Financial Literacy in India: A Review of Literature

Rani Mamta () and Siwach Manoj ()
Additional contact information
Rani Mamta: Chaudhary Devi Lal University, Sirsa, India
Siwach Manoj: Chaudhary Devi Lal University, Sirsa, India

Economic and Regional Studies / Studia Ekonomiczne i Regionalne, 2023, vol. 16, issue 3, 446-458

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.

Keywords: financial literacy; investment; banking; well-being (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/ers-2023-0029 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrs:ecoreg:v:16:y:2023:i:3:p:446-458:n:6

DOI: 10.2478/ers-2023-0029

Access Statistics for this article

Economic and Regional Studies / Studia Ekonomiczne i Regionalne is currently edited by Mieczysław Adamowicz

More articles in Economic and Regional Studies / Studia Ekonomiczne i Regionalne from Sciendo
Bibliographic data for series maintained by Peter Golla ().