Impact of Education on Financial Literacy among Rural Population of Haryana

Description

Page: 372-378

Rachin Suri¹ and Mehrab Singh² (Department of Business Administration, National Institute of Technology, Kurukshetra¹ and Ex-student of Vivek High School, Sector 38 B, Chandigarh²)

In rural India, especially in Haryana, financial literacy is a key factor in determining the well-being of the population. Rural households’ financial situation reflects their vulnerability and lack of readiness, which the COVID-19 epidemic has made worse. Promoting financial literacy is crucial for addressing issues, especially among the largely rural population. Initiatives for financial education may be more effective if they were tailored to rural families. cognitive ability. In addition, focused initiatives and policies are needed to promote digital financial literacy in India, which is quickly digitizing. When developing financial literacy programmes, it is important to take cultural dynamics, accessibility to formal banking services, education, and gender sensitivity into account. This research aimed to understand where the state of Haryana stands in this regard. To understand the level of financial literacy, research was conducted. Indifferent rural regions and collected a sample of 409 people. The interpretation shows that the impact of education is significant for the knowledge and exposure of the respondents.