Critical Legal Aspect of Central Bank Digital Currency from An Indian Perspective
Pallavi Minz
Research Scholar, Hemvati Nandan Bahuguna Garhwal University, Uttarakhand, India.
10.46679/9789349926141ch09
This chapter is a part of: Law and Economics in India: Market Governance, Digital Change, and Inclusive Growth from India
ISBN (Ebook): 978-93-49926-14-1
ISBN (Hardcover Print): 978-93-49926-73-8
ISBN (Softcover Print): 978-93-49926-54-7
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Published: April 15, 2026
Abstract
Advancements in digital technology have enabled innovation in many sectors, including finance. One of the current examples of digital advancement is digital currency. As the name suggests, it is a currency in the form of electronic or virtual currency. Digital currencies come in various types, including Bitcoin, cryptocurrencies, and the Central Bank Digital Currencies. Several nations have authorized and implemented central bank digital currency. This paper aims to explore the rationale behind the adoption of Central Bank Digital Currency (CBDC), assess its legality within the context of the monetary policy framework, and examine its role in national campaigns and with the advanced acceptance of this technology in the financial sector by the RBI, there has to be an examination of the challenges and opportunities that would surface in the near future. This research paper contemplates the need to create a sturdy and exhaustive regulatory legal framework for digital currency in India.
Keywords: Central Bank Digital Currency, Reserve Bank of India, Digital Currency, Blockchain, Monetary Sovereignty.
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