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Title: Assessment of Financial Literacy For Financial Inclusion Among Low Income Households
Researcher: Thiravia Mary Gloria J
Guide(s): Santhi P
University: Avinashilingam Deemed University For Women
Completed Date: 15/07/2014
Abstract: India, being a developed country requires capital formation through saving and investment In order to achieve this objective there should be proper planned promoted and channelled investment pattern among the inhabitants However vulnerable groups such as weaker section and low income groups continue to remain excluded from even the most basic opportunities and services provided by the financial sector The theory of Asymmetric information explains reason for financial exclusion is the lack of correct information about potential borrower and lender Financial inclusion is the delivery of financial services at affordable costs to sections of disadvantaged and low income The contribution of households sectors saving to GDP has also decreased The saving among middle income group and higher income group is increasing but the low income group is left behind without awareness of financial inclusion bank credit and knowledge on financial literacy The primary data was collected through personal interviews with low income households in Coimbatore district consisting of 318 urban and 282 rural respondents using well structured questionnaire Statistical tools like Analysis of variance ChiSquare Analysis and Multiple regressions were employed for data analysis The hypotheses were tested to analyse the current financial practice and to identify basic and advance financial literacy with respect of socioeconomic profile among the urban and rural households from the study area The study reveals that the mean income as well as mean expenditure were higher for rural households than urban households Informal channels for saving was popular in urban and formal channel for saving was popular in rural The inflation was the main obstacles for saving Low and moderate awareness prevailing among awareness towards financial inclusion The low income households lack in basic and advance financial literacy knowledge The both basic advance financial literacy education is the prerequisite for financial inclusion among low income households
Pagination: 226
Appears in Departments:Department of Commerce

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