[16] A STUDY EVALUATING THE ROLE OF DIGITAL FINANCIAL LITERACY AMONG THE INDIVIDUALS

ARTICLE INFO- Date of Submission: Aug 23, 2024, Revised: Aug 31, 2024, Accepted: Sep 10, 2024, https://doi.org/10.56815/IJMRR.V3I3.2024/157-165

Abstract

In a world driven by technology, having an extensive knowledge of digital finance is essential for making wise financial decisions. It gives people the know-how to use digital tools and platforms for managing spending, investing, and budgeting. People who possess strong digital financial literacy are better able to manage their resources in a secure and effective manner, which leads to improved financial stability and wellness. The aim with which this study was conducted was to evaluate the role of digital financial literacy among the individuals. One sample t-test was used to evaluate the data collected. The findings of the study indicated that Access to financial services, Debt management, Fraud prevention, Investment knowledge, Savings awareness, Economic participation, Risk management, Financial awareness, Micro finance access, Expense tracking, Digital banking support, Market analysis have a significant role of financial literacy among the individuals. Whereas, it was seen that taxation knowledge and government schemes (government financial assistance programs) have an insignificant role of financial literacy among the individuals.