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  1. Review of Literature

Review of Literature

Harsha V Jariwala (2014) used 44 variables to analyse the financial literacy of individual investors in Gujarat, India, and its impact on investment decisions. According to the study, 39.2 percent of 285 respondents have a high level of financial literacy, and financial literacy has a statistically significant impact on investing decisions. Financial literacy is important for managing funds and investing patterns of both teaching and non-teaching female staff (20 teaching and 20 non-teaching female staff) in the education sector of Jhansi District, according to Priyanka Agarwal et al. (2015). The majority of working women are aware of Investment Avenue and invest their savings in fixed deposit accounts at banks and post offices.

Academic librarians can contribute to campus financial literacy by identifying and publicizing authoritative sources for financial decision-making, instruction, and research, as Livengood and Venditti (2012) do with a selection of financial literacy resources. In research evaluating popular personal finance literature, Faulkner looked at library collections for financial literacy. Faulkner (2017) went on to find similarities and distinctions between this genre and financial literacy library programming. Another example of university libraries’ involvement in student financial literacy is programming, events, and workshops. For example, in 2017, more than 1,000 libraries, including academic, public, school, prison, and other types, took part in Money Smart Week @ Your Library, a joint initiative of the American Library Association and the Federal Reserve Bank of Chicago that encourages libraries to provide financial literacy programming during a week in April.

Finau et al. (2016) conducted a survey of rural Fijians about their perceptions about digital financial services, and their findings show that financial literacy training can help to moderate those perceptions. Consumers who got financial literacy training from banks, in particular, were better able to assess the explicit costs of DFS and comprehend the procedures for risk reduction. They also add to the body of knowledge by emphasizing demographic factors that may influence customer views of DFS’ benefits. Because they have grown up with technology and are accustomed to quick reaction times, younger consumers may enjoy the time saved by using DFS.

The importance of financial literacy in today’s world is examined by Mirilani and Purvi (2017). The study’s findings will highlight roadblocks to the implementation of various financial literacy programmes in India, as well as solutions for implementing these policies effectively and efficiently. They suggested that the government’s programmes will only be successful if citizens participate in the transition. Schools and colleges can raise public awareness about the activities and convey knowledge to the people in their communities. RBI and SEBI have already taken a number of initiatives to raise public awareness about the need of financial literacy, including providing online financial literacy classes on their websites.

Hanuman, P., Devendra, M., and Dayama, V. (2018) conducted a survey of digital financial literacy in Udaipur households. The study’s findings will provide important guidance for both digital platform providers and governments in encouraging citizens to engage in digital commerce. The report also advises that a wave of public awareness campaigns is needed to bring more people under the digital transaction tent. Furthermore, a cash transaction-oriented economy like India requires a two-pronged approach, with more policies encouraging the use of digital cash on the one hand and less regulations encouraging the use of cash on the other.

“The effect of librarians’ digital abilities on technology acceptance in academic libraries in Jordan,” according to Hamad et al. (2020). The results show that librarians have a high level of digital skills. The findings also reveal that one of the most significant barriers to librarians obtaining the necessary skills is a lack of funds. Most importantly, librarians’ digital abilities have a favorable impact on their adoption and use of technology in Jordan’s academic libraries. The results were unaffected by criteria such as gender, age, experience, specialization, or library type. The findings of this study will aid in the exploration of the abilities and competencies required of information workers, as well as serve as a guideline for competency development and curriculum changes at international librarianship and information science institutions.

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