Asian Journal of Management and Commerce
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P-ISSN: 2708-4515, E-ISSN: 2708-4523

2022, Vol. 3, Issue 2, Part C

Impact of Central Bank Digital Currencies (CBDCs) and digitalization on financial market in India

Author(s): Dr. Kaushal Jay

Abstract: In the recent years the financial sectors rapidly grow by various innovations with advancement of technologies in the financial field. In the financial market these new technologies directly effect on consumers, investors, traders and other stake holders. Its regulations i.e. implementation or application of financial technologies cause great change in stakeholder's financial and economic activities. The central Bank (RBI) had recommended the amendment in RBI Act 1934 to broaden the ‘banknote’ definition and include money in electronic format. See-25 of RBI Act 1934 Provides the forms of bonk notes.RBI has been examining use cases and Working out a phased implementation strategy for the introduction of CBDCs, and for analysis about digital disruption. I analyses in this article, how ongoing digitalization of economy is changing the financial behavior of stakeholders in order to pay, investment decisions and so on. Financial instruments were traditionally traded when stock brokers and traders met at trading floors and executed transactions. At present scenario is being changed after digitalization. The Journey of financial development is being fast after digital transformation in the field of financial transactions. In India Bombay Stock exchange (BSE) and National Stock exchange (NSE) plays a major role in trading of financial securities like equity, bonds, debentures and other financial assets. The second considerable point about cyber security of E-currency transaction i.e. CBDCs which is future of and Finance.

Pages: 183-187 | Views: 688 | Downloads: 238

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Asian Journal of Management and Commerce
How to cite this article:
Dr. Kaushal Jay. Impact of Central Bank Digital Currencies (CBDCs) and digitalization on financial market in India. Asian J Manage Commerce 2022;3(2):183-187.
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