A study of Awareness of working women regarding

Financial literacy and Financial Planning

in Mumbai Region

A THESIS SUBMITTED TO

THE SHRI JAGDISH PRASAD JHABARMAL TIBREWALA UNIVERSITY

FOR THE DEGREE OF

DOCTORATE OF PHILOSOPHY

IN MANAGEMENT

BY

SANDEEP PANDYA

REGISTRATION NO. 28216087

UNDER THE GUIDANCE OF

DR. L.M.DANI

DR. RIYASAT PEERZADE

DEPARTMENT OF MANAGEMENT

SHRI JAGDISHPRASADA JHABARMAL TIBREWALA UNIVERSITY,

VIDYANAGARI, JHUNJHUNU RAJASTHAN – 333001

YEAR 2017

1
 INDEX

Serial Page
TITLE
No. Numbers
1 Title Page 1

2 Statement of Candidate 2

3 Supervisor credential for my work 3

4 Acknowledgement 4

5 Abstract 5

6 Table of Contents 7

7 Figures 9

8 Tables 11

9 Abbreviations 12

Chapter 1.Preamble
1.1. Introduction 13-45

1.2. Problem Statement 46

1.3. Rationale 47

10
1.4. Research Objectives 48

1.5. Research Hypothesis 49

1.6. Purpose of the study 51

1.7. Target group of study 53

1.8. Expected Outcome of the

60
study

1
 1.9. Structure of Thesis 65

11 Chapter 2. Review of Literature 67

12 Chapter 3. Research Methodology 109

Chapter 4. Data Analysis and Findings 120

4.1.Survey of Individuals 144
4.2. Survey of Bank Employees
13 176

4.3. Analysis of Personal Interview 192

14 Chapter 5. Case Study 201

15 Chapter 6. Results and Discussion 263

Chapter 7. Summary and Conclusion

266
16
7.1. Suggestions and
Recommendations 272

7.2. Further Study and Research 290

7.3. Limitation of Study 292

7.4. Contribution of the Research 293

7.5. Utility of Research 298

17 References and Bibliography 299

Appendix: Questionnaire for Individuals 303

18
Appendix: Questionnaire for Bank 305
Employees

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 Chapter 1 Preamble
1.1 Introduction

In the present changed budget, the money related choices that identified with
survives of people pass their basic leadership expert from nations to people.
In any case, differentiating and creating money related markets like capital
and subordinate markets make it more troublesome for people to give choices
about their feasible arrangements. Other than the fundamental money related
issues, for example, expansion and premium computations, propelled
inquiries regarding operational structure of monetary markets, security,
treasury bonds, shares and resource broadening is utilized to quantify the
level of monetary education levels of people. People with a specific level of
monetary proficiency; contribute intensely on shares which are one of the
mind boggling and long term capital market instruments. It is likewise realized
that, speculators with high level of monetary proficiency who takes an interest
in securities exchanges profits by higher premiums, decreases data and
exchange costs and furthermore prevails to diminish chance by making a
more broadened range of investments. Other than that, people with low
money related education levels depended intensely on the guidance of
individuals who around them while settling on choices on savings.
New investigations demonstrate that the monetarily created nations also need
little glassy money related proficiency. Also, members in these examinations
distinguished as sensibly modest about money related matters. It is realized
that people with low level of money related education and unreasonable trust
in monetary issues are more inclined to settle on wrong monetary choices that
will result in high misfortunes. On the other hand one reason to this condition
is full scale intensity encounters of the people.

Monetary entitlement is a blend of person's learning, capacity, abilities and

certainty for dealing with her own monetary prosperity. Progressively, people
are in charge of their own money related proficiency and experienced with
complex coordinated monetary instruments. The motivation behind this
investigation is to feature the key builds including money related proficiency,
monetary state of mind, monetary prosperity and monetary entitlement and
1
afterward display the effect of monetary education, money related demeanor
and monetary prosperity on the monetary entitlement. The consequences of
this examination demonstrate that monetary proficiency, money related state
of mind and monetary prosperity are emphatically and altogether identified
with monetary entitlement. Higher the level of money related education and
positive monetary demeanor in ladies, more prominent will be the monetary
prosperity and eventually increment ladies' strengthening. Monetary
entitlement is observed to be influenced by age, training, wage level, conjugal
status calling, saving schemes and venture conduct. Huge distinction in
monetary entitlement was found based on age and conjugal status of the
respondent. At long last, comes about uncovered that the nearness of money
related education, positive monetary demeanor and monetary prosperity is
vital for the monetary entitlement of working ladies.

A few contrasts happen in people prosperity glassy as per their monetary

education. Due to this reason, people with higher monetary education are
investing their funds to stock and share markets with higher premium. Also,
monetary proficiency is recognized in very low levels among some types of
group, for example, ladies, some minority bunches among society and
persons with low level of learning and coaching. This circumstance that leads
family to a disappointment in retirement arranging, absence of interest in the
share trading system and awful obligation conduct may settled with essential
level of learning and coaching which is related to monetary.
Where from money comes and how it is utilized is the question which every
prudent person should ask the right source. Earning money is related to the
ethical aspect of life where as appropriate spending is related with judicial
aspect of life. Financial and economic literacy helps a person to enjoy the
right benefit of the money he has earned and he has spent, therefore
cultivation a right approach towards the financial literacy has become the
need of our modern society

2
To analyze the idea of the study we need to understand the following
working definitions:
Monetary Education
Till current period, very slight evidence and agreement made with meaning
and the theoretical representation with regards to monetary education. To
make sure there is uniformity with respect to this study and other earlier
studies made, we will define the expression of "monetary education" in
accordance with the subsequent explanation: ‘It is the ability and
competencies required in combination with attentiveness, understanding,
approach and activities necessary to make conversant and valuable decisions
of one’s monetary possessions and ultimately achieve lifetime monetary
protection.’

Along with the description, it creates the impression that individual attributes,
for example, subjective capacity (especially acquirement), identity write, and
inclinations may influence money related information and abilities securing,
characteristic inspiration and certainty to settle on considerable monetary
choices and consequently affect on levels of monetary education. Studying by
practicing produces an inward input circle – people refresh their insight,
aptitudes, inspiration and certainty with more money related understanding.
An absence of monetary education, in this manner, all else measure up to,
can both prompt and emerge from contrasts in chances to pick up information
and presentation to monetary issues.

Monetary Preparation
Money related Development is the way toward evaluating the capital required
and deciding its opposition. It is the way toward surrounding monetary
strategies in connection to acquisition, speculation and organization of assets
of an undertaking.

As rule utilization, a monetary arrangement can be a monetary strategy, an

arrangement for spending and save up for the earnings in the upcoming life.
This arrangement apportions upcoming payments to different kinds of costs,
for example, lease or services, and furthermore holds some wage for longer
3
and smaller period of investments. A monetary arrangement can likewise be a
speculation design, which distributes funds to different resources or ventures
anticipated that would create future wage, for example, another business or
product offering, shares in a current occupation, or land.

Training for money related Planning:

For maintaining and expanding the abundance of every person, it is vital that
he/she has what it takes to deal with his monetary means. To view
himself/herself as fiscally able, he/she needs to know how to oversee
individual or so to state family funds. He needs to be able to design ahead of
time, to get educational choices connected to monetary items/benefit.
Contingent upon the extent of his needs, he should screen all the news which
is connected to the monetary market. Else he would confront issues identified
with poise, deferring, and transient harshness of wishes, points, intensions
and genuine needs. There would likewise be issues in influencing a money
related system and choosing a reasonable monetary item/to benefit.

Basic topics identified with monetary instruction packages are the means by
which to manage right utilization of cash, for instance how to utilize a ledger.
Taking after the abilities of managing accounts this incorporates how to
manage financial status and obligations. The spheres, for example, store,
sparing, retirement, protection and to adapt to hazard don't rank up high,
subsequently there would be somewhat more commitment obligatory. The
objective gathering there are a comparable assortment of projects implied for
children, youthful and grown-ups. It looks that simply a few plans are intended
to be for extra particular groups like for example the plan for the gathering
inside the years while superannuation, ladies, ethnic minorities or people with
low monetary profit. Deficient comprehension will bring about inadmissible
decisions or turns away the purchaser from administrations identified with
back therefore they simply maintain a strategic distance from it as they are
frightful of the many-sided quality.

