Abstract

The digital age has transformed financial systems, necessitating improved digital financial competency (DFC) for successful engagement in economic activities. This paper examines the degree of digital financial skills among Kudumbashree women, a community initiative in Kerala focused on reducing poverty and empowering women. The study seeks to evaluate the DFC levels and analyze the influence of factors like age, education, and job. A group of 73 Kudumbashree women from Vellavoor Panchayath in Kottayam district was chosen. Data were gathered employing a self-created Digital Financial Competency Scale with the help of a supervising teacher. The findings showed that most participants (52.05%) had an average level of DFC, while 36.98% displayed a low level and merely 10.95% showed a high level of competency. Statistical evaluation with t-tests and ANOVA revealed significant variations in DFC related to occupation, age, and educational qualifications. Women who are employed demonstrated greater competency than those who are unemployed. In the same way, individuals with higher education levels and those belonging to certain age brackets exhibited enhanced digital financial skills. These results emphasize the critical requirement for focused digital financial education initiatives designed for the specific needs of Kudumbashree women to improve their financial independence, minimize exposure to digital risks, and foster the development and viability of their microenterprises within the digital economy.

Keywords: Digital financial competency, kudumbashree women