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VOL. 9, ISSUE 2 (2023)
Role of financial literacy in achieving financial inclusion
Authors
Roopam Kumari, Devchand
Abstract
The inclusive growth of an economy and its
residents depends critically on financial literacy. financial inclusion goal
begins with financial literacy. As the supply side of financial inclusion,
financial literacy can be considered as the demand side. It is regarded as an
essential ally for advancing financial inclusion, financial development, and
eventually financial stability. Since financial markets have grown more complex
and the average person finds it extremely difficult to make educated decisions,
it has taken on more relevance in recent years, especially since 2002. The
present study focuses on determining the relationship between financial
literacy and financial inclusion. The data from 80 respondents were collected
to analyse the awareness regarding various financial products and it was found
that people who have a strong grasp of financial principles are able to
understand money matters and they were aware of various financial products, but
a very large number of respondents were unaware about microfinance loan and
mobile banking facilities. So, to make wise financial decisions, people must
have financial literacy.
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Pages:80-82
How to cite this article:
Roopam Kumari, Devchand "Role of financial literacy in achieving financial inclusion". International Journal of Commerce and Management Research, Vol 9, Issue 2, 2023, Pages 80-82
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