Digital currency: an empirical study analyzing its effectiveness in the banking sector

Since digital currencies have become more and more popular throughout the past ten years, the majority of banks have given serious consideration to developing their digital currency that may address the drawbacks of existing digital currencies while accelerating the transition to a society without cash. The research is being done to comprehend the significance of a digital currency and its impact on the Indian banking industry. The research utilized a quantitative research approach to accomplish this. The data were collected from the senior executives of the selected banks in India. Utilizing the data, validity, descriptive, and Structural model approaches were performed. The results of the study conclude that funding structure and liquidity portfolio, customer relationship, product pricing, and competitive positioning are sustainably related to the digital currency. The results can be employed by government agencies, FinTech firms, and other organizations to improve how users are seen and create tactics that will increase users' intentions for employing digital currency.