An investigation into the Digital Financial Literacy of employed individuals in rural India: A case study focusing on Mayurbhanj district.

Abstract Objective: The present study analyzed the level of digital financial literacy of salaried persons working in Mayurbhanj district of Odisha. It was also aimed to explore online threat experience, benefits of digital transaction and barriers of digital payments. Methodology: Digital financial literacy was measured using three basic factors: knowledge and usage of digital financial services, awareness of digital financial risk and self-protection. For measurement of digital financial literacy 120 samples were selected using purposive sampling method and data were collected using structured questionnaire. Out of the collected data, 16 filled up questionnaires were rejected due to insufficient information and 104 valid responses were used for the analysis. The data were analyzed using SPSS. Results: Through the survey, it was found out that only 21.2 percent respondents have high digital financial literacy level where as 27.9 percent respondents have average digital financial literacy and 51 percent respondents have low level of digital financial literacy. During the survey it was also found out that 10.6 percent respondents have been victim of digital financial frauds and phishing scam is common among other scams with 19.2 percent. Conclusion: Digital financial literacy is one of the very basic skills which is required to be acquired by everyone in this digital era. 94.2 percent of the respondents have received scam messages out. Salaried persons having constant income and bank account with regular transactions can be easy target of the scammers.