Functions of Money — Mains Questions

Critically analyze how the four classical functions of money are impacted by rapid technological advancements and the advent of digital currencies in India. (250 words, 15 marks)

Examine the role of the Reserve Bank of India (RBI) in ensuring the stability and effectiveness of money's functions in the Indian economy. (250 words, 15 marks)

Demonetization in 2016 significantly impacted the functions of money in India. Discuss the short-term disruptions and long-term implications, particularly concerning the shift towards a less-cash economy. (250 words, 15 marks)