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In the evolving landscape of the digital economy, both financial and digital literacy have become essential. This study investigates the mediating role of DFL in the relationship between financial attitude, financial socialisation, and personal financial management behaviour (PFMB) among working and non-working women in Punjab, India. Drawing on the Theory of Planned Behaviour, the research explores how psychological and social factors influence financial behaviour through the lens of digital competence. Using a structured questionnaire, data were collected from a representative sample of women across various districts in Punjab. The study employed Smart PLS 4.0 to examine direct and mediated relationships among the key constructs. The findings reveal that both financial attitude and financial socialisation significantly influence PFMB, and that DFL plays a partial mediating role in these relationships. Notably, working women exhibited higher levels of DFL and more proactive financial behaviours compared to their non-working counterparts. The results emphasise the importance of digital financial literacy as a critical enabler of financial empowerment for women, particularly in semi-urban and rural areas. This study contributes to the growing discourse on digital financial inclusion and offers practical implications for policymakers, educators, and financial institutions seeking to bridge gender and digital divides in financial access and decision-making.
Kuldip Kaur (Wed,) studied this question.