Assessing Financial Literacy Levels of Banking and IT/ITes Employees
P. Shanmugha Priya1, R. Vishal Kumar2
1Dr. P. Shanmugha, Assistant Professor, Happy Valley Business School, Anna University, Chennai (Tamil Nadu), India.
2Dr. R. Vishal Kumar, Associate Professor, Department, Finance, Happy Valley Business School. Chennai (Tamil Nadu), India.
Manuscript received on 18 June 2019 | Revised Manuscript received on 25 June 2019 | Manuscript published on 30 June 2019 | PP: 1287-1292 | Volume-8 Issue-5, June 2019 | Retrieval Number: E7154068519/19©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: For a country poised to become the world’s thirdlargest economy by 2035 (Goldman Sachs), research studies found that Indians exhibit very poor knowledge of how to manage their personal finances. A study by Max Life-NACER finds that Indians fail to take a long-run perspective personal of their financial security thereby savings for their old age unimportance. Ahuvalias M.S (2006) in a survey said, “Indians are wise savers but poor investors”. To achieve financial well being the individual should be financially literate. This research paper results reveals that respondents working in banking exhibit higher levels of financial literacy than the IT/ITes sector employees. The paper also suggests various measures to be taken by the authorities to enhance the financial literacy levels of individuals, which in turn improves their investment decisions.
Keywords: Financial Literacy, Investment Decisions
Scope of the Article: Industrial, Financial