Journal of Human Resource and Customer Relationship Management

Vol 5, No 1 (2021)

An Overview of Digital Financial Literacy

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Authors:-V. Sonali, Priyabrata Dash

Abstract:-Out of 28 countries, India ranked 23rd position in literacy scale digital financial data released in Financial Literacy and Education Summit in the year 2012. This reveals the information of level of financial literacy in the nation. Different sectors at their own level trying their best to improve their functioning to cope with the updated technology. There is no doubt that the banking sectors are trying their best to utilize their every function through digital platform but still lot of efforts need to be taken by the financial institution for making every individual of the country making more aware for digital financing. Based upon the various steps undertaken the government for digitization, this study is being quite unique by considering the different steps and assumption of present condition in financial market of India. Modi Government decision for Demonitisation to Digital India a major transformation is being taken place in the Indian economy. These steps not only reduced the paper work but also accumulated every citizen into digital platform. Presently whole world is suffering with the pandemic situation and the digital platform helped a lot during these days. Still more awareness and plans need to be done to make cashless economy.

These can be done by Financial Literacy through different campaign in rural areas, advertisements, giving importance for electronic money.

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