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ALLANA MANAGEMENT JOURNAL OF RESEARCH, PUNE - Volume 3, Issue 1, January 2013- June 2013

Pages: 28-31
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Author: Prof. Kavaldeep Dixit , Geeti Sharma

Category: General Management


Financial literacy is the requisite knowledge of finance al products and advantageous attitudes which leads to outcomes related to money and finance. The importance of financial knowledge is expected to improve in recent years due to the developments in financial markets as well as demographic, economic and policy changes. In India innumerable steps have been taken by various agencies in the area of enhancing financial literacy and broadly, these are targeted to elevate the understanding about the ideologies and conventions of savings and money and to enable individuals to take optimal financial decisions consistent with their goals. However, studies that have attempted to scan the level of financial literacy in India have mostly, reported that the level of financial literacy in India is poor. The VISA (2012) study ranks India at the 23rd position among the 28 countries surveyed. The wide cultural and socio-economic diversities in India make it difficult to evolve a cohesive view about the existing level of financial literacy. A nationwide and all- inclusive research on financial literacy is required and this study is a drop in that ocean of knowledge. The financial literacy score is obtained by adding scores of three different proportions financial know(edge, financial attitude, and financial behaviour but students can be surveyed only on financial knowledge as they might not have noteworthy exposure in dealing with personal or household finance so the current study attempts to survey financial knowledge among management students. The research would help in generating insight about financial literacy among the young and educated in Jaipur city. KEYWORDS Financial Literacy, Financial Knowledge, Financial Attitude, Investment Decision,Financial Behaviour