Financial Literacy as a Tool for Stimulating the Investment Behaviour of Rural Women: An Empirical Assessment

Clapping with two hands create the sounds. Similarly, investment and saving behaviour are considered as the most vital elements for economic growth of an individual. This paper is to evaluate the influence of financial awareness on saving and investment behaviour of rural females in India. Investment pattern serves as a link between savings and wants of the common people. Economic growth of any nation can be critically measured through capital accumulation and investment trends in financial markets. In the present study, the investment behaviour on effect of financial awareness of 335 rural women in Jalandhar district has been evaluated. The relationship of financial literacy and saving & investment behaviour is also evaluated in the context of five basic domains of financial behaviour, such as demographic variables, financial control, financial planning, financial product selection and financial literacy. Results of the study revealed that rural women are conscious about the availability of various investment avenues in the market, but their investment pattern is still followed by some factors like familiarity, safety and assured returns, etc. This study suggests policymakers to focus on financial awareness rather to focus only on financial literacy