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IMPACT OF FINANCIAL LITERACY ON THE INVESTMENT BEHAVIOUR OF WORKING INDIAN WOMEN
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DR. KRISHNA MURARI ASSOCIATE PROFESSOR
I Srishti Khare Roll No. 226279 hereby declare that the Dissertation Project Reporttitled “Impact of Financial Literacy on the Investment Behaviour of Working Indian Women” is submitted by me in partial fulfilment of the requirement for the award of the degree of Masters of Business Administration under the guidance of Dr. Krishna Murari (Associate Professor) I confirm that this Report has not been submitted to any other University or Institution in full or in part for the award of any Degree or Diploma. Place: Lucknow Date: 30-04-2024 Srishti Khare
I would like to express my deepest gratitude to all those who have contributed to the completion of this dissertation on the Impact of Financial Literacy on the Investment Behavior of Working Women. First and foremost, I am immensely thankful to my supervisor Dr. Krishna Murari ( Associate Professor) Department of Management Studies for their unwavering support, invaluable guidance, and scholarly insights throughout this research journey. Their expertise, encouragement, and constructive feedback have been instrumental in shaping the direction and quality of this study. I am also grateful to the participants who generously shared their time and insights, without whom this research would not have been possible. Their willingness to participate and provide valuable information have enriched the findings of this study and contributed to its relevance and applicability. Furthermore, I extend my appreciation to my family and friends for their unwavering support, encouragement, and understanding during the challenging phases of this dissertation. Their words of encouragement and belief in my abilities have been a constant source of motivation and inspiration. SRISHTI KHARE MBA 2nd Year, 4th Semester ROLL NO- 226279
1.1 Introduction 1.2 Conceptual Framework 1.3 Research Problem
2.1 Literature Review 2.2 Research Gap 2.3 Objectives Of the Study
3.1 Research Design 3.2 Sampling Design 3.3 Methods of Data Collection
5.1 Conclusions 5.2 Implications 5.3 Scope for further Studies
This research delves into the world of cryptocurrency from the perspective of management students, aiming to uncover their awareness levels, attitudes, and investment behaviors towards this emerging asset class. By examining existing literature and conducting a survey among management students, this study sheds light on the factors influencing cryptocurrency awareness, information sources, investment motivations, and risk perceptions. The findings reveal a mixed landscape of cryptocurrency awareness among management students, with varying levels of knowledge and interest. Factors such as gender, education level, and exposure to educational initiatives play significant roles in shaping students' understanding and willingness to invest in cryptocurrency. Additionally, the study identifies the sources through which students acquire information about cryptocurrency and highlights the need for targeted educational interventions to enhance financial literacy in this domain. Implications of the findings underscore the importance of tailored educational programs, regulatory clarity, and industry partnerships in fostering responsible cryptocurrency investmentamong management students. Furthermore, the research identifies avenues for future studies, including cross-cultural comparisons and longitudinal analyses, to deepen our understanding of cryptocurrency adoption and its implications for financial markets. In conclusion, this research contributes to bridging the gap in cryptocurrency literacy among management students and provides valuable insights for educators, policymakers, and industry stakeholders. By empowering students with the knowledge and skills to navigate the cryptocurrency landscape, this study paves the way for informed decision-making and ethical leadership in the digital economy.
The role of women in the workforce has evolved considerably over the years, with more women taking on active roles in various sectors. This trend has also brought attention to the financial independence and investment capabilities of working women. However, despite advancements, there are still challenges and disparities that hinder women from fully harnessing their financial potential. Financial literacy encompasses knowledge and skills related to financial concepts, products, and strategies. It enables individuals to make informed financial decisions, including investment choices, budgeting, and risk management. For working women in India, enhancing financial literacy can empower them to effectively manage their finances, plan for the future, and achieve financial goals. Investment behavior refers to the patterns, preferences, and decisions individuals make regarding investment opportunities. Understanding how financial literacy influences the investment behavior of working women is crucial for identifying barriers, designing targeted interventions, and promoting financial inclusion. This study aims to explore the impact of financial literacy on the investment behavior of working women in India. By examining factors such as financial knowledge, risk perception, investment preferences, and long-term financial planning, this research seeks to contribute valuable insights to the ongoing discourse on women's financial empowerment and economic resilience. Financial literacy is the combination of financial skills, knowledge, attitude, awareness. It helps in the long-term financial planning, investment, asset building and wealth creation (Tamimi and Kalli, 2009) Lack of financial literacy leads to conditions of extreme poverty, debt defaulters, dependence on others for financial matters and inability to utilize funds. Risk is an important factor which needs to be concerned while making wise investment choices. It is therefore seen that the investor considers the relationship between the rate of return and risk level of the financial investment tools. The financial risk tolerance of individual investors influences their choice of financial products and services and the use of their wisdom in financial markets. By Financial risk tolerance we mean the maximum amount of uncertainty faced by the investors while making a sound financial decision. Individual financial risk tolerance gets impacted by the social, ethical, financial, cultural, physical factors. Financial literacy is an important factor to assess financial risk tolerance. Financial literacy uses financial skills, knowledge and education so as to be financially viable and sound. Various
new schemes of investment are available in the market for providing investment opportunities to the investor so that they can plan their future requirements and can also better utilize its savings by generating more returns. Financial literacy has always proved to be a significant factor for making sound financial decisions by the investors (NSFE, 2012). I. This study has been done to find out the financial literacy level of females working in the unorganized sector. Women working in the unorganized sector due to shortage and instability of money seriously affects retirement planning, saving and other crucial decisions. This study is conducted to explore the impact of financial literacy on the risk tolerance behavior of females. Many investors are only investing in secured investment tools to avoid loss and a situation of extreme debt and poverty. A very small segment of investors invests in capital market instruments due to lack of financial literacy and risk intolerance. Financial literacy not only broadens the scope of investment choices and financial planning but also helps in the process of rotating money and diversification of funds. This study helps to explore the impact of financial literacy on risk tolerance behavior of females. Risk tolerance is an important indicator which helps in looking at the amount of surplus funds with the people, the preferred tool of investment and how well they are managing and diversifying funds.
