The increasing adoption of digital payment systems has transformed the way financial transactions are conducted, making digital payments an essential part of daily activities. However, despite this rapid technological advancement, variations exist in consumer experiences, acceptance levels and perceptions regarding government-led Digital Payment Services (GLDPs) facilitated through public and private sector banks. Therefore, this study aims to explore consumer perceptions regarding the adoption of government-led digital payment services and assess how these perceptions differ between customers of public sector banks and private sector banks. The research focuses on analysing dimensions such as awareness, accessibility, usability, trust, security and service-related challenges affecting adoption behaviour. Furthermore, the study compares consumer adoption patterns between Public Sector Banks (PSBs) and Private Sector Banks (PrSBs) and examines the challenges faced by users while utilizing government-supported digital payment platforms. A sample size of 390 consumers from SBI and HDFC banks is considered and an interview is conducted using a structured questionnaire. Both qualitative and quantitative approaches are used in the research methodology. Descriptive statistics and inferential statistical tools, which include factor analysis and SEM, were employed in analysing the data. The analysis on adoption behaviour demonstrated a moderate to high level of adoption of GLDPs among the consumers. Trust & security appear to be the strong drivers underscoring the significance of confidence in sustainable usage of digital platforms.

Financial literacy can be defined as the ability of individuals to effectively understand, manage, and utilize financial resources to achieve better financial outcomes. It plays a significant role in enhancing individual financial well-being as well as contributing to broader economic development. Since individual investors form an important part of the financial ecosystem, this study explores the influence of financial literacy on their investment decision-making behaviour. The study is based on data collected from more than 200 individual investors from Hyderabad and Secunderabad and examines key dimensions of financial literacy, including knowledge of financial products, accessibility to financial services, money management practices, awareness of investment alternatives, and the ability to make informed investment decisions. Additionally, the research investigates various behavioural biases that investors may develop through personal experiences, investment exposure, and social influences. The findings indicate that practical financial skills have the strongest influence on investment behaviour, whereas basic awareness of financial products has comparatively less impact. The study emphasizes that behavioural biases can significantly affect investment choices and may influence the overall performance and returns of investors. Based on these insights, the research provides recommendations for policymakers and financial institutions to promote skill-oriented financial education and strengthen investors’ decision-making capabilities.