Measurement and Analysis of Financial Literacy: A Study of Kinnaur District of Himachal Pradesh

Studies in Indian Place Names, 40(68), pp. 55-71.

17 Pages Posted: 22 Oct 2020 Last revised: 24 Oct 2020

See all articles by Dr Anil Kumar

Dr Anil Kumar

Shri Ram College of Commerce

Ashwani Kumar

Shri Ram College of Commerce

T Varun Reddy

Shri Ram College of Commerce

Date Written: March 31, 2020

Abstract

Although ‘National Mission for Financial Inclusion’ launched in August 2014 has achieved remarkable success in India, ‘Financial Illiteracy’ remains a major bottleneck in financial inclusion. This paper measures the financial literacy level of Kinnaur district of Himachal Pradesh, a north Indian state situated in the Western Himalayas. Investigating the socio-economic and demographic determinants of financial literacy, the study reveals low level of financial literacy despite relatively better social indicators of the district and explains the factors causing such levels. ‘Education’ and ‘Income’ are found to be significant explanatory variables of financial literacy.

Keywords: Financial Literacy, Financial Literacy Index, Financial Inclusion, Kinnaur

Suggested Citation

Kumar, Anil and Kumar, Ashwani and Reddy, T Varun, Measurement and Analysis of Financial Literacy: A Study of Kinnaur District of Himachal Pradesh (March 31, 2020). Studies in Indian Place Names, 40(68), pp. 55-71. , Available at SSRN: https://ssrn.com/abstract=3686553

Anil Kumar

Shri Ram College of Commerce ( email )

North Campus
Maurice Nagar
Delhi, 110007
India
9810857745 (Phone)

HOME PAGE: http://https://srcc.edu/dr-anil-kumar

Ashwani Kumar

Shri Ram College of Commerce ( email )

North Campus
Maurice Nagar
Delhi, 110007
India
9213215959 (Phone)

HOME PAGE: http://https://srcc.edu/mr-ashwini-kumar

T Varun Reddy (Contact Author)

Shri Ram College of Commerce ( email )

North Campus
Maurice Nagar
Delhi, 110007
India
+91 7702547617 (Phone)

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