Position of Financial Literacy and Indebtedness in India
Commonwealth Journal of Commerce and Management Research, (Indexed in UGC, ISI, RIF), Vol. 5, Issue 2 (February 2018). ISSN:2393-851X. Impact Factor 4.382
26 Pages Posted: 28 Jul 2017 Last revised: 4 Mar 2018
Date Written: July 26, 2017
The picture of financial literacy in India is gruesome. Indebtedness is on a constant rise and the strategic impetus of the Govt. of India appears counterproductive. Financial literacy and its impact across various demographics have been widely studied in the developed economies. Study corroborates that financial literacy is important for an individual to make appropriate short term and long term financial decisions. Unfortunately, revelations made in India, both in terms of financially literate population and the menace of indebtedness are alarming.
Keywords: Financial Literacy, Indebtedness, Financial Inclusion
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