scholarly journals An Examination into the Link between Financial Inclusion, Financial Literacy and Investment Patterns

2017 ◽  
Vol 4 (01) ◽  
Author(s):  
Swati Narula
Keyword(s):  
Financial Markets ◽  
Financial Literacy ◽  
Well Being ◽  
Literacy Skills ◽  
Financial Inclusion ◽  
Financial Exclusion ◽  
The World ◽  
The Government ◽  
Investment Patterns ◽  
Financial Environment

A sound financial system is considered as the backbone of an economy. This holds true especially in a country like India where still a majority of the population is unbanked or “financially excluded”. Research worldwide has pointed out that financial illiteracy is one of the major contributors of financial exclusion. The financially illiterate investor is unable to navigate the contemporary complex financial markets with ease. The financial environment in the world has undergone a tremendous change shifting much of the responsibility on the individuals to manage their finances and plan future well-being. Hence, the importance of acquiring financial literacy skills has grown manifolds. Due to this, financial literacy and financial inclusion has elicited much interest in the recent past in both developed and developing countries of the world. In this paper, an attempt has been made to identify level of financial literacy of the investors in Delhi. An investigation of the investment pattern of investors has also been done. Further, a nexus between financial literacy, financial inclusion and economic growth has also been investigated. In addition, the various efforts undertaken by the government of India and various other parties has also been discussed in detail.

Financial Inclusion through Financial Literacy

2022 ◽  
Vol 13 (1) ◽  
pp. 0-0
Keyword(s):  
Financial Literacy ◽  
Uttar Pradesh ◽  
Secondary Data ◽  
Financial Education ◽  
Well Being ◽  
Financial Inclusion ◽  
Financial Decisions ◽  
College Curriculum ◽  
Financial Exclusion ◽  
The Government

Financial literacy is a means to tackle the problem of financial exclusion. It is a combination of awareness, skills, knowledge, attitude and behaviors necessary to make sound financial decisions and achieve financial well being. Objective of this study is to analyze current policy, practices and evidences on financial literacy. The study has been carried out on the basis of review of literature and secondary data collected from a range of sources. It is found that the government of India, RBI and other regulatory bodies are running financial literacy campaigns through diverse mediums. Financial literacy centers (FLCs) are contributing for enhancement of financial literacy. However, they need to be strengthened by enhancing resources. Inclusion of financial education in school and college curriculum has also been recommended. Scope of the study is limited to Ghaziabad district of Uttar Pradesh in India. The study might be valuable for policymakers in enhancing financial inclusion.

What Constraints Financial Inclusion for the Transgender Community? Field-based Evidences from Odisha (India)

2020 ◽  
pp. 2455328X2092243
Author(s):  
Rajesh Barik ◽  
Pritee Sharma
Keyword(s):  
Financial Literacy ◽  
Financial Inclusion ◽  
Supply Side ◽  
Demand Side ◽  
Transgender People ◽  
Financial Exclusion ◽  
Bank Staff ◽  
The Status ◽  
The Government ◽  
Supply Side Factors

Among all the marginalized and stigmatized communities in Odisha, financial exclusion is high among the transgender community. This study discusses the status, importance and key challenges of financial inclusion among the transgender community of Odisha. This study tries to address the major constraints and challenges of financial inclusion among transgender community people in Odisha. To fulfil the above cited objective, in-depth interviews were conducted with 76 respondents. Additionally, the interviews were also taken from the transgender community’s president and secretary from two regions of Odisha (Cuttack and Bhubaneswar). This study points out that transgender people are deprived from accessing adequate financial products and services from the formal financial institutions. Both demand side and supply side factors are responsible for this exclusion. On the demand side, their low financial literacy and awareness, lack of proper documents to open a bank account, lack of individual interest and lack of formal employment are responsible. On the other hand, supply side factors involve unfriendly behaviour of bank staff and officers, less provision of legal documents from the government, less spread of information, less awareness programmes or financial literacy programmes among the transgender community of Odisha.

