An Analysis of Financial Literacy Among College Students in Rural Areas of Eastern Uttar Pradesh.

This study is based on Financial Literacy of college going students in the rural areas of eastern Uttar Pradesh. For this a study of 250 students of different colleges is conducted, and the motive behind this is to inspect the literacy level and the caliber to making an investment. Analyzing the financial literacy programs run by the government, colleges, regulatory bodies, NGOs or financial institutions. Also, to analyze their saving level of students for making an investment. And their seriousness for their future needs as per as investment is concerned. To analyze the situation, both Primary and Secondary data sources of research methodology is used. Descriptive study is carried out to identify the factors which impact on the investment decision. Chi-Square statistical procedure is used to evaluate the data regarding financial literacy of graduate students in the rural area. And found that level of financial literacy in the area is not appropriate and reported poor literacy rate. In the VISA (2012) study, India ranked at 23rd position out of the 28 countries surveyed. Apart from these, various initiative taken by the different financial regulatory bodies such as RBI, SEBI, IRDA, PFRDA, NCFE, etc., are not adhering their objective of imparting financial literacy. Student’s monthly savings is not enough for making investment. Lack of seriousness among students for their future income, which adversely impact on current financial literacy process. It is advised, that the government imparts financial literacy from primary school level, block level, panchayat level, so that positive outcome can be expected in future. [ABSTRACT FROM AUTHOR]