The landing of a few monetary and financial changes, the extent of the whole
arcade is widening. Spic and span monetary items are being presented in the
4
arcade that encourages people to design and contribute their funds
deliberately. Money related arranging is essential for the fiscal security of a
person. Albeit monetary arranging is very much suggested, countless neglect
to stay aware of the money related education particularly ladies and
furthermore the level of monetary proficiency for ladies isn't being archived
legitimately. Thus, there is a want to comprehend in detail the issue identified
with ladies money related education in India. There is a perception made that
in spite of the equivalent forces given to men and ladies for taking money
related choices, there are numerous ladies in India who are as yet confronting
various social, mental, fiscal and genuine deterrents which are prompting
troubles in increasing financial learning. A ton of estimations are taken by the
legislative and different offices to fiscally teach the majority and gatherings of
individuals, yet there are holes between the levels of men and ladies as far as
money related information. Since these holes hold on amongst men and
ladies, more specific fiscal training must be begun and making of new
colleges must happen to instruct more number of ladies. This will make the
female gathering more confident and special and will enable the country to
develop.

There are regularly doors open for instruction denied for ladies and young
ladies in numerous parts of the continents. In the event that there is absence
of instruction among ladies and young ladies it restricts the monetary
headway, puts them at a danger of misuse and trading, bounds ladies to
support the family wage. Instructing ladies and young ladies is a compelling
method to enhance existence of relations too brings financial improvement. It
enables young ladies and ladies to enhance their individual lives, their family
lives and their encompassing groups. Access to fundamental training causes
them to settle on better educated choices about their future and impact group
alteration.

Ladies' training is important in the advancement goal and to analyze

suppositions of their development with the assistance of approaches, projects
and undertakings outlined by different organizations. Numerous associations,
government organizations and worldwide foundations are centered on the
5
training and improvement of ladies over the globe. The presumptions made by
them are that teaching ladies will enable them to comprehend their
circumstances; understand their privileges and what aptitudes they possess.
Ladies assume essential liability in bringing up kids, to settle on imperative
and every day choices about the designation of family assets, and to have a
noteworthy part in the transmission of money related propensities and abilities
to their youngsters. Thus, they need satisfactory money related abilities for
themselves as well as for who and what is to come. Approximately one fourth
population of ladies in business worked low maintenance, contrasted with just
a smaller number of utilized men. In dedicated workers, ladies earned by and
large fifteen percentages not as much as men. As ladies additionally live
longer than men, but then have shorter working lives and lower normal wages
from which to put something aside for seniority, they should be adequately
fiscally educated to deal with the greater money related dangers that they
confront. The intricacy of money related markets is expanding, and ladies
need to secure the monetary information, certainty, and aptitudes to viably
take an interest in monetary exercises and monetary basic leadership, both
inside and outside their family units.

Money related achievement is required not exclusively to improve ladies'

administration of their own and family unit accounts, however together to
enable the participants to adjust on and get to material monetary
administrations and items, additionally on create and oversee business
exercises. In exclusively young ladies appear unseen towards education and
less inquisitive about fund related issues than male population;
notwithstanding they're together less guaranteed than men each in their
monetary data and their monetary abilities, especially in regard to confounded
money related issues.

Sexual variances varieties stretch out to monetary conduct. Ladies appear to

be advanced as compared to males at monitoring their funds. In any case,
ladies apparently be a ton defenseless than males in a few parts of monetary
conduct, together with making a decent living, sparing, and choosing money
related items. Ladies are a great deal apparently than men to have issues in
6
covering everyday costs and tend to interface in a few routes for making a
decent living. Ladies furthermore have a tendency to abstain from
squandering littler measures of cash than male, especially for superannuation.
In creating nations, ladies are more apparently than men to abstain from
squandering of cash. At last, once choosing a monetary item, ladies are more
outlandish than males to purchase, settle on required acquainted money
related decisions, and utilize independent counselors.

Accessible evidence recommends that sex variances in financial data and

money related conduct, especially as far as making a decent living and
sparing, are mostly connected with financial varieties amongst men and
ladies, and particularly to their lower livelihoods. This implies ladies' cash
shortcomings are a result of higher limitations that ladies confront pertinence
with men in getting to financial and fiscal open doors, still on bring down
monetary expertise. This involves arrangements tending to sexual orientation
imbalances each in monetary open doors and in money related expertise as a
strategy to support ladies' financial prosperity. However strategy producers
and partners in a few nations have officially recognized the necessity to deal
with sex varieties in monetary expertise and have begun creating focused on
money related training activities.

Even today, huge assortments of partners in more than 50 nations across

have authorized financial training approaches and activities tending to the
prerequisites ladies and young ladies. Majority activities have basic strategy
needs, including:

• Speaking necessities of particular groups in the women segment, as more

youthful and more seasoned ladies, ladies who have low livelihoods and
zones are avoided from official financial item and administrations, and in
addition female little and miniaturized scale business people.
• Refining ladies' courses in tending to money related issues, particularly
finished ladies' financial incorporation and utilization of prescribed sparing
item, forestalling over-obligation, portion to ladies getting ready for
superannuation, and backing woman business.

7
Importance of Monetary Education in Indian Country
The monetary arrangement of a nation assumes an important part in the
expansion and advancement of a country. India experiences low exchange
commitment, predominantly because of absence of fiscal instruction in group.
In the motivation of monetary obtaining, it's legitimately been stated, "Money
related procurement must be inserted in lifespan. Anyone who procures a
monetary profit might be a potential saver; every investor might be a potential
entrepreneur and every industrialist should be fiscally instructed." Indians are
tormented by money related ailments like investing less in protecting assets,
obligation trap, poor retirement supports and low rate of profitability – the
greater part of that is made owing monetary lack of education.

Clients should be fiscally instructed to have the capacity to see the money
related world and construct modern determinations which will be productive.
When examination and assessment of money related items, the benefactor
should be mindful to the basic terms of fiscal souks and along these lines the
most recent patterns to deal with their investment funds. Advancements and
developing many-sided quality of financial items is including gigantic weight
and obligation the shoulders of money related speculators, giving the clients a
bunch fiscal items and administrations, rendering the majority uninformed of
the reserve of financial administrations available to them. Since the monetary
souks have turned out to be also refined and augment their extension,
monetary instruction is transforming into basic to affirm the smooth working of
the money related souk.

It is watched that there have been various civil arguments about sexual rights
from numerous decades in our country. The greater part of such verbal
confrontations are with respects position of ladies in the general public, their
instruction, wellbeing, financial place, sexual orientation equity and so on.
Generally, ladies in India have constantly held a verifiable and apparently silly
position. With the developing and modernized society, ladies have gradually
begun to perceive their actual potential and are vanquishing in each field, for
8
example, legislative issues, sports, diversion, writing, innovation.
Notwithstanding this changing society there are as yet certain zones where
ladies are as yet falling behind men. One such zone is "Individual Monetary
Preparation'. It has been seen that ladies are innately better cash
administrators on a little scale the extent that their family unit costs and
investment funds are concerned. Disregarding this reality numerous ladies,
including working ladies, appear to be agreeable in giving ceaselessly their
long haul funds and retirement intending to their fathers or life partners. As
such, the effectiveness they show in overseeing home accounts isn't getting
reached out to their own monetary front. The real explanation for such issue is
the absence of monetary proficiency among ladies.

India has approximately 50% women in the total population of the country but
only rest of the 50% is allowed to take financial decisions in most cases.
Moreover, there are many theoretical arguments that support that ladies ought
to be monetarily literate to require explanation for financial selections. Such
arguments are:
Higher Liveliness Prospect: With the assistance of a study conducted,
transversely in many nations depicting a mix of emerged and rising countries
clearly exhibits that on an average women live 5 years longer than men.
Hence, it's essential that women ought to develop an in-depth understanding
concerning the thought of monetary and economic designing and investment
avenues to shield her from the financial challenges she might face within the
future. It’s been discovered, in the states of America and other nations it was
evaluated in emerged nations that old aged unmarried females who are below
poverty lines in comparison to old aged unmarried males and other old aged
married people. Hence, lack of knowledge can often be a lot expensive for
women as a result of they have a tendency to live longer.

Financial Development: The overall development of the nation and

enhancement of the liquidity in the market as well as to improve the scope of
trade in the economy requires women investors also. This is only possible if
women have enough financial knowledge.

