A Bibliometric Exploration of Central Bank Digital Currency and India's Economic Evolution

Abstract

Purpose – The study aims to conduct a bibliometric analysis of the existing academic literature on Central Bank Digital Currency (CBDC) and its impact on the Indian economy. The review highlights key research themes, influential contributions, and future research directions.
Findings – The findings indicate a significant surge in CBDC research, particularly post-2020, driven by India's digital rupee initiatives. Key research themes include monetary policy implications, financial inclusion, payment system efficiency, and regulatory challenges. The bibliometric analysis identifies leading authors, institutions, and journals contributing to the discourse, with a growing international collaboration trend. However, research gaps remain in empirical studies assessing India's CBDC pilot, its environmental impact, and cross-country comparative analyses.
Practical implications – The review offers valuable insights for policymakers, financial institutions, and researchers by identifying research trends and thematic gaps, thereby guiding future investigations and policy decisions regarding CBDC implementation in India. Originality – This study contributes to the literature by systematically mapping the intellectual landscape of CBDC research in the Indian context. The findings help bridge knowledge gaps and inform future policy frameworks for digital currency adoption.