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A STUDY ON ‘ROLE OF FINANCIAL LITERACY IN WOMEN EMPOWERMENT AND FINANCIAL INCLUSION IN DEVELOPING ECONOMIES DURING COVID-19 PANDEMIC OUTBREAK’

    Dr Somanchi Hari Krishna
    Associate Professor, Business Management, Vignana Bharathi Institute of Technology Aushapur Village, Ghatkesar Mandal, Medichal Malkajigiri Dist -501301, Telangana Pincode- 501301, Medichal Malkajigiri Dist, Telangana, India E-mail ID – harikrishnasomanchi@gmail.com Orchid id- 0000-0002-3221-85955
DOI: https://doi.org/10.5281/zenodo.7051546

Abstract

The population of India reached to 1.39 billion in January, 2021. Out of total population, 48.0% were women while 52.0% were men population. 35.20% population lives in urban areas while 64.80% population in rural parts of country. As indicated by the report directed by the Global Financial Literacy Excellence Center, just 24% of the Indian grown-up populace is financially educated. In contrast with other major arising economies, the financial literacy pace of India is the most minimal. This is because of between state inconsistencies, absence of formal preparing and mindfulness. While other arising economies have better financial literacy rates, there's still extension for greater enhancement. The need for financial literacy has become more important than ever inside the setting of pandemic COVID-19 x outbreak. The majority of people belong to middle-class. They have been facing financial challenges due to loss of job, lockdown series, liquidity, heavy medical expenses, inappropriate investment patterns, casual approach towards saving etc. The present condition of women is more challenging than ever in this context. The paper examines the present scenario of financial literary and explores the scope of application to empower women in creating economies like India.

Keyword : Women Empowerment, Financial Literacy, Inclusion, Covid-19, etc.

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Sep 06, 2022
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