9
Self-Sufficiency: It is important for women to get acquainted themselves with
the investment world so that they can be monetarily self-sufficient. This will
improve their status in the society as they will match up with the male section
of the society with respect to monetary selections that are concerned.

Independence from Mistreatment: Adequate education and training on

monetary education will improve in protecting society and individuals in
hostility to unequal monetary designs and irrational the prices of a percentage
which are imposed by financial counselors.

Household Prosperity: Dissimilarities between males and females are

observed when it comes to making decisions about household finances,
which in return affects the relative economic power within the household. This
results in allocating household resources according to different preferences by
both men and women which have implications for the well-being of the family.
Research conducted in several countries indicates that households don't act
as one single decision maker. Thus this marks that family wealth and funds
that remain with the females has seen lot of probability spent by them on the
well-being of the family, mostly on children.

Although, it's imperative for women to accumulate monetary information and

to form monetary planning, there are still a lot of gap that persists India as so
much as monetary accomplishment among women. The present scenario
also has many issues faced by the women in gaining financial knowledge, in
spite of government involvements and measures for improving the financial
literacy among women in India.

Factors Influencing the Financial Literacy among Women in India

There are a several factors which influence financial literacy among Indian
women. The prominent factors are discussed as follows:
Lack of Independence: A number of theories speak and support equality
between men and women in spite of that woman are deprived of the amount
of independence which men enjoy. Many women are not allowed to manage
their finances independently which is one of the basic problems of lower
10
literacy levels. Majority of the financial investment decisions of family’s well-
being are generally taken in agreement with the entire family. Hence, such
monetary decisions are not taken on their caliber but are dictated by social
responsibility. Generally women are allowed to spend a small portion of what
they earn so as to maintain harmony in the family women thus letting go their
financial freedom.

Culture: Culture in different countries does not give importance to financial

decision making from women. Some cultures in countries like India, do not
allow financial decision by women for the family. Such practices consider men
to take control of financial matters and would consider women to take care of
household duties. This disrupts their confidence and restrains them in
becoming financially literate.

Lack of women centric financial schemes: Many financial institutions only

develop generic financial services and not women specific financial schemes.
Women find it difficult to take financial decisions and learn financial jargons
because of high and rigid requirements from these financial institutions to
access the services. Products that only focus on business and does not focus
on the woman household also act as a barrier in financial literacy among
women.

Lack of accessibility: A lot of financial institutions locations are based out far
away from where the women reside or do businesses. Hence they find it a
time consuming and expensive way out to visit these financial institutions.
Such an issue is mainly seen among women living in rural areas.

Lack of information on existing financial services and requirements:

Many of the women population is less attentive of the accessible monetary
goods and utilities supplied by investment organizations. One of the reasons
for this is that these institutions advertise their services in conventional media
and billboards. Hence, there is a lack of awareness creating an impediment to
be financially aware. Lack of financial understanding and knowledge
contributes in a crucial way in their dependence on investment and financial
11
planning on spouse/family and leads to dependency on family for decision
making.

Less lucrative benefits: Money lenders charge high interest rates on loans
and high fees for maintenance and operations of current accounts and
provide low interest rates for deposits in savings accounts which are a reason
that prevents many women from seeking these services.

Lack of basic education: The basic literacy level of females in Indian society
is very less in comparison to males. In most parts of the Indian society do not
allow women or girls to complete or gain higher education. The consequence
of which is lack of basic education and computer knowledge which leads to
another reason of low financial literacy level among Indian women.

Lack of financial resources: In India, a majority of the women fall into the
non-working class. Due to this, they have a dependency which lies completely
upon their spouse or father for an income source. Hence, this confines them
to take financial decisions along with the agreement of the entire family.

In the midst of indication to the core purpose acknowledged on top of, sub-
purpose of the learning is to establish the monetary education glassy of ladies
with diverse collections, which can be ladies who are housewife and those
who work. Monetary education is a tool that is focused on public which is vital
for utilizing extensive assortment of money related instrument in greatly
entangled monetary markets adequately and effectively. Monetarily created
nations are expanding instruction identified with money related techniques to
broaden the low monetary procurement levels of family. It winds up noticeably
important to locate the money related proficiency level of individual to
arranging, actualizing and controlling a legitimate instruction of monetary
strategy for setting them up to without a break and beneficially creating
monetary marketplace.

Monetary understanding and learning is particularly imperative in periods

where progressively intricate money related items are effortlessly accessible
12
to an extensive variety of the inhabitants. For instance, through administration
in numerous nations pushing to help access to money related administrations,
the quantity of individuals with financial balances and provisions to financial
status items are growing quickly. In addition, alterations in the annuity scene
exchange basic leadership obligation to members who beforehand depended
on their bosses or administrations for their monetary security for life after one
give up work.

Monetary Teaching is "a way toward constructing learning, aptitudes and

states of mind to wind up plainly monetarily proficient, acquainting individuals
with great cash administration execution as for procuring, expenditure,
participating, obtaining and contributing. The part of monetary training is to
empower individuals to move from responsive to proactive basic leadership
and work towards satisfying their monetary objectives. Monetary competence
is the capacity and chance to utilize the information and abilities learned in
money related proficiency and education with technology by the individual to
utilize the spectrum of entities of the financial system thus enabling a total
financial inclusion leading to Consumer Empowerment and Protection.

Figure 1.1: Journey from Financial Literacy to Empowerment and

Protection

Along these lines establishing monetary competence turns into a voyage, the
blend of learning, aptitudes and individual’s state of mind with the chances to

13
relate them, needs contribution from different basis involving those that
proficient and makes the buyers understand and trade the items.

The necessity for Monetary Education is not only for the underprivileged but
also to the trainers / stakeholders, a full package of FL content and related
issues are to be addressed and reach of the programmes and impacts are to
be measured. Financial literacy could either be imparted by local or regional
levels or at specialized centers like Financial Literacy Counseling Centers
(FLCCs) or through ICT kiosks. Likewise it should be decided whether
Financial Literacy needs to be imparted separately in the form of academic
courses or on the job.

The content of Financial Literacy should be as follows:

Figure1.2: Flow of Content in Financial Literacy Programmes

Such comprehensive Financial Literacy can give capacity to improve one’s

own financial status and well-being by taking informed decision for household
budgets, initiating saving plans, managing debt, preparing people before hand

14
with needs for living life and handling the unforeseen crisis and assisting in
removing not required debts. While in developing countries financial literacy is
targeting the poor and disadvantaged, but in the so called developed
countries the targets could be varying.

Money related obliviousness conveys noteworthy expenses. Buyers who

neglect to comprehend the idea of enthusiasm intensifying spend more on
exchange charges, keep running up greater obligations, and bring about
higher financing costs on advances. They additionally wind up acquiring
increasingly and sparing less cash. In the interim, the potential advantages of
money related proficiency are complex. Individuals with solid money related
abilities complete a superior occupation arranging and putting something
aside for superannuation. Fiscally, sagacious financial specialists will probably
broaden hazard by spreading stores over a few endeavors. Given the
numerous ways money related education influences monetary conduct, it is
vital to comprehend the degree of individuals' comprehension of fundamental
monetary ideas and additionally how much monetary ability miss the mark
among bunches like females and people below poverty line.

Monetary proficiency is estimated utilizing questions evaluating essential

information of four principal ideas in money related basic leadership: learning
of loan costs, enthusiasm exacerbating, swelling, and hazard expansion. Is
money related ignorance far reaching, as well as there are huge varieties
among nations and gatherings? For instance, ladies, deprived people, and
lesser instructed defendants will probably experience the ill effects of holes in
money related information. This is genuine in creating economies as well as in
nations with all around created money related markets. Individuals with
moderately high money related education additionally have a tendency to
have a couple of things in like manner, paying little heed to where they live.
Grown-ups who utilize formal money related administrations like ledgers and
Master cards for the most part have higher monetary learning, paying little
heed to their pay. Indeed, even destitute individuals who have a ledger will
probably be fiscally educated than needy individuals who don't have a

15
financial balance, and rich grown-ups who utilize credit additionally by and
large have preferred monetary abilities over rich grown-ups who don't.

