Investigating Financial Literacy’s Influence on Self-Help Group-Bank Linkage Programme with Special Reference to the Indian state of Uttarakhand

Laxmi Pandey (), P. V. Rajeev (), Arpit Saxena and Digvijay Pandey ()
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Laxmi Pandey: IMS Ghaziabad, (U.P)
P. V. Rajeev: IM(FMS), Banaras Hindu University
Arpit Saxena: GNIOT Institute of Professional Studies
Digvijay Pandey: Department of Technical Education (Government of U.P)

Circular Economy and Sustainability, 2024, vol. 4, issue 3, 2339-2364

Abstract: Abstract Financial Literacy is recognized as the primary policy initiative towards all-inclusive growth. It amalgamates knowledge, behavior, and attitude towards financial inclusion, financial resilience, and financial well-being. This study's primary focus is on examining the impact of financial literacy on the bank linkage programme amongst self-help groups. Using primary data from 967 Self Help Group-Bank Linkage Programme (SBLP) members, this study assesses financial literacy and uses Artificial Neural Network analysis to create a workable model that illustrates how SBLP may empower financial literacy. The SBLP is the biggest microfinance initiative in the world. It has been effectively directing small savings and bank loans for low-income households, intending to foster community advancement for financial resilience—a crucial component in times of economic and financial volatility.These results highlight the critical need to increase SHGs' financial literacy to maximize the effectiveness of the Bank Linkage Programme.

Keywords: Artificial Neural Network Models; Financial Inclusion; Financial Institutions; Financial Literacy; Self Help Groups (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s43615-024-00398-y

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