scholarly journals IMPACT OF FINANCIAL LITERACY ON INVESTMENT DECISIONS IN KACHCHH REGION OF GUJARAT STATE - A REVIEW OF LITERATURE

2019 ◽  
pp. 1-4
Author(s):  
Tarun K. Chowdhary ◽  
P. R. Patel
Keyword(s):  
Financial Literacy ◽  
Research Work ◽  
Investment Decisions ◽  
Well Being ◽  
Economic Security ◽  
Young Population ◽  
Review Of Literature ◽  
Gujarat State ◽  
The World ◽  
The Government

Today in the competitive nancial market, it is necessary that people should be nancially literate. The economy of our country is facing one such problem that is nancial literacy which is a major challenge faced by all the countries globally. Financial Literacy is the mix of one's knowledge, skill, ability and attitude towards nancial matters. Therefore, the need for nancial literacy has become inevitable. Ÿ Research from around the world reports inadequate Financial Literacy which raises serious concerns about the ability of individuals to secure their nancial well-being. Ÿ Country like India which has young population, the government is in a position to increase the level of nancial literacy through nancial education programs and launching of new programs. Ÿ Financial literacy goes beyond the provision of nancial information and advice. It is the ability to know, monitor, and effectively use nancial resources to enhance the well-being and economic security of an individual, his family, and his business. Ÿ This present research work is carried on with the objective to study the nancial literacy of individuals and its impact on investment decisions in Kachchh Region of Guajarat State

Financial Inclusion in India

2016 ◽  
pp. 95-104
Author(s):  
Rohit Bhattacharya
Keyword(s):  
Financial Services ◽  
Poverty Reduction ◽  
Significant Proportion ◽  
Financial Inclusion ◽  
Vulnerable Groups ◽  
Working Paper ◽  
Road Map ◽  
The Poor ◽  
Financial Exclusion ◽  
The World

The concept of Financial Inclusion is not a new one. It has become a catchphrase now and has attracted the global attention in the recent past. Lack of accessible, affordable and appropriate financial services has always been a global problem. It is estimated that about 2.9 billion people around the world do not have access to formal sources of banking and financial services. India is said to live in its villages, a convincing statement, considering that nearly 72% of our population lives there. However, a significant proportion of our 650,000 odd villages does not have a single bank branch to boast of, leaving swathes of the rural population in financial exclusion. RBI has reported that the financial exclusion in India leads to the loss of GDP to the extent of one per cent (RBI, Working Paper Series (DEPR): 8/2011). Financially excluded people, consistently, depend on money lenders even for their day to day needs, borrowing at excessive rates to finally get caught in a debt trap. In addition, people in far-off villages are completely unaware of financial products like insurance, which could protect them in adverse situation. Therefore, financial inclusion is a big necessity for our country as a large chunk of the world's poor resides here. Access to finance by the poor and vulnerable groups is a prerequisite for poverty reduction and social cohesion. Present paper is an attempt to highlight the present efforts of financial inclusion in India its future road map, its challenges etc.

scholarly journals Halal Money: Financial inclusion and demand for Islamic banking in Norway

2018 ◽  
Vol 5 (1) ◽  
pp. 205316801875762 ◽  
Author(s):  
Torkel Brekke
Keyword(s):  
World Bank ◽  
Research Program ◽  
Financial Inclusion ◽  
Islamic Banking ◽  
The West ◽  
Level Of Education ◽  
The World Bank ◽  
Financial Exclusion ◽  
The World ◽  
Muslims In The West

Financial inclusion is high on the agenda for governments as well as for organizations such as the World Bank. Research has pointed out that Muslims worldwide are less included in the formal financial system than non-Muslims, but there is no knowledge about the extent to which religious norms (most importantly the ban on interest on money) lead to financial exclusion among Muslims in the West. In this article I approach the issue of financial exclusion and inclusion through three interrelated questions that will be answered with data collected in Norway 2015 and 2016. The questions are: (a) To what extent do Muslims see conventional banking as a problem in their own lives? (b) Do level of education, age, national background or level of religiosity predict demand for Islamic banking? (c) Is demand for Islamic banking changing? This article is a first step in what should be a broader research program to find out whether and how religious norms cause financial exclusion of Muslims in the West.

