Financial Literacy an apparatus to Woman Empowerment

Abstract

From the ancient time in India women were given special honour. But value towards women varied during different time-period. In India we are realizing to support women even after 69 years of independence. Our ranking is very poor in Gender Inequality Index (GII) i.e. 130 rank, as per human development report 2015, at a same time women workforce participation, in India is also drastically declined. Woman empowerment can be done thorough increasing financial literacy among women in India and to change current scenario. This paper is an attempt to study partaking of women in financial decision, their financial literacy and various factors affecting their involvement in Investment Decision. For this study we have collected primary data from 200 women respondents using convenience sampling method, using structured questionnaire through personal and mail survey method. Pearson chi-square test is mainly used to check significance relation between involvement of women in investment decision and various demographic factors. In our results we found that women investors are risk averse, they prefer gold and post office schemes while investing. But astonishingly they found reluctant towards life insurance. Their major reasons for less taking part in investment decision were lack of knowledge as well as lack of their interest. They were found more arousing towards family while get involved in investment decision and various demographic factors like education level, occupation and income level, which were found significant relevant to their involvement in investment decision.

Keywords: Women Empowerment, Financial Literacy

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