Financial Literacy Among Working Young in Urban India

Indian Institute of Management Ahmedabad, W.P. No. 2013-10-02

27 Pages Posted: 12 Oct 2013

See all articles by Sobhesh Kumar Agarwalla

Sobhesh Kumar Agarwalla

Indian Institute of Management (IIM) Ahmedabad

Samir Kumar Barua

Indian Institute of Management Ahmedabad

Joshy Jacob

Indian Institute of Management

Jayanth Rama Varma

Indian Institute of Management (IIM), Ahmedabad

Date Written: October 10, 2013

Abstract

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

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

Sobhesh Kumar Agarwalla (Contact Author)

Indian Institute of Management (IIM) Ahmedabad ( email )

Vastrapur
Ahmedabad, Gujarat 380 015
India
91.79.66324865 (Phone)

Samir Kumar Barua

Indian Institute of Management Ahmedabad ( email )

Vastrapur
Ahmedabad, Gujarat 380015
India

Joshy Jacob

Indian Institute of Management ( email )

Vastrapur
Ahmedabad, Gujarat 380 015
India

Jayanth Rama Varma

Indian Institute of Management (IIM), Ahmedabad ( email )

Vastrapur
Ahmedabad, Gujarat 380 015
India

HOME PAGE: http://www.iimahd.ernet.in/~jrvarma/

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