Friday, 08 Dec, 2023




Empirical Study on Relationship between Financial Inclusion and Financial Literacy and Its Impact on Consumer Financial Behaviour: A Theortical Framework of Unbanked People

Journal of Commerce and Accounting Research

Volume 8 Issue 1

Published: 2019
Author(s) Name: Pooja Bhagwan | Author(s) Affiliation: Assistant Professor, P.G. Deptt of Commerce, Sri Guru Gobind Singh College, Chandigarh, India.
Locked Subscribed Available for All


Financial Education and Financial Inclusion plays an important role in framing the Reserve Bank of India’s guidelines developed for overall national development. Financial Inclusion (FI) and Financial Literacy (FL) are the two pillars of our economy: FL encourages demand side – making awareness of money to be claimed and FI performs as giving side providing the financial market/services. FI means that it is the procedure of allowing admittance to suitable financial products and services essential by susceptible group, such as unbanked groups at a reasonable cost in a fair and apparent approach by various financial institutions. FL is the learning and accepting of various money linked areas. It helps in analyzing and supervising personal finance in a realistic way and involves the information of building right decisions. The survey was conducted to analyze the impact of FL and inclusion on the consumer financial behavior. The study was conducted in the different nearby areas of Chandigarh and 50 respondents had been selected basically unbanked people. The survey has been done with the help of comprehensive questionnaire. The study reveals the positive and significant relation between the FL and the financial behavior. In this research, review has been done regarding the complexity of the issue of FI, the linkages between FL and FI, its accessibility, and its impact on consumer financial behavior.

Keywords: Financial Education, Financial Literacy, Consumer Financial Behavior, Financial Services

View PDF

Refund policy | Privacy policy | Copyright Information | Contact Us | Feedback ©, All rights reserved