This proposes the connection between money related information and

monetary administrations may work in two ways: While higher budgetary
education may prompt more extensive monetary incorporation, working a
record or utilizing praise may likewise extend shoppers' budgetary aptitudes.
By indicating where budgetary abilities are solid and where they are deficient
with regards to, these new information can enable partners to outline
arrangements and projects to enhance the money related prosperity of people
far and wide. It is hard to state whether low money related information makes
these individuals less inclined to utilize monetary administrations. Truly, most
destitute individuals make installments and other monetary exchanges each
day; however they do as such in casual and frequently more exorbitant and
less protected ways. In the event that they were more mindful of records and
how they are utilized, unbanked grown-ups may agree to accept a record.
Another conceivable reason the unbanked need money related abilities is that
they don't have encounter utilizing budgetary items. On the off chance that
they utilized money related ideas in their everyday lives, their comprehension
could increment with time. The idea of enthusiasm, for instance, would turn
out to be more concrete as they watched the estimation of their investment
funds increment. The clearest clarification for low money related abilities
among the unbanked is that they originate from poorer and less instructed
family units.

The most important part of financial Inclusion (FI), are Financial Literacy and
Literacy Rate. Without understanding the basics, the underprivileged group of
masses will continue to remain honest, susceptible and a lot of times
unknowingly accountable too. One of the main objectives of monetary
education is to give advantage to the underprivileged. It helps them to save
money, better use of money, using the funds for better living and welfare, and
earning more revenue. Across the globe there are many institutions and
agencies as well as our own country, are both working towards to meet these
requirements. There is also a need to stop and take a close look whether the
16
required methods are flowing in the correct direction or are there any
interruptions midways to the flow. Financial Inclusion has come-up as a great
importance to the authors and managers in the process of developing policies
amongst 60 countries world-wide in the battle against poverty. Many countries
have already started and are introducing comprehensive designs and
approaches to develop the right use of finance.

A Financial Inclusion Experts Group (FIEG) made, to extend provisions to

support domestic shoppers and smaller scale, little and medium measured
endeavors. The gathering has created nine ideologies for new monetary
enclosure viz., guidance, variety, development, security, strengthening,
participation, information, appropriately and structure, from encounters and
lessons gained from strategy creators over the biospheres, which have been
supported amid a conference.

The movement of economic addition in India started in the early 1950 and
moving forth to 2005 it has been measured as a Policy Priority by reputed
Institutions such as India’s central banking institutions and other significant
banks etc giving different directions and instructions within the past few
decades. Financial Inclusion becomes a powerful tool by these reputed
Institutions as a comprehensive advancement to make sure everyone gets
equal opportunities. RBI for a while has been concentrating on providing
feasible ranges of stock and services related to finance with the help of
appropriate approaches to the lower and impoverished groups and
communities of the Indian Society at a very nominal price.

Keeping a credit delivery focus, RBI has given guidelines to banks in the
country encouraging financial inclusion such as implementation through the
banks and dis-incentivizing those banks that are not all open to the
community containing the people who are underprivileged. Monetary
organizations such as banks are advised to line up their current activities with
the targets of monetary enclosure. From 2006 more enabling environment
was being created with opening, there were accounts created which could
maintain minimum or zero balance, accounts that can withdraw money when
17
the balance reaches zero for accounts which are redeemable, flexible
documentation standards, permitting the financial service providers to utilize
facilities.

An operating team was formed to look into the events encountered by the
BCs & BFs, to keep a watch on the restrictive and administrative structures for
controlling and securing customer’s accounts, also, other than savings,
introducing technology products such as pre-paid cards and services such as
Mobile Banking. Special funds have been facilitated to take care of Financial
Literacy Packages.

In spite of taking good approaches, our country still seems to take time to
have an acceptable scope for Financial Inclusion while looking forward. Even
though there are several obstacles and inconsistency which are diagnosed
while moving forward in the entire financial inclusion, monetary education still
seems to be a fundamental specification. This makes sure that there is good
financial inclusion which is backed up by credit delivery with break through
approaches.

Enclosure of the financially and socially excluded disadvantaged needy,

underprivileged and poor people of our country, India. Though for centuries
we have been in the forefront of the world affairs in the past centuries, maybe
because of civil, social and economic vagaries that the country had to suffer
resulted in over 65% of the people excluded from any kind of financial
inclusion. Now the question is what exclusion is and what inclusion is?
Exclusion broadly can be said of an individual deprived of having any facility
to earn an income, safeguard the same, transfer or invest for a further benefit,
protect from risks etc. Inclusion is to help him acquire all these facilities.

In many cases larger parts of the nation’s people cannot open the doors
because of financial exclusion, emerges an upcoming need to incorporate
them and carry them into the standard. Furthermore, to this the greatest
18
imperative activity is to let them know and show them. The procedure is
named money related education. Be that as it may, the procedure of monetary
education isn't as simple as noises. The huge populace, diverse dialects and
societies, with absence of education as a noteworthy hindrance this is without
a doubt a test. However, we have to acknowledge this test and make
invasions into the bastions of illiteracy to make the people literate and
financially literate at that.

The successive governments in India have taken up this task since the early
1950s soon after we attained our independence. Yet, one can say, the
momentum. Truly increased before a decade when India’s central banking
institution provided headings and rules towards a more sensible money
related enclosure towards Monetary Education joined with innovation turns
into a noteworthy perspective. Lending their shoulders are many Banks, MFIs,
NGOs, Insurance Companies, technology providers and national and global
facilitators like the joint countries expansion projects. Supporting the Indian
government’s national priorities, the India-United Nations Development
Assistance Framework. Stating the aim, guidelines and combined activities of
the UN structure’s intention which is encouraging communal, monetary and
biased enclosure for the ones who are underprivileged such as the females
and younger ladies.

Towards achieving this objective, UNDP has identified the major states in
India who prioritizes states requiring more focus than others and initiated
many programmes in these focus states. Providing Financial Literacy to the
needy in these states as an important fraction of the eradicating poor families
by international bodies. After the projects have been initiated, several studies
have been undertaken to a) understand the effectiveness of the various
financial literacy programmes undertaken and present, b) analyze the
programmers’ impacts on enhanced use of financial services and c) to draw
out best practices and their relevance for enhanced and continued financial
inclusion programme.

19
Almost all studies have more or less concluded that Monetary Education is a
vital element in the monetary enclosures. In the wake of rapid invasion of
technology across the world it also becomes imminent that ICT plays an
important role in the financial inclusion and it is strongly advised that the
financial literacy curriculum includes technological interventions in a bid to
reach quicker and cost effective as also secure money related goods and
utilities to the ones who actually require it. By and large the rural and urban
poor, underprivileged / disadvantaged, illiterates, those with no / low incomes,
women, children, migrants and disabled are those who are being excluded.
Monetary enclosures’ vision is to assure provisions to the complete set of
monetary facilities at a reasonable price. Such as provision is able to continue
only when the people who are making use of these utilities are capable of
understanding it.

Monetary enclosure can be booming only if there is a balance between the

request and source for money related utilities is made stronger. The lateral
which makes things available need to be motivated by monetary utility
suppliers and the side that suffices the demand will be taken care by India’s
central banking institution. The UNDP-NABARD monetary enclosure project
works on strengthening demand for financial services, by supporting the
Financial Literacy (FL) programmes. UNDP, under the poverty reduction
programme, partnered with NABARD to design and strengthen
implementation of financial inclusion project focusing on people belonging to
disadvantaged groups and regions. It underpins projects, approaches and
organizations that encourage earning chances for the destitute individuals and
enable them to get to money related items to secure growth.

Besides Study on financial literacy in seven UNDAF states, UNDP and

NABARD also thought it important to have a study to understand the current
issues and challenges in ICT enabled Financial Inclusion initiatives from the
perspective of all stakeholders in this ecosystem. Information and
Communication Technology (ICT) is increasingly being seen as facilitator for
making FI initiatives penetrate in remote locations. ICT enabled FI ecosystem
as it is known as, has many stakeholders such as Government, banks,
20
intermediaries, users etc. These ecosystem players are looking for new
technologies and up-gradation in existing technologies to ease off the existing
concerns. Supported by the abovementioned logic, requirement of an
evaluation framework that can be used by banks or investors to judge the
capability and capacity of a player to launch an ICT enabled FI initiative was
also felt. UNDP and NABARD collaborated with Indian Institute of
Management (IIM) Ahmedabad with an objective to find the important
parameters on which a FI project can be evaluated.

