Authors: Research Scholar Subramanyeswara Sarma V, Research Supervisor Dr. O. P. Gupta
Abstract: The Digital Rupee (e₹), the Central Bank Digital Currency (CBDC) issued by the Reserve Bank of India (RBI), represents a pivotal advancement in India's rapidly evolving digital financial ecosystem. Successful deployment of this new digital money requires customer awareness, acceptance, and a favourable impression. To comprehend customer knowledge, acceptability, and attitude about the Digital Rupee and to investigate the interrelations among these factors. A quantitative, descriptive, and analytical research approach was used, and primary data was collected from 200 respondents using a standardised questionnaire including demographic variables and statements assessed on a 5-point Likert scale. Descriptive data, including frequency and percentage analyses, were used to assess respondents' awareness, acceptability, and sentiment, while Pearson's Product Moment Correlation was utilised to test the offered hypotheses. The findings indicate a modest level of knowledge of the Digital Rupee among respondents, who express favourable opinions about its implementation for everyday transactions. Furthermore, the survey indicates favourable consumer opinion towards the prospective growth and acceptance of the Digital Rupee in India. The correlation analysis indicates a robust positive relationship between consumer awareness and consumer acceptance, as well as between consumer acceptance and consumer sentiment. This suggests that an increase in awareness of the Digital Rupee correlates with heightened consumer acceptance, resulting in favourable sentiment. The report advocates for comprehensive public awareness initiatives, including financial education programmes and digital outreach, to enhance consumer trust and facilitate the acceptance of the Digital Rupee as a secure and convenient digital payment instrument in India's shift towards a cashless economy.
