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Determinants of financial literacy in rural India: A study of Aligarh district

Author

Listed:
  • N. P. Abdul Azeez

    (Department of Economics, Aligarh Muslim University, Aligarh, Uttar Pradesh, India)

  • S. M. Jawed Akhtar

    (Department of Economics, Aligarh Muslim University, Aligarh, Uttar Pradesh, India)

Abstract

What drives rural people to use financial services and products is a critical step in the journey towards financial inclusions. The financial service providers and policymakers have engaged with this challenge by seeking insights into the socio, economic, demographic and cultural factors that prompt people to be aware and learn about financial services and products, try them out, and use them over time. The determinants of financial literacy focus more sharply on the socio-economic demographic factors, and have used ordinary least square, multiple regression model. This model determines how various independent variables namely age, gender, income, religion, social groups, family size, marital status, educational level, occupation, etc. significantly influence financial literacy of the respondents.

Suggested Citation

  • N. P. Abdul Azeez & S. M. Jawed Akhtar, 2022. "Determinants of financial literacy in rural India: A study of Aligarh district," International Journal of Financial Engineering (IJFE), World Scientific Publishing Co. Pte. Ltd., vol. 9(02), pages 1-17, June.
    • Handle: RePEc:wsi:ijfexx:v:09:y:2022:i:02:n:s2424786321500092
    DOI: 10.1142/S2424786321500092
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