Financial Literacy Among Working Young in Urban India

The paper reports investigation of a study on the influence of various socio-demographic factors on different dimensions of financial literacy among the working young in urban India. While the influence of several factors such as gender, education and income is similar to what has been reported in other contexts, a few factors specific to India, such as joint-family and consultative decision making process are found to significantly influence financial literacy. The study also investigates the relationship between the dimensions of financial literacy. Adding to the growing empirical understanding of financial literacy across countries, the study provides an analytical basis for enunciating policy for enhancing financial literacy of youth in India.

Keywords: Financial Literacy, Financial Knowledge, Financial Behavior, Financial Attitude, Youth, India

JEL Classification: D91, D140

Suggested Citation: Suggested Citation

Agarwalla, Sobhesh Kumar and Barua, Samir Kumar and Jacob, Joshy and Varma, Jayanth Rama, Financial Literacy Among Working Young in Urban India (October 10, 2013). Indian Institute of Management Ahmedabad, W.P. No. 2013-10-02, Available at SSRN: https://ssrn.com/abstract=2338723 or http://dx.doi.org/10.2139/ssrn.2338723