Open AccessDigital Financial Literacy and Its Determinants: An Empirical Evidences from Rural India
Author(s) -
Abdul Azeez,
S. M. Jawed Akhtar
Publication year - 2021
Publication title -
south asian journal of social studies and economics
Language(s) - English
Resource type - Journals
ISSN - 2581-821X
DOI - 10.9734/sajsse/2021/v11i230279
Subject(s) - financial literacy , financial inclusion , marital status , literacy , digital literacy , digital divide , ordinary least squares , rural area , business , economic growth , demographic economics , financial services , information and communications technology , finance , economics , sociology , political science , demography , population , pedagogy , law , econometrics
Banking and financial institutions are undergoing a dramatic transformation in this digital age. Despite the extended digital communications, a significant proportion of the people cannot transact financially especially in rural areas. Effective financial transactions could be made possible through skills, awareness, and attitudes to use digital tools and digital transactions tools. Therefore, digital financial literacy became more critical nowadays and is considered prerequisites and preliminary steps for people's inclusion in the financial system. The determinants of digital financial literacy focus on the socio-economic demographic factors and used ordinary least square, multiple regression model. This model determines how various independent variables, namely age, gender, income, religion, social groups, family size, marital status, educational level, occupation, etc., significantly influence the respondents' digital financial literacy. The analysis is based on the primary data with five hundred samples collected from the rural areas of Aligarh district.