Affiliation:
1. Teaching Assistant, Department of Banking Management, Alagappa University-Karaikudi.
2. Professor, Department of Banking Management, Alagappa University- Karaikudi.
3. Assistant Professor, Department of Commerce, Peri College of Arts and Science-Chennai.
Abstract
Financial Literacy enhances the ability to effectively monitoring of financial resources for developing the economic security of a person. Financial stability of economy is based on these terms and currently it is necessary for developing and developed country. Presently most of the countries are adopting various programmes for financial education. India is having large population, growing economy with national focus on inclusive growth and an urgent requirement to develop a vibrant and stable financial system. Financial literacy is the cognitive understanding of financial components and skills such as budgeting, investing, borrowing, taxation, and personal financial management. Achieving financial literacy is crucial in today’s society due to everyday facets of life, such as availing loans, mortgages, credit cards, investments, and health insurance. The study focuses on the financial literacy based on the banking services and insurances towards people residing in Sivaganga districts in Tamil Nadu.
Reference15 articles.
1. M E A Guidolin, La Jeunesse (2007), The decline in the US personal saving rate: Is it real and is it a puzzle? Federal Reserve Bank St, Louis Review, volume 89, issue 6, pp. 491 – 514.
2. M A Hilgert, J M Hogarth, S G Beverly (2003), Household financial management: The connection between knowledge and behavior, Federal Reserve Bulletin, volume 89, p. 309
3. A C Lyons, L Palmer, K S U Jayaratne, E Scherpf (2007), Are we making the grade? A national overview of financial education and program evaluation, The Journal of Consumer Affairs, volume 40, p. 208 - 235
4. L Mandell (2008), Financial knowledge of high school seniors, Advances in Consumer Finance Research, p. 170 – 171.
5. OECD. (2012). High-level Principles on National Strategy for Financial Education.