Financial literacy among working women in different sectors a study of bundelkhand region of uttar pradesh

Abstract

Financial literacy among women can contribute to inclusive growth of socially and economically newlinebackward region like Bundelkhand. If women are financially educated the household would newlineresort to regular saving which in turn would lead to investment in right channel and income newlinegeneration. It is presumed that the financial well being of household could be achieved more newlinethrough financial literacy particularly in case of women. Financial education can bring a newlinecascading effect on inclusive growth of Bundelkhand region. newlineFinancial literacy has gained universal recognition all over the world. However, research from newlinedifferent countries has documented that there is a wide spread deficiency in financial literacy newlinespecially in India. It cannot be ignored that India is one of the fastest growing economy with a newlinelarge population. It has a national focus on inclusive growth. There is an urgent need to develop newlinea vibrant and stable financial system specially in Backward areas like Bundelkhand to make it newlinemore effective. Financial literacy is the ability to make informed judgments and to take effective newlinedecisions regarding the use and management of money. Financial literacy is therefore a newlinecombination of a person s skills, knowledge, attitudes and ultimately their behaviour in relation newlineto money . newlineThe aim of study is to evaluate the status of financial literacy among women in Bundelkhand newlineregion of Uttar Pradesh, their basic financial skills, impact of financial literacy on investment newlinebehaviour and factor influencing the financial literacy among women working for different newlinesector in the region. For this samples were taken from 490 working women from Medical, newlineInsurance, Education, Banking and Community and personal services from areas of Bundelkhand newlinei.e Jhansi, Banda, Lalitpur, Mahoba, Hamirpur , Chitrakoot and Jalaun. newlineThe research is based on exploratory and descriptive research with the help of a well tested newlinequestionnaire to make the survey very authenticated and result oriented. Further secondary data newlinewas also collected from other sources su