Financial literacy is the ability of a layman to understand the nature of finance and earning potential of his savings. In true sense, financial literacy allows a person to take a rational financial decision in specific areas like property or real estate matters, tax planning, banking and insurance and capital markets etc. To achieve financial goals, basic knowledge about financial matters becomes the essential part of today’s world; not only for the investors of stock market; but also for the persons having saving habits. It can be defined as the tricks used by finance player to manage their earnings in terms of savings, budgeting, investing and insuring etc. Definition of financial literacy also declares that financially knowledgeable people are well aware about money management concepts and know in which manner financial institutions work.
In a developed country respective term has gained more devotion than a developing nation. It is nothing but skills and knowledge of a person to make sound financial decisions. It is ability of a saver to make rational investment decisions for current and future gains. A financial literate person can outline his limited income around routine activities, basic needs of life and retirement plans in a most profitable manner. It meant different for individuals. For a tax payer it might be related to knowledge about use of taxation loopholes and for an investor it might be related to information about available investment avenues. It is core life skill every saver needs to run his business in a proactive way. Financial literacy is important for sustainable growth of any nation. Financial literacy has gained more importance in resent decade. Because financial markets are expanding their business according to the investment and saving needs of financiers. As per the census report 2011, 69% of Indian population lived in rural part. Corporate houses and home teamers of capital market daily introducing new products to visitors. But majority of rural population prefer to invest in banking, post-office and insurance avenues. That is why financial intermediaries are recognising importance of financial education. Literature of financial literacy evidenced that information gap between financial markets and a common saver is issue of discussion for the issuers of financial products. Financial literacy is based on four pillars
program is to provide knowledge to potential investor about financial terms and basic financial matters. Theses awareness programs help investors to understand investment needs and current state of market. Government and non- government agencies are stepping to make investors financially literate. n recent years, India has witnessed a significant transformation in its economic landscape, marked by the increasing participation of women in the workforce across various sectors. This shift not only reflects a positive trend towards gender equality but also underscores the crucial role that women play in driving economic growth and stability. However, alongside this progress, there remains a critical aspect that requires attention and exploration the impact of financial literacy on the investment behavior of working women. Financial literacy, defined as the knowledge and understanding of financial concepts and products, is a fundamental pillar of economic empowerment. For working women in India, who often face unique challenges and opportunities in managing their finances, acquiring financial literacy becomes not just a necessity but a pathway to financial independence and security. The investment behavior of women, particularly in a country like India with its diverse financial landscape, is influenced by various factors such as cultural norms, societal expectations, and access to financial education. Understanding how financial literacy shapes the investment decisions of working women is not only pertinent from an individual perspective but also holds broader implications for economic development and inclusive growth. This study aims to delve into the intricate relationship between financial literacy and investment behavior among working women in India. By examining the factors that influence financial decision-making, assessing the level of financial literacy among women professionals, and exploring the impact of financial education initiatives, this research seeks to provide valuable insights into empowering women to make informed and effective investment choices. Through a comprehensive analysis of existing literature, empirical data, and case studies, this study endeavors to contribute to the ongoing discourse on financial inclusion, gender equality, and economic empowerment. By shedding light on the nexus between financial literacy and investment behavior, it aims to advocate for policies and programs that enhance financial
driven by several factors, including changing societal attitudes, economic opportunities, and policy initiatives aimed at promoting gender equality and women's empowerment. Despite these advancements, working women in India continue to face challenges and barriers that affect their financial literacy and investment behavior. These challenges may stem from cultural norms, limited access to financial education, unequal opportunities, and systemic biases in financial institutions. As a result, there is a need to understand the specific factors that influence financial literacy and investment decisions among working women and to develop targeted interventions to address these challenges. One of the key drivers of financial literacy among working women is access to quality financial education and information. Financial education programs play a crucial role in equipping individuals with the knowledge and skills they need to make informed financial decisions. These programs may cover a range of topics, including basic financial concepts, investment strategies, retirement planning, and risk management. By providing working women with access to such programs, policymakers, employers, and civil society organizations can empower them to take control of their financial futures. Furthermore, financial literacy is closely linked to broader issues of gender equality and women's empowerment. Studies have shown that increasing women's access to financial resources and knowledge not only enhances their economic independence but also has positive ripple effects on their families and communities. Empowering women financially can lead to better health outcomes, improved educational opportunities for children, and greater overall prosperity. In this Project, we will explore the relationship between financial literacy and investment behavior among working women in India. We will examine the factors that influence financial literacy levels among working women, the impact of financial education programs on their investment decisions, and the role of societal norms and institutional factors in shaping their financial behavior. By doing so, we hope to contribute to a deeper understanding of how financial literacy can empower women and drive economic progress in India.
Financial literacy encompasses a range of skills and knowledge related to managing money, understanding financial products, and making informed decisions. For working women,
financial literacy is not just about balancing a checkbook; it is about navigating the complex world of investments, savings, and retirement planning. Let’s delve into how financial literacy influences investment behavior
Despite progress, Indian women encounter several challenges
