Security & Management issues in central bank digital currency (Digital Rupee) launched in India

Abstract

Central Bank Digital Currency (CBDC) is launched by the Reserve Bank of India with certain prestigious banks already offering these instruments through authorized financial institutions. Certain regulatory, operational, security and policy aspects are to be addressed before the CBDC becomes a popular means of transactions. A hope comes from UPI success but the instruments for CBDC to become a success require resolution of operational and practical issues. Nations across globe are in different stages of adoption of this technology. India has already launched it in a selective segment. A study is undertaken with the eminent bankers and the technology service providers regarding important aspects of security and management that they believe could pose as a challenge for usage of CBDC by common masses.