An Empirical Analysis of Working Women's Economic Empowerment through the Usage of Digital Financial Services with Special Reference to Chennai City

Abstract

Digital financial services (DFS) play a vital role in empowering women in developing countries by enhancing their access to financial resources and breaking down gender-related barriers. These services, which include mobile banking and digital wallets, provide women with opportunities to obtain loans and savings accounts. This study investigated how working women observe digital financial services, focusing on their awareness, usage behaviours, benefits, and limitations. The purpose of the study was to determine working women's awareness of digital financial services. A structured questionnaire along with a non-probability convenience sampling method was used to collect data from 220 working women in a major part of Chennai city. The researcher has used both univariate and
multivariate statistical tools, such as factor analysis, CFA, and SEM, to validate the relationship among the dependent and independent
variables. To improve digital financial literacy and overcome the obstacles faced by working women, the research highlighted the
significance of focused educational initiatives and policy interventions at the grassroots level by both financial institutions and governing institutions. This research attempts to educate stakeholders, such as legislators, financial institutions, and technology developers, to promote an inclusive and encouraging digital financial ecosystem among working women by offering knowledge on digital financial literacy and financial inclusiveness.