Impact of Financial Literacy on Women’s Empowerment in Urban India

Impact of Financial Literacy on Women’s Empowerment in Urban India

Sneha Kumari {1}

MBA Student, CMS Business School, Bengaluru Email: Sneha_kumari23@cms.ac.in

Under the Guidance of:

Dr. Shrinivas Patil {2}

Faculty of Management Studies, CMS Business School, Bengaluru Email: dr.shrinivas_patil@cms.ac.in

Abstract
Financial literacy empowers women through providing necessary financial information and skills. The study has analyzed the impact of FL on women’s empowerment within Urban India. India’s financial service sector has been changed due to increased market complexity. There are only 33% of women who are investing with confidence while there are 64% of men who invests. Adopting the TPB (Theory of Planned Behavior) model is significant and can assist in predicting intentions along with accurate behaviour. This study aims to analyse the impact of financial literacy on the urban Indian women by a primary quantitative analysis of survey responses. The findings of the study indicate that the women who hold higher financial literacy levels exhibit a stronger control over finances and financial independence. This research concludes that building up financial literacy improves economic resilience, drives sustainable development of the society and fosters gender equality.