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Financial Literacy In India: A Review Of Literature

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  • Rani, Mamta
  • Siwach, Manoj

Abstract

The paper aims to understand various concepts and dimensions of financial literacy by using literature-based analysis. The reviews included various parameters, such as the financial literacy of young people, employees, women and college students, and the impact of financial literacy on well-being and investment decisions. Secondary information was gathered from many publications, websites, research papers, and articles. In the context of India, there is still much work to be done in the domain of financial literacy. Numerous studies have revealed low levels of financial literacy among India’s different demographic segments and some studies have revealed moderate levels. Financial literacy is a difficult topic to describe and quantify. The definition and measurement of this idea are the focus of numerous investigations. Policy changes must be made to improve financial literacy at both the fundamental and advanced levels so that people can save and invest money more sensibly in the various market opportunities.

Suggested Citation

  • Rani, Mamta & Siwach, Manoj, 2023. "Financial Literacy In India: A Review Of Literature," Economic and Regional Studies (Studia Ekonomiczne i Regionalne), John Paul II University of Applied Sciences in Biala Podlaska, vol. 11(2), September.
    • Handle: RePEc:ags:plecrs:339210
    DOI: 10.22004/ag.econ.339210
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    References listed on IDEAS

    as
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    5. Ramesh Prasad Chaulagain, 2015. "Financial Literacy for Increasing Sustainable Access to Finance in Nepal," NRB Working Paper 31/2015, Nepal Rastra Bank, Research Department.
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