• Riya Raju George

Digital financial literacy has become the present need of India. There is growing awareness in this direction since the onset of demonetization. In an era where computers communicate, take orders, move and do about almost all activities that were previously the domain of a live human being, it is necessary that our country take calculated steps to advance towards this mission. A digital and cashless economy is the current mission. Digital literacy is thus, the ability to make informed judgement and take effective decisions regarding the use and management of money, in a digital mode. There has been a rapid surge in online traffic and usage of web based and mobile application based portals- both financial or other wise, but this is limited to urban or metropolitan cities. India’s national divide is loud and clear in this aspect. During the phase of demonetization, dozens of hundreds of people around the nation crowed ATMs and the bank branches, hence proving that India has a along way to go before it achieves a complete state of digitization. This study examines the rate of digital financial literacy and how it acts as a necessary primary step towards a much enhanced financial literacy and financial inclusion. This study also examines various demographic variables and their effects on financial and digital financial literacy and factors that affect or hinder the use of digital financial products. A sample of respondents using convenience sampling technique were collected for the purpose of this study. That is random sampling technique was used for the study. The findings suggest that external forces such as demonetization in fact affect digital financial literacy and government and fin tech companies need to take take measured steps to induce the people into using digital facilities and explain the added advantage of ensuring user friendly technology and provision of rewards.

digital financial literacy, cashless economy,online and web based, mobile applications, demographic variables, financial literacy, financial inclusion.

"A Study on Digital Financial Literacy: A precedent for Improved Financial Literacy and Financial Inclusion.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.7, Issue 6, page no.1531-1547, June-2020, Available :http://www.jetir.org/papers/JETIR2006225.pdf

"A Study on Digital Financial Literacy: A precedent for Improved Financial Literacy and Financial Inclusion.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.7, Issue 6, page no. pp1531-1547, June-2020, Available at : http://www.jetir.org/papers/JETIR2006225.pdf