The often neglected poor also need a wide variety of monetary utilities such
as openings to get income, secure the earned money or financial status to
uphold the investments in maintaining at least bare minimum levels of
sustenance through the year, risk mitigating services like insurance and
transferring their earnings to their near and dear who may be staying at other
places. It has been often discussed and agreed that one of the most vital
deficiency to obtain money related resources by the underprivileged families
when a family member not being present or unduly death of that member for
suitable monetary utilities. And the biggest deprivation is lack of knowledge of
finance. It is believed that as much as money or finance, its goods and utilities
necessary for monetary enclosure so is monetary education., it is when a user
does not have adequate knowledge about his or her monetary requirements
and how to utilize it, to what purpose are the products and services for that
person?

One of the definitions of Financial Literacy offered "The capacity to brand

educated rulings and to take powerful activities with respect to the present
and upcoming utilization and administration of cash. It incorporates the
capacity to comprehend budgetary decisions, anticipate the future, spend
admirably, and deal with the difficulties related with life occasions, for
example, a vocation misfortune, putting something aside for superannuation,
or disbursing for a kid's training." Monetary Teaching is "the way toward
building learning, aptitudes and dispositions to wind up plainly monetarily
proficient, acquainting individuals with great cash administration rehearses
regarding winning, expenditure, sparing, getting and contributing. The part of
21
money related instruction is to empower individuals to move from responsive
to proactive basic leadership and work towards satisfying their monetary
objectives. Monetary competence is the capacity and chance to utilize the
information and abilities learned in money related education and learning with
technology by the individual to utilize the spectrum of entities of the financial
system thus enabling a total financial inclusion leading to Consumer
Empowerment and Protection.

In India, people across generations have been in the habit of saving

conventionally or un-conventionally; in cash or in kind. The preferred saving
products for centuries have been gold and land. However, a conscious effort
of financial inclusion, though through informal approaches have started since
1950, real momentum started gathering since 2005 onwards with Reserve
Bank of India giving directions and guidelines supported by organizations
such as NABARD and commercial banks the financial literacy efforts have
started.

The above table reflects an understanding and congenial policy environment

in the country towards a steady financial inclusion. As the financial literacy
need was being felt strongly towards a financial inclusion, empowerment and
protection, several agencies started working together towards this goal.

22
Financial Literacy Initiatives by RBI initiated by India’s central banking
institution, the idea of monetary learning and coaching, and the awareness
has taken a whole new dimension. Their project titled "Project Financial
Literacy" gives directives on distributed data with respect to the national bank
and common managing an account provided ideas to different intended
collection of people, for example, university and institutions going kids, ladies,
villages and the middle class in the cities, people working in the army or
borders and elderly natives. Under this project, the RBI (India’s central
banking institution) underlined the requirement for financial status and
specialized directing for expanding the practicality of financial status,
especially in the generally immature districts. Taking into considerations the
suggestions of the two functional classes, and as far as the Annual Policy
Statement, the financial institutions of the province/Union Territory Level
Bankers' Committees were exhorted to set up, on a direct premise, a
Monetary Literateness in the province/Union Territory, going under their ward.
Additionally, in view of the knowledge picked up, the alarmed financial
institutions were encouraged to set up such focuses in different regions.

Figure 1.3: Financial Inclusion Modes & Various Players

Further actions taken by RBI in this regard are:

23
a) Encouraging Guideline Standpoint
The yearly arrangement articulation for the year showed that financial
institutions actualize strategies to support banks which give broad
administrations, while not boosting those that are barely receptive to the
managing an account needs socially, considering the poor and below poverty
lines.

Banks were asked to audit their current practices to adjust them to the target
of money related consideration.
• Accounts with minimum balance or zero balance
• Accounts from where money can be required when the balance is zero
• Relaxed KYC norms
b) Business Correspondent / Business Facilitator Model
Banks were allowed to use the administrations of mediators in giving
monetary and managing an account those benefits using business
correspondent and business organizer forms.

An operating team of people constituted to look at the knowledge of date of

the form and recommend measures, to augment the class of people that can
go, maintaining the administrative and managerial system and customers’
security concerns.

Schemes provided by other Financial Institutions

A couple of banks have officially taken activities in opening in nation, for
example, few guidance centers are operated across the country to guide
people in difficulties.

Numerous different financial institutions are connecting with the fiscally

separated in no less than three modes, independently or in mix. Many banks
have named their Financial Literacy Programmes / Centers and are trying to
focus on reach. While few financial institutions called its project as
“Samadhan”,

24
 Figure 1.4: Modes of reaching out Financial Literacy

Apart from the Scheduled Commercial Banks, the private banks and
Multinational banks also are doing their bit in the direction of monetary
enclosure all the way through monetary education.

NABARD supports the creation of FLCCs in the Lead District Manager’s

offices with 100% funding outlay / expenses across our country and 60%
funding support to the rest of the states in the country.

Thus, in the recent years after RBI has initiated and given directions with
guidelines, financial literacy has picked up pace and is now being imparted
not only by the afore mentioned banks, but also by various other independent
organizations like funding agencies, NGOs etc., because it is now being seen
as empowering the vulnerable poor and enhancing their income through
informed decision making in financial matters.

Dissemination of such knowledge pertaining to various financial services and

products is being imparted in different forms and modules by different
organizations across India. By drawing the best practices and the right
modules of delivery from these different programmes, we can get the
directions for developing a coherent and apposite Financial Literacy Package
for the marginalized and unbanked section of people. Such a package can
empower the masses to avail various financial services and products to their
advantage and understanding of personal finance to make viable move to
enhance general prosperity and keep away from trouble in issues that are
monetary in nature. If the momentum gained can be maintained, we can
safely say that the policy environment is facilitative but the policy makers and
the regulators need to monitor the developments closely.

25
Budgetary incorporation welfares people and families, and well-working
money related frameworks advantage entire nations. Be that as it may,
access to money related administrations is exceedingly unequal, with needy
individuals – and especially poor ladies – as often as possible the slightest
served by existing organizations and frameworks. There is adequate
confirmation of how budgetary incorporation tasks of various sorts can, if
appropriately outlined and actualized, improve ladies' monetary strengthening.
Budgetary consideration activities can hence accomplish both sex value
destinations and neediness lessening goals.

All things considered, keeping in mind the end goal to advance destitution
decrease and sex value, there is a reasonable justification for utilizing
improvement assets to upgrade monetary incorporation for ladies. This
toolbox offers a down to earth manual for creating and observing monetary
administrations to improve ladies' money related incorporation as one
apparatus for the financial strengthening of ladies.

A monetary consideration program may not be focused on particularly at

ladies. For instance, it might have wide are to lessen poor family objectives
that advantage males and in addition females too. To ensure ladies
advantage however much as could be expected from the package, it is
essential to comprehend why money related rejection for ladies is not quite
the same as monetary enclosures for males.

With a specific end goal to decide whether a budgetary consideration

undertaking will improve females’ financial strengthening in a given setting
and to comprehend what sort of task may be best, a checking study is
required. This ought to incorporate data on:
• legitimate, administrative and formal setting nationwide – for instance, the
lawful status of females purchase of property or equity availability;

26
• the community and ethnic situation – for instance, any ethic standards that
require females contribution in segments such as professional, and
monetary areas;
• conditions in which unmarried females in intended programs – for
instance, the facilities accessible and segregation of work inside the
family;
• provision of money related facilities – who at present is given attention and
within what circumstances? What are hurdles that females in contribution,
for example, limited bonds to purchase money?
• The requirement of monetary facilities by females – what are the types of
concerns faced by them and what hurdles females come across to be a
consumer of monetary establishments, for example, absence of
knowledge or the absence of management over family’s monetary assets?

Probably essential and optional information together will be expected to build

up the benchmark for any type of projects, and it is sensible to include an
extensive variety of partners to guarantee that alternate points of view are
spoken out.

Guarantying a fruitful result, a monetary enclosure agenda that is additionally

intended to accomplish ladies' monetary strengthening that would elevate
ladies' entrance to and utilization of various money related utilities and
organizations so as to improve one’s personal existence and people within
their family.

Globally there is no acknowledged meaning of females’ money related

enclosures nor is there a generally acknowledged meaning of females’
monetary strengthening. Though, of late there are a lot of studies done to
analyze how marketplaces have grown considerably to be more receptive
particularly related to sexism universally limited by the underprivileged males
and females. Therefore suggestions for monetary strengthening needs to
involve: economic advancement through increased income and return on
labor;

27
• financially viable progression by providing rise in salary and profit for work;
• provisions to circumstances and existence possibilities, for example,
improvement of capability or employment chances;
• availability of resources, facilities and the help required to progress
financially;
• dispensation of accountability in various circles such as money required to
run a family.

