Financial Literacy of Himachal Pradesh “A Case Study of District Kangra”

Abstract

Financial Literacy plays an indispensable role in inclusive growth of an economy and its citizens. The present study focuses on determining the financial literacy (Knowledge) of people living in Kangra district. The data from 200 respondents was collected and it found that the majority of the respondents are Govt. employees and Salaried (private) and rest of the respondents are agricultural labourer and self employed (agriculture). The respondents were asked about different questions related to financial products or instruments like Bank account, Investments, saving Bank Deposits, Post Office Saving Schemes, Mutual Funds, Life Insurance, Stock market etc. to determine the financial knowledge (literacy) of the respondents. The study also measured the relationship between demographic, socio economic, cultural profile of respondents and financial literacy using Chi square test