Paper Details

India's service sector workforce increasingly turns to digital platforms for financial decisions, but does technology truly drive better saving habits among northern state investors? Focusing exclusively on saving behaviour, this study addresses that question by surveying 900 professionals across Punjab and Haryana’s trade, hotels, transport, and financial services sectors. Five technological factors are examined digital literacy (β=0.115, CR=2.34), online information and social media influence (β=0.252, CR=4.72), platform ease of use (β=0.104, CR=2.11), security and trust perceptions (β=0.213, CR=4.15), and FinTech adoption (β=0.200, CR=3.89)all demonstrating significant positive associations with disciplined saving practices. Structural equation modeling yields excellent fit indices (CFI=0.96, RMSEA=0.045–0.051, SRMR=0.033), supported by robust sampling adequacy (KMO=0.89), confirming the validity of the five-factor technological structure. The analysis leads to rejection of the null hypothesis H01 stating “no significant consequence of technological factors on saving habits,” with all path coefficients statistically significant at p<0.001. Among the examined dimensions, online information and social media emerge as the strongest driver of systematic saving, closely followed by security and trust, indicating that credible digital guidance and perceived safety are central to building financial discipline. The findings suggest that banks and FinTech providers should prioritize intuitive, secure applications and targeted digital literacy initiatives to convert Punjab and Haryana’s service sector earners into consistent savers, thereby unlocking substantial domestic capital for productive deployment.

Investment Behaviour, Saving Practices, Service Sector, Structural Equation Modeling, Technological Factors.