Awareness Related to Digital Currencies And Central Bank Policies in India
Keywords:
Digital Rupee, public awareness, perception, adoption readiness, financial inclusion, digital payments, user behaviourAbstract
This study investigates public awareness, perception, and adoption readiness of Central Bank Digital Currency (CBDC), specifically the Digital Rupee, in India. As global financial systems evolve, India’s push toward a sovereign-backed digital currency represents a
transformative leap in monetary policy, financial inclusion, and digital infrastructure. Using a structured questionnaire distributed online, the research surveyed 177 respondents across various age groups, occupations, and regions. The findings reveal high awareness (85.9%) but limited conceptual clarity, especially among older demographics. Younger respondents (18–25 years) demonstrated greater understanding and optimism regarding CBDC’s usability and potential to enhance financial inclusion. However, confusion persists between CBDC and decentralised cryptocurrencies, underscoring the need for targeted education.
Statistical analysis using SPSS confirmed significant relationships between age and variables such as understanding, perception, and willingness to adopt CBDC via popular payment apps. Trust in the Reserve Bank of India’s technological readiness was moderate, while concerns about data privacy and disruption to traditional banking were notable. The study identifies a
critical research gap in user-centric analysis of CBDC adoption, emphasising behavioural, infrastructural, and trust-related barriers. The research concludes that successful CBDC implementation in India requires inclusive design, robust cybersecurity, and strategic public communication. Integration with existing digital platforms and collaboration with fintech stakeholders can accelerate adoption. Ultimately, the Digital Rupee’s success will depend not only on technological efficiency but
also on its resonance with the diverse socio-economic realities of Indian citizens.
References
Bansal, A., Pophalkar, S., & Vidani, C. (2023). A Review of Ed-Tech Sector in India. International Journal of Management Analytics (IJMA), 1(1), 63-84.
Bariya, M., Vidani, J. (2023). Analyzing Market Share: A Comparative Study of LG and Samsung Electronics in Ahmedabad. International Journal of Management and Commerce Innovations. Retrieved from
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