A Study on Digital Financial Awareness Among College Students

Dr. Parth Rashmikant Bhatt

Assistant Professor, Department of Accountancy,

R. C. College of Commerce

Ahmedabad, Gujarat, Bharat.

parthbhatt16@gmail.com

ABSTRACT

The rapid advancement of technology and the growing acceptance of digital payment systems have made digital financial services an important part of modern financial activities. The present study explores the level of digital financial literacy of college students in terms of digital payment usage behaviour, security awareness, banking and digital financial knowledge and behavioural attitude towards digital financial systems. The present study is empirical and descriptive in nature and based on primary data collected from 200 college students through a structured questionnaire. Statistical tools such as percentage analysis, mean, standard deviation, Cronbach’s Alpha and One-Sample t-Test have been employed for the analysis and interpretation of the data. The results indicate that college students have a relatively high level of digital financial awareness and frequently use digital payment systems. The study also shows that respondents are satisfactorily aware of transaction security and fraud prevention practices. The results of the One-Sample t-Test also indicate that the mean scores of all dimensions are significantly higher than the average level of awareness.

Keywords: Digital Financial Awareness, Digital Financial Literacy, College Students, Financial Behaviour.