Digital Financial Inclusion and Educated Service Pensioners

Digital financial inclusion made revolutionary changes in the global as well as the Indian economy. The modern method of carrying out transactions with digitalization and technologies has transformed the conventional financial system into digital finance. The Young generation adopted and accepted it as the smartest way of financial development, but the senior citizen and their digital literacy are still a challenge for digital financial inclusion in the country. This study focuses on the digital financial inclusion of senior citizens in general and educated government service pensioners in particular. The study is based on primary data and it is collected from fifty government service pensioners with bank accounts and personal electronic gadgets, from the Kottayam District of Kerala. Factor analysis is the major statistical tool used for the analysis and the paper derived a conclusion due to different reasons educated and economically sound senior citizens in the country are not an active part of the national digital financial transformation.