PRE AND POST LEVEL OF FINANCIAL LITERACY OF SHG MEMBERS, IMPACT OF FINANCIAL LITERACY ON ECONOMIC EMPOWERMENT AND FACTORS DRIVING ECONOMIC EMPOWERMENT – A STUDY WITH REFERENCE TO CHIKKABALLAPURA DISTRICT, KARNATAKA

T. A. Prathap; K. Apsar Basha

doi:10.29121/shodhkosh.v5.i6.2024.3455

Authors

T. A. Prathap M.Com., B.Ed., (Ph.D.), Research Scholar, Annamalai University, Tamil Nadu
Dr. K. Apsar Basha M.Com., M.Phil, Ph.D., M.Sc.Lib., M.Phil., Assistant Professor, Department of Commerce, Kalinjar Karunanidhi Govt. Arts College, Thirvannamalai, Tamil Nadu

DOI:

https://doi.org/10.29121/shodhkosh.v5.i6.2024.3455

Keywords:

Financial Literacy, Economic Women Empowerment, Savings, Money Lenders, Self Confidence Independence, Freedom, Education, Risk, Finance

Abstract [English]

Purpose: The main intention of the present study is to know whether the demographic profiles impact on the study of financial literacy and women economic empowerment. Further, the study is also conducted to know the level of financial literacy of women SHG members before and after joining self help groups (SHGs), and to study the impact of financial literacy on economic women empowerment. Also further, the study conducted to know the factors impacting economic women empowerment, women studies reveal that unless and until women are developed their empowerment programs have no real meaning. Women empowerment has been noticed as a pre-requisite condition to reduce the level of poverty in developing nations (Aysha et al., 2018).

Methodology / Design: A well defined previously known questionnaire which was managed as schedule after knowing the constraints in collecting back questionnaires with their incompleteness and avoid. A total of 108 questionnaire where in the hard and out of this only 100 were usable one balance of questionnaires were rejected. Chi-square, contingency co-efficient, Kendall's co-efficient of concordance, weighted average and Impact of Financial Literacy Index (IFLI) quantitative techniques were performed. The participants of the study include SHG members of 6 blocks selected villages.

Findings: The present research work reveals that all the demographics are supporting the study and there exist significant variation in the data. The financial literacy has improved after joining SHGs. Factors of financial literacy impacting on ecommerce women empowerment includes in the order, women gains financial knowledge, road to economic empowerment and reduction in financial anxiety and stress. Further, the study also found about the factors driving women economic empowerment which includes in the order economic independence, savings formation and reduction in dependency on money lenders.

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