“Money in the Digital Age: A Comprehensive Analysis of UPI and Central Banking Digital Currency in India”

Registration ID: IJNRD_218908

Published ID: IJNRD2404584

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Dr.E.Vanajakshi

CBDC (Central Banking Digital Currency), UPI (Unified Payment Interface)

Since 2016, the Government of India has pushed for the widespread adoption of smartphone-based payment apps—advancement in technology digitalization of banking services, and change in the form of money. An example of this is the Unified Payments Interface (UPI) that is already in use and the emerging Central Banking Digital Currency (CBDC) which is under pilot study. The study has three basic goals: understanding the concepts of UPI and CBDC, analyzing their key aspects, and evaluating the associated components. The study uses a systematic review technique to synthesize current material, focusing on studies that analyze UPI's technological architecture, security aspects, and developmental advantages. Furthermore, it goes into historical monetary system movements to better understand the causes and potential benefits of CBDC adoption. The review analyses consumer resistance characteristics, such as privacy and security concerns, that influence UPI adoption and investigates the relationship between cash use and CBDC demand.

Published Paper   E-Certificate

Dr.E.Vanajakshi (April-2024). “Money in the Digital Age: A Comprehensive Analysis of UPI and Central Banking Digital Currency in India”. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 9(4), f691-f698. https://ijnrd.org/papers/IJNRD2404584.pdf

Volume 9 Issue 4, April-2024

Pages : f691-f698

Paper Reg. ID: IJNRD_218908

Published Paper Id: IJNRD2404584

Research Area: Engineering

Author Type: Indian Author

Country: -, -, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2404584.pdf

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Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

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