Study of Financial Literacy and its Impact on Rural Development in India Evidence Using Panel Data Analysis

• Author(s): Rahul Singh Gautam ; Dr. Shailesh Rastogi ; Aashi Rawal
• Paper ID: 1703310
• Page: 483-492
• Published Date: 02-04-2022
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 5 Issue 9 March-2022

Abstract

The paper aims to examine the impact of financial literacy on financial inclusion and rural development in India. We take secondary data from 29 states and two union territories in India for three fiscal years, i.e., 2018 to 2020. The present study uses panel data analysis (PDA) to test the hypothesis. As per result, financial literacy positively impacts financial inclusion and rural development. The present study suggests that the banks and government should pay more attention to expanding financial literacy. It is an essential part of financial inclusion. Both are important for socio-economic development. It increases impressive economic growth and alleviates poverty, which can be accomplished by investing in infrastructure that improves banking services.

Keywords

Financial literacy, Financial Inclusion, Rural development, Banking, KCC.

Citations

IRE Journals:
Rahul Singh Gautam , Dr. Shailesh Rastogi , Aashi Rawal "Study of Financial Literacy and its Impact on Rural Development in India Evidence Using Panel Data Analysis" Iconic Research And Engineering Journals Volume 5 Issue 9 2022 Page 483-492

IEEE:
Rahul Singh Gautam , Dr. Shailesh Rastogi , Aashi Rawal "Study of Financial Literacy and its Impact on Rural Development in India Evidence Using Panel Data Analysis" Iconic Research And Engineering Journals, 5(9)