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FINANCIAL LITERACY IN INDIA

DOI: 10.9780/22315063

Keywords: Financial literacy , financial management and farm entrepreneur

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Abstract:

Financial literacy is gaining importance in recent years as number new products have been continuously offered in the financial markets. Whatever the type of business such as corporates, small business and family run business the financial management is vital important. Financial literacy enables the efficient financial management ultimately results in increased profitability and reduces cost. The global researchers indicated that, India is least financially literate country. Keeping these things in mind the Reserve Bank of India imitated financial literacy programs to improve the financial literacy of Indians. In case of agriculture the commercialized way of farming calls for farmers to act as entrepreneur. The farm entrepreneur should have enough financial literacy on financial planning, acquisition and allocation of finance to become successful in farming. Now very limited research has been done on the financial literacy of farmers in India. This paper call for research in financial literacy of farmer and its impact on farm productivity by emphasizing the importance of financial literacy in India

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