Abstract
Times are highly unpredictable and a developing nation like India needs to keep evolving while moving forward with the world. It needs a resilient and forward looking payment mechanism to support its economy. Being a nation that faces vast inequalities in terms of income, education and social status, this is definitely not going to be a cake walk. It carefully needs to consider the upsides and the downsides of going ahead with the idea of changing its payment landcape forever, with the use of digital currency. India has never lagged behind the other nations when it comes to advancements in development and technology. Bit by bit, we are marching towards a more developed and digital economy everyday. This paper carefully considers and examines all sides to the coin, when considering the idea of a digital currency for India.
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