The diagram beneath is attempting to investigate the scope of concerns such

as sexual variation on value motivation, or even the full scope of issues that
would be expected to address ladies' monetary strengthening entirety. The
attention is on where money related consideration, which grasps a
considerably more extensive scope of exercises than customary microfinance,
covers with a more extensive sex value and monetary strengthening plan.

Figure1.5: Financial inclusion as a subset of the wider gender equality

agenda

Ladies confront different and covering boundaries as they endeavor to

enhance their lives and their monetary conditions. Budgetary incorporation
projects can just address some of these. Frequently money related

28
incorporation will be one a player in a more extensive program tending to a
few factors that point of confinement ladies' chances. Access to money
related administrations can likewise restrain a portion of the dangers needy
individuals confront. Holding cash in a bank or investment funds plan can
diminish the danger of misfortune through flame or robbery. It can enable
individuals to smooth utilization when their salary varies and keep them from
slipping once again into neediness because of stuns, for example, sickness,
joblessness or demise.

Providing funds to small business entities packages are widely recognized

and most concentrated of money related consideration packages. Various
investigations have demonstrated that they can have a positive effect on
ladies' strengthening, in spite of the fact that this depends on how well they
are imagined and tracked. Also, few smaller economic plans have minor effect
on ladies' financial strengthening. Now and again in light of the fact that the
overall victimization ladies' monetary exercises was excessively
unpreventable.

In different circumstances, deserts with the plan, regularly because of credits

being too little to change ladies' chances; small advance reimbursement
periods that don't consider extended haul riches making venture; or on the
grounds that loan costs are too high. A long way from engaging ladies, such
factors can drive them into ended obligation and may expand their weakness
in different ways. As is additionally the case with men, ladies may likewise just
do not have the entrepreneurial aptitudes to make an incentive from a small
funding, and the ultra-poor will most likely be unable to get to small funding
because of their powerlessness to make even negligible credit
reimbursements

In any case, the formation of the small funding business has made a
foundation, which can go about as a stage for the conveyance of a more
extensive scope of administrations, frequently through associations between
small funding organizations and other money related establishments, e.g.
banking institutions. These organizations give banking institutions access to a
29
customer base they would not have generally possessed the capacity to
reach and give small funding customers admission to a more extensive scope
of items and administrations that will most likely be unable to propose.
Particularly essential when business visionaries' monetary needs turn out to
be additional perplexing – for instance, when private companies develop and
they require bigger measures of capital than a MFI can offer, or they require
installment administrations (e.g. for finance or for universal exchanges) or
items, for example, exchange back or renting.

Researches additionally demonstrate that reserve funds plans can enhance

ladies' certainty and basic leadership control in the family unit, enhance their
buying control, and diminish weakness. Town funds and advances affiliations
are an inexorably normal sort of money related incorporation venture, joining
praise and a sparing component, and composed around gatherings of
members who on the whole oversee reserve funds and settle on choices on
advances. In any case, a similar assessment discovered other critical
imperatives on ladies' strengthening, for example, lack of education or
individual security fears, were not being tended. It additionally found that
praises made were at times too little to enable ladies to initiate feasible
organizations, and that the work engaged with taking an interest in the
affiliation added to ladies' as of now impressive time weights. The effects of
the distinctive relationship on neediness shifted significantly from nation to
nation.

Sort of money related incorporation package includes the arrangement of

plans to empower ladies to hold or exchange money. Once more, thinks
about, together haphazard and non-haphazard, have discovered that this
arrangement can improve ladies' financial movement and earnings. Money
related education is regularly obtainable as a major aspect of small funding or
different projects and should consider basic public and communal issues in its
outline. A haphazard switch assessment endeavoring to divide the effect of
money related proficiency all alone discovered monetary education and
business aptitudes preparing prompted more prominent take-up of credits and

30
higher business pay among Hindu ladies, despite the fact that there was no
confirmation of any effect on Islamic females.

A few projects have an express target of expanding ladies' monetary

strengthening, with money related consideration as only one component.
These frequently start lifetime as a push to manufacture social capital or as a
charitable organization, and grow their arrangement of various administrations
as they end up plainly mindful of innovative or neglected wants. Few
associations have the similar strategies to support the cause. In early 70’s the
women who work on their own had initiated the actions on this. There were
more than ninety thousand admirers and people who supported this
movement in the early seventies. People from different countries started
adopting the practice. They formed a structure where all the people can be
united and get benefits of the movement. This movement reinforced steps to
support children and people from economic background. This movement
brought a drastic alteration in the cultural and public which educated the
crowd about the funding sources from small institutions.

Ladies live various monetary lives as compared to males:

• As agriculturalist – as often as possible a gendered division of work inside
country family units implies that ladies agriculturists have a tendency to
have practical experience in the generation of nourishment yields and men
in real money crops. Males in this way regularly have first claim on the
cash created from offers of money crops, while ladies utilize deals and
trade of sustenance products to create their own particular wages.
• As business visionaries – as per rural evaluations, ladies are six for each
penny less profitable than males (utilizing esteem included per specialist
as a measure of execution among ventures).
• As wage workers – sexual orientation contrasts in labor markets are very
much recorded, with ladies by and large acquiring less or gaining practical
experience in specific kinds of business. Business exercises are
additionally frequently partitioned along sex lines, with specific kinds of
exchanging or generation regularly ruled by males or ladies.

31
• As containers of advantages – ladies are more averse to be the formal
proprietors of land, property or different resources. In African regions, for
instance, just a fourth of ladies claim the land they cultivate.
• As purchasers – numerous examinations have archived the distinctive
spending examples of men and ladies, the diverse kinds of buyer
merchandise purchased and venture choices made relying upon who
controls the money inside a family unit.

Distinctions imply that unless a budgetary incorporation package is intended

to explicitly incorporate ladies, it will regularly prohibit them, or possibly affect
upon them contrastingly to males. In this way, governs about security for
advances may oppress ladies who are less inclined to possess any benefits,
and protection conspire take-up will fluctuate amongst men and ladies relying
upon their dispositions to chance.

In our country, monetary learning for ladies prompted more noteworthy take-
up of advances and higher business livelihoods among Hinduism religion
females. Money related incorporation is obviously one a player in expanding
ladies' monetary strengthening and, thusly, of developing the general
economy. Be that as it may, it is a long way from the entire tale and must be
one a player in a package of ladies' monetary strengthening. The absolute
most fruitful projects are those which have comprised both budgetary and
different parts, intended to handle distinctive parts of ladies' monetary
strengthening. Ladies' monetary incorporation can make an imperative
commitment to ladies' monetary and more extensive strengthening and, along
these lines; to neediness diminishment and Women's money related
consideration can make a critical commitment to ladies' financial and more
extensive strengthening and, in this manner, to destitution decrease.

Proof demonstrates that entrance to monetary administrations alone is by and

large insufficient to engage ladies. Along these lines, a money related
consideration package needs to consider whether or not, in the meantime, to
elevate access to different administrations, for example, wellbeing and

32
training in light of a legitimate concern for boosting the program's effect on
ladies' strengthening. The arrangement of a ladies' monetary incorporation
program ought to along these lines deliberately consider the setting in which
ladies are living and the various levels of rejection and segregation.

Assumed, at that point, that a definitive objective of advancing ladies' money

related incorporation is to diminish neediness, the plan of a ladies' monetary
consideration program needs to dissect the conditions under which it will
really add to that objective. At the point when will ladies' monetary
consideration prompt more prominent ladies' strengthening and destitution
lessening.

