A STUDY ON ATTITUDE AND PERCEPTION TOWARDS DIGITAL RUPEE (e₹)

Abstract

The evolution of money is quite fascinating, from ancient trend of bartering to the metal coins & finally the paper money. Irrespective of its form, money in an economy has three primary functions – Medium of exchange, a unit of account and store of value. Reserve Bank of India (RBI) is the central bank of our nation & currency management is one of the key function performed RBI. This involves design, production & supply of notes in the economy. Paper currency (notes) are basically liability of the RBI & an asset of the public having its possession The digital rupee is a digital version of the Indian rupee that provides users with trust, security, and finality in settlement. Due to these features, the users are increasing the number of users and merchants by 50,000 and 5,000, respectively. Although the number of digital e-rupees users in India is high, the key issue is whether Indians are aware of digital e-rupees. Thus, the objectives of the study are to identify the attitude towards digital currency in India. The second is to examine the top service providers of digital currency in India. The third is to determine how the demographic profile is associated with the attitude towards digital currency. The measurement of these objectives is done with quantitative research methods. The population of the study is the people of Delhi. Convenience sampling will be used to get the information of the people of E-rupee in India. The sample size considered for the study is 139. With these samples, the assessment of the responses is based on the frequency distribution and chi-square. Digital e-rupee users are females, graduates, and employees. Many have described the e-rupee as a new digital currency launched by the RBI. Digital e-rupee is used for bill payments. This offers benefits to health care, education, and agriculture. Increased security and privacy increase the number of users in Delhi. The benefits of digital currency are that it allows for faster and more secure transactions, eliminates the need for physical currency, and helps to prevent fraud and counterfeiting. Thus, it can be concluded that easing the processing system of digital rupies increases the usage of users in Delhi.