economy. Money has manifested itself in many ways in the last few decades to develop the financial environment for the economy. From paper currency to plastic money and now to digital form of money. The govt has even resorted to demonetization from time to time to prevent the unscrupulous financial activities and the acts of money laundering as a bona fide attempt to curb the financial corruption in the economic system. The paper aims to explore and gain a detailed insight about RBI's digital Rupee (eINR-R) by looking into journals, research papers and reports published by central monetary authority (RBI) and other financial and international institutions specifically focusing on digitally fighting back the corruption in the Indian financial system. The research also seeks to analyze the implications of e-Rupee (eINR-R) on tapping the unbanked population of India. The (eINR-R) will be a digital form of currency or commonly known as digital token acting as a legal tender. It is a cashless and contactless mode of digital payment, through which the beneficiaries will get the direct benefits of govt's several welfare schemes in their mobile phones through a QR code or SMS string. This paper would throw some light on the efficacy of this digital payment mode to insulate the entire governance system from the malaise of corruption.