Abstract

The study assesses the status of financial literacy in West Bengal and finds its impact on household decision-making of 600 respondents from eight selected districts of the state. Financial literacy of female and rural respondents is found to be lower. Higher income and education remain the other significant determinants of financial literacy. Financial literacy is found to significantly affect saving decision, investment decision, borrowing propensity and borrowing quality, the first three being positively and fourth being negatively influenced by financial literacy. However, on retirement planning no significant impact is observed.

Details

Title
Impact of Financial Literacy on Household Decision-Making: A Study in the State of West Bengal in India
Author
Biswas, Shubhra; Gupta, Arindam
Pages
104-113
Section
Articles
Publication year
2021
Publication date
2021
Publisher
EconJournals
e-ISSN
21464138
Source type
Scholarly Journal
Language of publication
English
ProQuest document ID
2610029974
Copyright
© 2021. This work is published under http://creativecommons.org/licenses/by/4.0/ (the “License”). Notwithstanding the ProQuest Terms and conditions, you may use this content in accordance with the terms of the License.