Digital financial literacy among adults in India: measurement and validation
The ongoing COVID-19 pandemic has considerably promoted the usage of Digital Financial Services (DFS) in India. Therefore, exploring the various determinants influencing the DFS users is crucial for the DFS providers to understand their customers better. This study aims to identify, measure, and val...
Saved in:
| Main Authors: | , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Taylor & Francis Group
2022-12-01
|
| Series: | Cogent Economics & Finance |
| Subjects: | |
| Online Access: | https://www.tandfonline.com/doi/10.1080/23322039.2022.2132631 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1849687376170844160 |
|---|---|
| author | T Ravikumar B Suresha N Prakash Kiran Vazirani T.A. Krishna |
| author_facet | T Ravikumar B Suresha N Prakash Kiran Vazirani T.A. Krishna |
| author_sort | T Ravikumar |
| collection | DOAJ |
| description | The ongoing COVID-19 pandemic has considerably promoted the usage of Digital Financial Services (DFS) in India. Therefore, exploring the various determinants influencing the DFS users is crucial for the DFS providers to understand their customers better. This study aims to identify, measure, and validate the determinants of Digital Financial Literacy (DFL) from the Indian adults who use Digital Financial Services. A sample of 384 adult DFS users from India was surveyed using a self-administered questionnaire in 2021. A multidimensional scale was developed to measure the Digital Financial Literacy in this study. The results exhibit that Digital Knowledge, Financial Knowledge, Knowledge of DFS, Awareness of Digital Finance Risk, Digital Finance Risk Control, Knowledge of Customer Right, Product Suitability, Product Quality, Gendered Social Norm, Practical Application of Knowledge and Skill, Self-determination to use the Knowledge and Skill and Decision Making are the determinants of DFL among the adults in India. Further, the users of DFS without DFL will face numerous challenges such as inability to complete the transaction, financial loss and privacy breach, etc. Hence, the study concludes that DFL is prerequisite to use DFS effectively. |
| format | Article |
| id | doaj-art-40b6b79c34f64a4e8cab7e19eadeb883 |
| institution | DOAJ |
| issn | 2332-2039 |
| language | English |
| publishDate | 2022-12-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Cogent Economics & Finance |
| spelling | doaj-art-40b6b79c34f64a4e8cab7e19eadeb8832025-08-20T03:22:21ZengTaylor & Francis GroupCogent Economics & Finance2332-20392022-12-0110110.1080/23322039.2022.2132631Digital financial literacy among adults in India: measurement and validationT Ravikumar0B Suresha1N Prakash2Kiran Vazirani3T.A. Krishna4School of Business and Management, CHRIST (Deemed University), Bangalore, IndiaSchool of Business and Management, CHRIST (Deemed University), Bangalore, IndiaSchool of Business and Management, CHRIST (Deemed University), Bangalore, IndiaSchool of Business and Management, CHRIST (Deemed University), Bangalore, IndiaSchool of Commerce, Finance, and Accountancy, CHRIST (Deemed to University), Bangalore, IndiaThe ongoing COVID-19 pandemic has considerably promoted the usage of Digital Financial Services (DFS) in India. Therefore, exploring the various determinants influencing the DFS users is crucial for the DFS providers to understand their customers better. This study aims to identify, measure, and validate the determinants of Digital Financial Literacy (DFL) from the Indian adults who use Digital Financial Services. A sample of 384 adult DFS users from India was surveyed using a self-administered questionnaire in 2021. A multidimensional scale was developed to measure the Digital Financial Literacy in this study. The results exhibit that Digital Knowledge, Financial Knowledge, Knowledge of DFS, Awareness of Digital Finance Risk, Digital Finance Risk Control, Knowledge of Customer Right, Product Suitability, Product Quality, Gendered Social Norm, Practical Application of Knowledge and Skill, Self-determination to use the Knowledge and Skill and Decision Making are the determinants of DFL among the adults in India. Further, the users of DFS without DFL will face numerous challenges such as inability to complete the transaction, financial loss and privacy breach, etc. Hence, the study concludes that DFL is prerequisite to use DFS effectively.https://www.tandfonline.com/doi/10.1080/23322039.2022.2132631Financial serviceseducational financedigitizationfinancial innovation and inventions and financial technology |
| spellingShingle | T Ravikumar B Suresha N Prakash Kiran Vazirani T.A. Krishna Digital financial literacy among adults in India: measurement and validation Cogent Economics & Finance Financial services educational finance digitization financial innovation and inventions and financial technology |
| title | Digital financial literacy among adults in India: measurement and validation |
| title_full | Digital financial literacy among adults in India: measurement and validation |
| title_fullStr | Digital financial literacy among adults in India: measurement and validation |
| title_full_unstemmed | Digital financial literacy among adults in India: measurement and validation |
| title_short | Digital financial literacy among adults in India: measurement and validation |
| title_sort | digital financial literacy among adults in india measurement and validation |
| topic | Financial services educational finance digitization financial innovation and inventions and financial technology |
| url | https://www.tandfonline.com/doi/10.1080/23322039.2022.2132631 |
| work_keys_str_mv | AT travikumar digitalfinancialliteracyamongadultsinindiameasurementandvalidation AT bsuresha digitalfinancialliteracyamongadultsinindiameasurementandvalidation AT nprakash digitalfinancialliteracyamongadultsinindiameasurementandvalidation AT kiranvazirani digitalfinancialliteracyamongadultsinindiameasurementandvalidation AT takrishna digitalfinancialliteracyamongadultsinindiameasurementandvalidation |