Assessing the Impact of Digital Currency Adoption on Household Savings: A Nationwide Survey in India

Abstract

This research paper examines the impact of digital currency adoption on household savings in India through a comprehensive analysis of data collected from 650 households across various regions. Utilizing a structured survey and statistical analysis tools, the study explores the relationship between digital currency usage and savings behavior. Key findings reveal a positive correlation between digital currency adoption and higher savings rates, with significant regional and income-level variations. Higher financial literacy and trust in digital platforms were identified as crucial factors influencing adoption. The study highlights the potential of digital currencies to enhance financial inclusion and stability, suggesting targeted policies and incentives to promote their adoption. These insights are valuable for policymakers and financial institutions aiming to leverage digital currencies for economic growth and financial resilience.