A study on the Level of Financial Literacy Among Indian Women: A Review of Selected Literature

Abstract

Financial Literacy has become an inevitable part of human life. This is useful for every person regardless of whatever is the occupation of the person. A person who is financially illiterate does not have the conscience of investing the money in a useful manner. Financial Literacy means the ability to use money in a correct manner. It provides a base to individuals to comprehend, manage and plan their personal financial planning. In other words, it means having skills and knowledge on the basis of which a person can take effective decisions.  It becomes very important in the context of taking financial decisions, such as investment, financial planning, retirement planning etc. Thus, the significance of financial literacy becomes increasingly important. Women are the inseparable part of modern society. Women takes various financial decisions which cannot be effective without the having proper knowledge of financial literacy. Thus, it becomes interesting to know about their literacy level in women. This study reviews the various research papers. The objective of this study is to analyze the level of financial literacy among Indian women by using literature-based study. Secondary data is collected from various sources such as journals, websites research papers and articles. The study will be helpful for the state and central governments for the formulations of various policies regarding level of financial literacy.