A Study on Level of Awareness towards Digital Financial Services in Rural Households

Abstract

Financial Inclusion is the roadmap to bring the rural people from the unbanked and unreached segments in the society into the formal financial system. Digital financial services involves the deployment of the cost-saving digital means to reach currently financially excluded and underserved populations with a range of formal financial services suited to their needs that are responsibly delivered at an affordable cost to customers. This paper analyzes the significance of socio-economic factors of the respondents on awareness of digital financial services among 150 respondents belonging to rural households of Coimbatore using one way- Anova. The study found that all socio economic factors significantly influence the awareness of the digital financial services except number of adults in the household and ownership of land.