THE STRATEGY TO ENHANCE THE SHARIAH FINANCIAL LITERACY AND INCLUSION IN INDONESIA (Case Study at Financial Services Authority Office in The City of Malang)

2017 ◽  
Vol 1 (1) ◽  
pp. 47
Author(s):  
Ma’rufa Khotiawan ◽  
Muhammad Luthfiansyah
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Financial Management ◽  
Financial Inclusion ◽  
National Strategy ◽  
Research Needs ◽  
Know How ◽  
The Government ◽  
The City

<p>The<strong> </strong>results of the survey of literacy and Financial Inclusion Shari'ah in Indonesia 2016 each show numbers 8.11 %  and 11.06 %. Whereas the inhabitants of the religion of Islam in Indonesia more than 85%. With this then needs to be formulated strategies that can increase the level of literacy and financial inclusion shari'ah in Indonesia. The importance of literacy improvement and Financial Inclusion Shari'ah to improve the behavior of the community in financial management and to improve the welfare of them. So that priorities are intended to know how the strategy applied to increasing literacy and Financial Inclusion Shari'ah. This research uses qualitative research method with the approach of the case study. The results of this research are some government policy that is contained in the form of National Strategy for Financial Literacy Indonesia (SNLKI) to improve financial literacy Shari'ah and inclusive Financial National Strategy (SNKI) to improve financial inclusion. But the next research needs to examined and monitored about various programs to increase shari'a literacy and financial inclusion is doing by the government.</p><strong>Keywords: </strong>Sharia Financial Literacy, Sharia Financial Inclusion, the strategy.

scholarly journals THE INTEGRATION OF DENTAL DETERMINANTS IN THE ACTIVE LONGEVITY PROGRAM

2019 ◽  
Vol 25 (3) ◽  
pp. 185-190
Author(s):  
R. Sh Gvetadze ◽  
V. D Wagner ◽  
G. E Amanaliti ◽  
Lyudmila E. Smirnova
Keyword(s):  
Quality Of Life ◽  
Dental Health ◽  
Social Activity ◽  
Well Being ◽  
The Elderly ◽  
World Health ◽  
Quality Health Care ◽  
The World ◽  
The Government

According to the World Health Organization, the elderly are the fastest-growing age group in the world. Scientists addressing the aging issue have put forward a theory of active longevity, based on improving the quality of life of the elderly. Most authors believe that the basis of a long life is an active and mobile lifestyle, a healthy diet, abstinence from bad habits, constant communication and affordable quality health care. Recently, in our country, government officials began to pay attention to the problems of longevity and improving the quality of life of senior and elderly people. The Government of Moscow adopted a decision of December 18, 2018 No. 1578-GO “On the implementation of the Moscow Longevity Project in the city of Moscow”, which provides for a permanent basis to create a system of organizing active leisure activities for senior citizens, expanding forms of social communications, further enhancing their life and longevity. Recent studies show that the quality of life of people in the elderly and senile age is closely related to their health and cannot be limited to biomedical parameters. It depends on an assessment of one’s life course, internal standards, and on effective social activity. Also, quality of life is correlated with factors such as the diet and nutrition quality, the ability to perform physical activities that help reduce the risk of developing chronic diseases and mortality. At the same time, the importance of dental health remains underestimated, despite the fact that healthy mouth organs and tissues are the main factors contributing to quality nutrition, performing an aesthetic role and serving as a symbol of a person’s well-being.

