Authors: Research Scholar Subramanyeswara Sarma V, Dr. Khusboo Sharma
Abstract: The Digital Rupee (e₹), the Central Bank Digital Currency (CBDC) issued by the Reserve Bank of India (RBI), represents a significant advancement in India's digital financial ecosystem. Understanding public perception and acceptance of the Digital Rupee is essential for its effective deployment and broad adoption. This research empirically examines public perception of the Digital Rupee (e₹) in India, focusing on awareness, comprehension, convenience, security, faith in the RBI, desire to use the Digital Rupee, and the overall perceptions of respondents. The research was quantitative, descriptive, and empirical. The participants were chosen by a convenience sample method, and main data was gathered via a structured questionnaire from 210 individuals. The gathered data were examined using descriptive statistics, including percentage and frequency analyses, as well as inferential statistics, including the One-Sample t-test and Independent Samples t-test. The findings reveal that the majority of participants had a favourable disposition towards the Digital Rupee, recognising its potential to enhance digital transactions and reduce dependence on physical currency. "The respondents exhibited considerable confidence in the Reserve Bank of India's capacity to proficiently oversee the Digital Rupee.'' The hypothesis testing demonstrated that public opinion of the Digital Rupee is statistically significant, suggesting that knowledge positively influences respondents' readiness to embrace it. In conclusion, although public awareness and acceptance of the Digital Rupee are encouraging, continued initiatives to enhance awareness, financial literacy, and advancements in digital infrastructure and cybersecurity will be crucial to cultivate public trust and promote extensive adoption of the Digital Rupee in India.