33
 1.2
PROBLEM STATEMENT

The world has become more materialistic and when it comes to money every
one is cautious as to how to earn money, what sources he should search for,
and what can make his life satisfactory, when it comes to spending. In spite of
the fact, that regular and formal education is offered at various level, the
general level of ignorance at financial literacy still remain a major problem. It
is necessary that people should be formally educated about their economic
and monetary needs; right understanding about finance and functioning of
economy, the understating of marketing mechanism, investment and rate of
return can help a person to leave a peaceful life.
For working women, who has become eco independent, financial prudence
has become extremely important, so that they can take independent decision
about sources of investment, mode of indent, and methods of right
deployment of finance.
Today financial literacy is a big problem for every country. If we focus towards
the Indian culture, we normally are more focused to investments in fixed
deposit, Bank deposits, Post deposits or Insurance policies. Today to invest
your funds in multiple sources there are multiple opportunities for the same,
this can be groomed in order to find out the best option. We lack a formal
education. In terms of financial investments. We are more influenced by the
society or colleagues or family members, friends, relatives while taking any
financial investment decision. It is usually seen that we take decision for
investment

34
 1.3
RATIONALE

Rationale: The study becomes important due to following reasons

The research which is currently based on the subject of working women
regarding financial literacy and financial planning which becomes important
for a various number of reasons. The need of the research can be justified on
the following grounds:

Researcher has selected this area of topic for his personal and academic
interest which seems to be interesting to understand the underlying causes.
There are a lot of factors which put women into a disadvantage as compared
to men in terms of financial planning. Such an issue lies in families where
women head their houses and are able to make good decisions about
investments and prepare for their retirement. Even though adequate
knowledge about financial planning is present still they fall short to prepare for
life after they retire. Therefore they need to organize with the help of
appropriate knowledge so that they can plan to save money after they retire.
Inadequate knowledge on how to prepare for retirement results in the kind of
selections they make on investments and the range of monetary products
available: especially in the case of females who do not plan will have low
monetary resources and the ones who plan will have abundance of shares
and resources that are tax free. Apart from all these issues women we also
need to focus on wasted opportunities to become financially literate.

Thus the rationale of the study is as follows:

1. There is continuous increase for women in various sectors and segment of
the society
2. Increase independence has changed the mindset and approach of working
women.
3. Financial prudence and e\co literacy can help the working women to utilize
the right and maintain their dignity and status therefore financial literacy is the
core aspect of very working life.

35
 1.4
RESERCH OBJECTIVES

The main aim of the study is mentioned as follows:

1. Comprehending the concept of financial literacy and its relevance in
present contest.
2. To examine various facets of economics of literacy and application.
3. To know the kind of financial literacy inputs required by women.
4. To identify the problems faced by women in acquiring necessary financial
literacy inputs.
5. To suggest measures to develop right kind of financial literacy model for
women.

36
 1.5
RESEARCH HYPOTHESIS

Every research is carried out to explore or dig out something which has not
yet been fully discovered or acknowledged. These studies are done on the
basis of some specific statements which can either be true or be false based
on the outcomes and findings of the research. Whenever we are going to do a
research or try to answer some questions, we have one or more possible
answers or outcomes in our mind. Either few of which are possible or
“guessed” answers or outcomes are called “Hypothesis”. After the research,
the answer or solution is matched with what we have presumed before, our
hypothesis is said to have been accepted. On the other hand, if findings of
research do not match with our guessed answer our hypothesis will be
rejected. No research will be counted as appropriate or complete unless it is
based on certain hypothesis or assumptions. They will guide the researcher in
recognizing what he is trying to find out or prove through his research.

In short, Hypothesis is a statement about what could be the answer/findings of

research. It is nothing but a general statistical assumption on the basis of
which we test the significance of a test. A research can have several numbers
of hypotheses. They are the statements which give the direction to the
research. In simple words, hypothesis is a statistical statement which is
tested, by appropriate tests, for possible rejection or acceptation.

Hypotheses are of two types; null hypothesis and alternate hypothesis.

NULL HYPOTHESIS- we depict the null hypothesis by H0 (pronounced H-
not); this is the basis or general inference we draw from the experiment and
for which the significance is generally tested.

ALTERNATE HYPOTHESIS- depicted by H1; this is taken as a control factor

for H0, and hence the inference is drawn from H1, if H0 is proven wrong
(statistically insignificant). In other words, Alternative hypothesis is the
hypothesis that is accepted in case of rejection of null hypothesis.

37
One of the important things that is necessary to consider in the development
of hypothesis is a good hypothesis is something that can ask questions which
have certain answers that can be examined based on facts and theories.
These questions have to make sense, it has to be related to the field, and it
has to be one which can be evaluated.

So, this research will be carried out on the basis of following hypothesis;

H1: Absence of proper financial literacy limits the opportunities of investment

among working women.
H2: Men dominant Indian culture impacts investment decisions of working
women.
H3: Financial planning promotes economic equality among working women
and men
H4: Working women are influenced by their husband and other family
members while taking any financial decisions
H5: Media coverage and advertisements positively influence the financial
decisions of working women

38
 1.6
PURPOSE OF THE STUDY

The principle of the research work is to examine the issues and problems
faced by women understanding the whole concept of financial education and
literacy. The factors can be economical, geographical, cultural issues, political
issues, governmental issues, environmental issues, physiological issues and
other.

To upgrade ladies strengthening and the sexual orientation adjust in initiative

and enterprise it is basic to make a convincing confirmation based justification
documents. Few motives an organizations ought to be – and progressively
are – inspired by upgrading the part of ladies in their organizations and why
approach creators need to discharge the undiscovered capability of ladies
business. Such reasons include: a) to draw in and hold the best ability; b) to
better serve shopper markets, incorporating those in which ladies are the
fundamental clients; c) to upgrade assorted variety and enhance general
execution in the work environment and economy; and d) looking ahead into
upcoming statistic alteration.

In the midst of developing aggressive and economical demands, companies

are continually searching for the best ability. Ladies represent a developing
offer of the ability rising up out of the instruction framework, and despite the
fact that advance is moderate; there are a bigger number of ladies with
science degrees than some time recently. Firms’ hazard missing out on the off
chance that they don't use this ability pool. With quick maturing in nations and
past, the look for ability is of developing significance to numerous
organizations, and giving ladies a more prominent part is progressively
observed as a major aspect of the arrangement. Firms that are not ready to
address sexual orientation uniformity in the work environment additionally
chance not being viewed as appealing profession prospects by the up and
coming age of ability. Drawing on new, enhanced ability pools can likewise be
great.

39
Pulling in the finest ability isn't the main motivation behind why numerous
organizations are effectively occupied with sexual categories. Activities to
walkout a superior harmony amongst effort and household lifespan, for
instance, may likewise decrease pressure, infection and non-appearance, and
diminish motivating forces to search for work somewhere else, in this manner
expanding staff maintenance. A survey of the writing finds that the
presentation of work-life adjust rehearses does not really resolve potential
clashes amongst work and life. It does, however, opinion to the advantages of
such practices for organization execution, which incorporate enhanced
recognitions, enlistment and maintenance of workforce.

A more considerable part for ladies likewise upgrades decent variety, which
can be significant for a company's execution in an undeniably complex world,
empowering it to attract on assorted viewpoints to take care of issues, take
choices, and improve initiative. This is critical together at panel equal and
different heights of basic leadership. Additional ladies in initiative positions
can have an optimistic stream down impact, facilitating in more
comprehensive work environment societies and giving more youthful ladies
good examples and coaches.

Ladies likewise represent a vast offer of the worldwide shopper marketplace

and acquiring choices in family units. Organizations – specifically those
portion buyer souks – may subsequently search available ladies to better
comprehend purchasing examples and help create and advertise items went.
Companies may likewise search for other non-money related advantages, for
example, an enhanced picture or solid female good examples that can in a
roundabout way add to organization procedures.

