Why CBDC (e₹)?

Improving the payment-system performance is refered as the most important motivation for the Central Banks in the World to issue Central Bank Digital Currency.Central Banks of the Advanced and the Emerging Market (like India) Economies, has surveyed for International Settlements, and ranked the payments safety and also domestic payments efficacy as the first motivating factors for the potentially viable for issuing a Wholesale or Retail Central Bank Digital Currency.In addition to this, the Central Banks in the Emerging Markets and the Developing Economies expressed that they have considered Central Bank Digital Currency as a Potential Instrument to Promote the ‘Financial Inclusion’ in the Economy. The survey also seems to indicate that the Motivations to the Work on Retail Central Bank Digital Currency, which can act as a ‘Substitute or a Complement to the Physical Cash’, are generally the stronger in the Emerging Markets and also in the Developing Economies than in Central Banks of the Advanced Economies.Abbreviations: CBDC=Central Bank Digital Currency.DLT=Distributed Ledger Technology.NPS=National Payment System.PSP=Payment Service Provider.API=Application Programming Interfaces.