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The IUP Journal of Applied Finance
Financial Literacy and Financial Inclusion in Rajasthan, India: An Empirical Study
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The study aims to understand and assess the financial literacy, financial inclusion and awareness levels of common masses in Rajasthan, India. The study is descriptive in nature. It used a structured non-disguised questionnaire and probability cluster sampling methodology to collect data from 1,205 residents of Rajasthan. 30 clusters were selected for this purpose with a sample size ranging from 2 to 20 in each cluster. The findings reveal that most of the population in Rajasthan still trust banks more than any other financial institution and treat banks as the safest option to save their money. The study also focuses on the kind of training interventions required in Rajasthan towards financial literacy.

 
 
 

Financial literacy is the capability to analyze how money works in the market, how to manage or invest money to earn more and how to donate it to help others. Financial inclusion is ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups, such as weaker sections and low income groups in particular, at an affordable cost, in a fair and transparent manner by regulated mainstream institutional players.

 
 
 

Applied Finance Journal