Published Paper Details:

Cryptocurrencies have become a game-changing class of digital assets in the fast-paced financial environment of today. This study investigates the fresh avenues provided by the popularisation of cryptocurrencies, which brings centrally regulated digital assets as a financial innovation for greater safety and centralised authority. Using secondary data gathered from academic publications, news reports, this paper analyzes how countries are navigating CBDC adoption. It also delves into the impact of India's digital rupee on the nation's economic landscape. The paper describes CBDC initiatives taken by different countries including the Eastern Caribbeans' Dcash, China's Digital Yuan, among others, highlighting their unique features and impacts. In the context of India, the combination of non-remunerative models, token-based technologies, and fixed denominations in the digital rupee shows a deliberate approach taken by CBDC to meet India's unique requirements. The findings shed light on the various motivations and approaches adopted by nations in the pursuit of CBDC implementation, ensuring a comprehensive understanding of global perspectives, emphasizing the profound significance of CBDCs in reshaping financial transactions, advancing financial inclusion, and bolstering economic stability.