Business, Management and Accounting
3 years ago

Semi-formal financial literacy training leads to higher borrowing rates in India.

1 view
Strategic Change
Impact of financial literacy models on the financial behavior of individuals: An empirical study on the Indian context
Purushottam Vishnu Bhandare, Samapti Guha, Rimita Hom Chaudhury, Chandralekha Ghosh

Paper Summary

Financial literacy training programs in India have different effects on people's financial behavior. Those who took part in semi-formal training are more likely to borrow money, while those in formal training are more likely to get insurance. People in semi-formal training are happier with their finances than those in formal training.

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