Authors: Assistant Professor Ms Ramya B, Mr Balaji M, Sanjana S
Abstract: A major innovation in the global financial system, cryptocurrency is posing a threat to the established banking system. Due to the development of fintech platforms, digital awareness, and technological advancements, the use of cryptocurrencies like Ethereum and Bitcoin has grown significantly in India. This study looks at bitcoin adoption and how it affects India's conventional banking sector. It focuses on the ways in which cryptocurrencies affect banking services such financial intermediation, payments, remittances, and client trust. The study's foundation is secondary data gathered from government publications, Reserve Bank of India bulletins, and academic journals. Trends and implications are assessed using descriptive analysis. The results suggest that while cryptocurrencies encourage banks to innovate through digital banking and blockchain adoption, they also present challenges to traditional banks by decreasing transaction reliance. The study comes to the conclusion that risk management and sustainable financial development depend on a balanced regulatory environment.
