I. J. of Business & Management Research
Research Article | 
Central Bank Digital Currency (CBDC): Unveiling Opportunities and Overcoming Challenges
Author(s) : Dr. Smruti Vakil1*,Dr. Lucky Mishra2
Publisher : FOREX Publication
Published : 30 March 2025
e-ISSN :2347-4696
Page(s) : 14-19
Abstract
Central Bank Digital Currencies (CBDCs) are emerging as a transformative innovation in global financial systems, offering opportunities for enhanced efficiency, financial inclusion, and monetary control. This study examines India’s Digital Rupee initiative, focusing on the relationship between demographic factors, public awareness, and usage of CBDCs. Using a descriptive research design and data from 317 respondents collected through non-probability convenience sampling, the study employs binomial and linear regression analyses to assess the influence of age, gender, education, and occupation on CBDC awareness and adoption. Findings reveal that age and occupation significantly affect awareness, while age and gender notably influence digital currency usage. Interestingly, higher education levels do not necessarily correspond with increased CBDC awareness. The analysis further establishes a strong positive association between awareness and willingness to use CBDCs, underscoring the critical role of targeted awareness campaigns and digital literacy initiatives. The study recommends tailored outreach for different demographic and occupational groups, inclusion-driven financial policies, and consideration of behavioral and psychological factors to foster broader adoption. These insights contribute to policy formulation and strategic planning for effective CBDC implementation in India and other emerging economies.
Keywords: Central Bank Digital Currency, Digital Rupee, Awareness, Demographics, Adoption, Financial Inclusion
Dr. Smruti Vakil1*, Associate Professor, Narayana Business School, Ahmedabad, Gujarat, India; Email: dr.smrutivakil@gmail.com
Dr. Lucky Mishra2, Assistant Professor, Associate Professor, Narayana Business School, Ahmedabad, Gujarat, India; Email: luckyeco@gmail.com
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Dr. Smruti Vakil and Dr. Lucky Mishra(2025), Central Bank Digital Currency (CBDC): Unveiling Opportunities and Overcoming Challenges . IJBMR 13(1), 14-19. DOI: 10.37391/IJBMR.130103.