FINANCIAL LITERACY AND BANKING HABITS AT IDFC FIRST BANK

Abstract

An individual's level of financial literacy has a major impact on their financial behavior and decisions. The purpose of this project is to determine the level of financial literacy among consumers and how it effects their banking activities, with a focus on IDFC FIRST Bank. The poll assesses key factors such as familiarity with banking products, awareness of digital banking, understanding of savings and investment possibilities, and smart financial practices. Structured questionnaires were used to collect information from a wide group of IDFC FIRST Bank customers. The statistics show a link between financial literacy and responsible banking practices, such as making sound investment selections, repaying loans on time, using digital banking services, and saving consistently. The findings show that people with a higher level of financial literacy are better at managing their finances, using banking services more effectively, and protecting their overall financial well-being. The research underlines the need of ongoing customer education initiatives for financial institutions in cultivating a financially responsible society, increasing customer happiness, and promoting educated financial decisions.