Digital financial literacy, saving and investment behaviour in India

This research examines the association between Digital Financial Literacy (DFL), Saving Behaviour, and Investment Behaviour, and investigates the impact of DFL on Saving and Investment Behaviours among individuals in Delhi NCR, India. Data were collected from 500 respondents aged 24–45 through a questionnaire, and the relationships between variables were evaluated using the Structural Equation Model (SEM) with AMOS. Findings revealed that higher levels of DFL significantly favor both Saving and Investment Behaviours. Additionally, the study indicated that socioeconomic factors, such as income, positively influence DFL, while age and educational level do not. This research maps the prevalence of DFL among Indians and contributes to the limited body of knowledge on DFL, especially in the Indian context. However, the focus on Delhi NCR participants suggests caution in generalizing the results to broader populations. The findings from this research are anticipated to help policymakers develop targeted regulations that enhance Digital Financial Literacy (DFL) for younger generations, focusing on their unique needs and challenges in the digital financial environment.