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REVIEW ARTICLE
FINANCIAL LITERACY IN INDIA: A REVIEW OF LITERATURE
1
ECONOMICS, Chaudhary Devi Lal University, Sirsa, India
Submission date: 2023-01-19
Final revision date: 2023-04-07
Acceptance date: 2023-04-27
Publication date: 2023-09-28
Corresponding author
Economic and Regional Studies 2023;16(3):446-458
KEYWORDS
JEL CLASSIFICATION CODES
G21
TOPICS
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.
PEER REVIEW INFORMATION
Article has been screened for originality
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