Central Banks / banks of a country will issue Digital Currency

There will be no physical form of this Digital Currency

Stored Digitally / Electronically only

Will be Stored in Digital Wallets not in bank accounts.

Transactions will be made between Wallets and Wallets and not between bank accounts

Like physical Notes & Coins, Digital Currency will also not be traced by banks

KYC needed for Transactions above certain limits in Digital Currency

In India, for transactions more than Rs. 50000/- PAN is mandatory document for KYC purpose

India's Central Bank will give guarantee for its Digital Currency CBDC

Know more about Digital Currencies