Revisiting the measurement of financial inclusion of rural smallholder farmers in Nigeria

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Olayinka O. Adegbite ◽  
Charles L. Machethe ◽  
C. Leigh Anderson
Keyword(s):  
Financial Literacy ◽  
Smallholder Farmers ◽  
Household Survey ◽  
Well Being ◽  
Sampling Procedure ◽  
Financial Inclusion ◽  
Policy Recommendations ◽  
Financial Capability ◽  
Content Type ◽  
Consultative Group

PurposeThis study aims to develop and apply a multidimensional measure of financial inclusion (FI) to address measurement issues and determine the level of FI of rural smallholder farmers and the contribution of domain indicators to the level of FI in Nigeria.Design/methodology/approachThe paper adapts the Alkire–Foster method to develop a multidimensional FI index (MFII). A stratified two-stage sampling procedure is used to select 2,300 rural respondents from the 2016 Consultative Group to Assist the Poor (CGAP) Smallholder Household Survey.FindingsResults indicate that 78% of rural smallholder farmers in Nigeria are financially excluded. In addition, owning a formal account is significantly different (p < 0.00) from being financially adequate. The financial capability domain contributes the least (29.66%) to the multidimensional FI (MFI) of rural smallholder farmers relative to financial participation and financial well-being. Financial literacy, consumer protection, overcoming barriers such as high transaction costs and financial planning indicators contribute the least to FI relative to formal access.Practical implicationsResults of the study lead to policy recommendations for increasing the FI of rural smallholder farmers in Nigeria, which may be applicable to other countries.Social implicationsAchieving sustainable FI requires that interventions increase the FI of rural smallholder farmers by strengthening financial capability, participation and well-being and not only focus on formal account owners.Originality/valueThe study provides a new methodological and empirical contribution to the FI literature on rural smallholder farmers.

Trust, financial literacy, and financial market participation

2021 ◽  
pp. 1-31
Author(s):  
Jill E. Fisch ◽  
Jason S. Seligman
Keyword(s):  
Financial Markets ◽  
Financial Market ◽  
Financial Literacy ◽  
Well Being ◽  
Retirement Savings ◽  
Willingness To Participate ◽  
Market Participation ◽  
Key Factors ◽  
Financial Market Participation ◽  
The Relationship

Abstract Willingness to participate in financial markets is important for financial well-being, including the accumulation of retirement savings through self-directed pension programs. We consider the roles of two key factors, trust and financial literacy in financial market participation. We find both are strongly related to participation. Although trust is more uniformly correlated with increases in financial market participation, the relationship between financial literacy and engagement is u-shaped, with increases in financial literacy first associated with reductions and subsequently with increases in the levels of participation. Our findings suggest trust and financial literacy play different roles and that each is related to investment behaviors in important ways.

scholarly journals Legislative and Other Selected Challenges Affecting Financial Inclusion for the Poor and Low Income Earners in South Africa

2020 ◽  
Vol 64 (3) ◽  
pp. 337-355
Author(s):  
Howard Chitimira ◽  
Menelisi Ncube
Keyword(s):  
South Africa ◽  
Low Income ◽  
Financial Services ◽  
Banking System ◽  
Financial Inclusion ◽  
The Poor ◽  
Financial Exclusion ◽  
Relevant Role ◽  
Legislative Framework ◽  
The Government

AbstractThis article discusses the challenges affecting the achievement of financial inclusion for the poor and low-income earners in South Africa. The concept of financial inclusion could be defined as the provision of affordable financial products and services to all members of the society by the government and/or other relevant role-players such as financial services providers. This article identifies unemployment, poverty, financial illiteracy, over-indebtedness, high bank fees, mistrust of the banking system, lack of relevant national identity documentation and poor legislative framework for financial inclusion as some of the challenges affecting the full attainment of financial inclusion for the poor and low-income earners in South Africa. Given these flaws, the article highlights the need for the government, financial institutions and other relevant stakeholders to adopt legislative and other measures as an antidote to financial exclusion and poverty challenges affecting the poor and low-income earners in South Africa.

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