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Determinants of Financial Literacy Among Indian Youth

Determinants of Financial Literacy Among Indian Youth

Jehangir Pheroze Bharucha
Copyright: © 2021 |Pages: 14
ISBN13: 9781799880493|ISBN10: 1799880494|EISBN13: 9781799881018
DOI: 10.4018/978-1-7998-8049-3.ch030
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MLA

Bharucha, Jehangir Pheroze. "Determinants of Financial Literacy Among Indian Youth." Research Anthology on Personal Finance and Improving Financial Literacy, edited by Information Resources Management Association, IGI Global, 2021, pp. 565-578. https://doi.org/10.4018/978-1-7998-8049-3.ch030

APA

Bharucha, J. P. (2021). Determinants of Financial Literacy Among Indian Youth. In I. Management Association (Ed.), Research Anthology on Personal Finance and Improving Financial Literacy (pp. 565-578). IGI Global. https://doi.org/10.4018/978-1-7998-8049-3.ch030

Chicago

Bharucha, Jehangir Pheroze. "Determinants of Financial Literacy Among Indian Youth." In Research Anthology on Personal Finance and Improving Financial Literacy, edited by Information Resources Management Association, 565-578. Hershey, PA: IGI Global, 2021. https://doi.org/10.4018/978-1-7998-8049-3.ch030

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Abstract

The purpose of this study is to examine which factors actually determine the level of personal financial literacy among the youth in India's financial capital city. A total of 650 completed and returned questionnaires have been used for the purpose of this study. The data analysis uses descriptive statistics and multivariate analysis. The explanatory variables are gender, district of residence, educational level, father's educational level, employment, marital status, and parenthood. Findings of the study depict that having children is the most positively correlated (+0.327) with financial literacy. Education (+0.245) and employment (+0.140) are positively correlated with financial literacy. It is also concluded that females are less likely to have a high level of financial literacy (-0.271) compared to males.

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