WOMEN'S LONG-TERM SAVINGS ONCRYPTOCURRENCY-A TOOL FOR THEIR DIGITAL FINANCIAL INCLUSION

Abstract: Women explicitly showed lower rates of financial inclusion than men in many developing nations like India earlier due to variety of factors, such as physical and cultural constraints and lack of access to financial services. But now, digital financial services can help close this gap by giving women the access to financial services from the convenience of their own homes. Women can manage their own accounts, conduct transactions, and save money by gaining access to financial services through digital methods without depending on males or middlemen. Increased financial control and independence are important effects of this digital financial inclusion on women's long-term savings. Thus, “Digital financial inclusion” can be defined broadly as digital access to and use of financial services by excluded and underserved populations. In this paper we explore the seven socio demographic characteristics like age, education, stream of education, income, place of education both school and college and nature of employment of the women, more precisely the women teaching fraternity, for their investment on digital virtual currency. The study reveals that, only 5% of the women teachers have invested in cryptocurrency. The majority of the women teachers who have invested in cryptocurrency are between the age group of 31-40 and their nature of employment is only from Private Institutions and none from Government or Government-Aided Institutions. Most notably women teachers who earn more than 40k and above show zero crypto-asset ownership, while teachers whose salary in less than 10k have invested in cryptocurrency comprises 14.28%. Statistical significance test using Chi-Square test of intendency concludes that place of school Education show the significant relationship with the cryptocurrency ownership of the women teachers.