ADVANTAGES AND DISADVANTAGES OF DIGITAL CURRENCY IN INDIA-A STUDY WITH SPECIAL REFERENCE TO RUPEE

Abstract

The Modi government introduced a new digital currency called the "Rupee" for the year 2022-2023. This digital currency is expected to give a significant boost to the digital economy. The Digital Economy, also known as the New Economy, utilizes digital computing technologies in economic activities. The introduction of digital currency is anticipated to enhance the efficiency and reduce costs associated with currency management systems. Furthermore, the adoption of digital currency can streamline transactions, making them more efficient and cost-effective. Overall, the launch of the Rupee digital currency is poised to accelerate the growth of the digital economy and modernize currency management systems.