“A Comparative Survey Study on “Physical Currency v/s Digital Currency” (With Special Reference to Alwar Region-Rajasthan)

Abstract

In India, physical currency (cash) is tangible, decentralized in possession, and anonymous, while digital currency—specifically the RBI's Central Bank Digital Currency (CBDC) or e₹—is an intangible, sovereign digital form of cash offering instant, secure, and traceable transactions. While UPI (Unified Payments Interface) uses existing bank accounts, the Digital Rupee behaves exactly like physical cash (no interest earned) but exists in a digital wallet.