40
 1.7
TARGET GROUP OF STUDY

The study has focused on following target group of individuals

Working Woman: Nowadays working women earn wages and salary which
has become a modern phenomenon and comprise the major population in
aiding family well-being along with paid employment for men. But they face a
lot of inequality at the workforce. With expenses and inflation rising, cost of
living going high, education for children becoming more competitive, pursues
both partners to work together to take care for family well-being. Earlier
cultural and religious practices along with legal and educational conventions
restricted the entry of women and participation at the workforce. Lack of
higher education to women gave them less access to well-paid and high
status jobs. Both men and women are sharply divided in different proportions
in economic sectors because of gender grouping in jobs. This exists due to
traditional association of a particular type of work to a particular gender.
Business Woman: Women in business are also known as “Women in
Management” or “Women Entrepreneurs” in usually male dominated areas.
Women also have found themselves to be very passionate of starting up of a
business with dedication and hard work. Business woman generally is
employed in business and use their skills and knowledge to manage
resources. Women entrepreneurs manage their wealth better which creates a
social impact. This includes investment portfolio and philanthropy that help
them be better business woman. With many changes and developments
across the globe, it is seen in many small and medium businesses are
growing hence it becomes a communal authority endeavor that will enhance
and go too far for fresh structures. All this makes them have better business
responsibility.
Housewives: Women who are housewives are the ones who are looking after
the welfare and well-being of the children and parents. They are also the ones
who look after daily household affairs and responsible to take decisions
related to household expenditures. Their main duties include caring for her
children, buying, cooking, cleaning and maintenance of the house.
Housewives are usually dependent on family members at home while their
41
partner or other men are working. The Indian traditional way of looking at
women is generally as a homemaker and the ultimate welfare of the family
and society.
Working women group was further classified into the following categories for
further research in detail:
Women working in Private Firms: Multi-national companies (MNC’s) and
private firms are hiring a lot of women based on their skills and qualifications.
This is done to curb the gender issue existing in the male dominated society.
A lot of companies have developed positions particularly for women so that
have equal rights when it comes to earning money and the entire economic
development. This not only gives women a sense of confidence to go out and
make an earning but also the independence to financial decision making.
Private companies have developed functional roles for women into human
resource management (such as recruitment and staffing), financial
management (such as banks and insurance), information technology, etc.
Human resource is one of the most explored and liked jobs by working
women. MNC’s have also developed positions where women management
roles. Further classification of roles is given below:
Human Resource Executives and Managers: Human resource
management is the most explorative job by women. They have functional and
management roles such as recruiters, staffing executives and managers,
payroll managers, learning and development managers, appraisal managers,
training managers, etc for the employee development, progress and welfare.
Women’s nature and behavior of being intuitive, good listener, emotional,
unbiased and with reasonable decision making they help search suitable
positions for the organization. Right from handling salaries, wages, training,
development and skill management they also look into the personal
development of the employee working in the organizations.
Banking Executives and Managers: A lot of women play the role of cashiers
and tellers in the banking industry. Earlier studies and research have statistics
which show that women are more honest and trustworthy in financial matters
unlike men; hence a lot of women are employed in such financial roles.
Though the responsibility includes huge cash management and accounting
yet they manage to fulfill the requirement for that particular role. Their good
42
management skills prepare and formulate the critical aspects of the role. Most
of the women end up in a cashier role or tellers due to fixed working hours
and good money management.
Professors and Training Managers: Women have the following qualities
such as being nurturing, supportive, intuitive, sensitive and communicative.
Such qualities and being soft spoken many of the women have an opportunity
to work in schools, colleges, universities as teachers, lecturers and professors
or visiting faculties and trainers. These qualities also enable them to be good
orators and speakers ruling the country or world to move the masses with
charisma and power of the words spoken. This not only makes them
wonderful and competent but also inspiring other women around. With good
communication and delivery of speech they lead a very alleviating and
sustainable growth for them as well as the community.
Secretary and Admin Assistants: As discussed earlier many women have
less opportunity as careers as compared to men due to cultural factors such
as marriage, parental responsibility and not being able to strike balance
between work and home. They tend to take up less qualified jobs such as
secretary and admin assistants. This may be due being less educated or
having basic degrees, getting married early and not being able to maintain
balance at work and home. Also after marriage look for fixed working hours
which are provided in such roles. These roles include basic secretarial
responsibilities such as keeping track of daily appointment book of their
managers, travel schedules, basic accounting responsibilities, basic admin
responsibilities and maintaining log books for attendance and number of
visitors.
Working women in Government sector: Most women tend to end up in
government jobs due to non-competitive nature of work, the pay and the
facilities they end up getting as a government servant. The best paying jobs
are that of state government than central government. Also for women there
are benefits such as maternity and medicals benefits in government sector
jobs which clearly scores more than private sector jobs. Government jobs are
less demanding, do not have targets and are so called “permanent and
secure” jobs. With these myths many women tend to join government jobs
thinking that they will have job security and will not have to face penalties for
43
non-performance. Also they feel more secured of having a job until retirement
and also good pension policies based on the pay-scale. Majority of the
women are generally not looking for high-end paying jobs and no harsh
targets which tend to become more time consuming in terms of working
hours. Main attractions towards government jobs are due to benefits provided
and job security. Roles that typically are found in government jobs are clerical
positions, civil service positions, doctors and nurses in government hospitals
and many others.
Clerical positions: In many government jobs, the most preferred position by
women is clerical jobs. In cities like Mumbai where women have to travel
longer distances for work that wake up early mornings, prepare food for their
families and then make their way to work. Position includes benefits such as
no time constraints, good salary, number of holidays and vacations provided
and excellent retirement plans (based on the pay scale, designation and
number of years of work). The responsibility includes workers to perform
administrative and other basic tasks in office, such as answering the phone
and sending out memos. The position basically includes basic communication
skills, basic office competence and just a high school degree (such as XII
pass). Hence women don’t need to be highly skilled or qualified.
Civil service positions: These positions provide you with prestige, respect
with the liberty to flaunt the VIP status and still manage time. One is well paid;
a number of perks are free compared to other positions such as a CEO of a
billion dollar company. It comes with great power with a very short period of
time which one can use for a good or bad cause. Apart from this there are
benefits such as Security for Liveliness, Security and Concerns for Lifelong,
Extra Payments and Time for Redeeming, Sabbatical Holidays, Modifications
in payment, eccentric Superannuation welfares. All these lucrative benefits
attract women to choose these positions and gain more respect within the
society.
Government Doctors and Nurses: Doctors and nurses are again more
respected job after civil service positions. And being a government doctor or a
nurse also has the same benefits as any other government job position. It
provides one with a stable job and salary along with perks like housing and
travelling allowances. Earning a good name with access to number of patients
44
and practice, allowing one to sharpen knowledge, thus helping one with a
professional growth and respect with the spread of work. There is no worry
about maintenance of the hospital, remuneration of oneself or staff with
regards to money targets, etc. Protection against medico-legal issues
because one is a government employee. Proper vacation and holidays,
therefore one can enjoy and spend quality time with family. Therefore with
these luring benefits, women tend to choose to be a government doctor or a
nurse.

Business woman: Female business person might be characterized as the

ladies or gathering of ladies who commence, arrange and co-work a
commercial endeavor. Legislature of our country has characterized ladies
business visionaries as a venture possessed and controlled by a lady having
a base money related enthusiasm of fifty one percentage of the capital and
giving no less than fifty one percentage of work produced in the undertaking
to women. The Indian ladies are never again regarded as show pieces to be
kept at home. They are likewise getting a charge out of the effect of
globalization and making an impact on local as well as on universal sphere.
Females are completing a magnificent activity striking a harmony between
their home and vocation. Ladies like these are a motivation for every single
other lady who endeavor to accomplish incredible statures in their lives.
Taking them as our good examples every last one of us can be there where
they are at the present time. All we require have is sureness in ourselves,
certainty or more every one of the settled point that we require effort in that
direction. A few fields of work of business woman are listed below:
Field of Social Work: Women have made a breakthrough intervention and
development in such field though at grassroots levels. Their work basically
includes configurations and campaigns that build sustenance, give enhanced
instruction and medical treatment, maintain the standards of manageability
and enabling other ladies in the cities and rural areas against gender and
opportunity issues.
Field of Education: These women have dedicated their work to strengthen
education systems through new ideas, engaging techniques, and learning
networks. They put in a lot of efforts to maximize entrance to corporeal

45
laboratories and simulated educators, great caliber and minimal effort
instruction with versatile developments.
Discipline of Entrepreneurship: Women over the period of time have
broken the stereotype of the society when concerned with women
entrepreneurship and have developed visible roles models and mentors for
the younger women. The emergence and growth of business woman has
strongly affected added to the worldwide financial system and their
encompassing groups. They have proved to be agitators and constrained
others to relook the way ladies can work together, significantly reshaping the
level of respect for women and creating new social, for profit language across
the country.
Field of Television and Film: These women have again broken the norm of
the society where television and films are considered to be the not so good
industry as concerned with women. The society used to look upon these
women with less respect and would disgrace their work. As times have been
changing women have entered this field as not only actresses but also as
producers and directors and have achieved a mark of respect and name. With
this industry growing rapidly and making a good affect in the economy women
also making their way to be successful in the same direction as men. They
have proved to the society that they also take care of hectic schedules at
work, stay late nights and still manage the well-being of their family.
Field of Fashion: Women are always looked upon as the creation of beauty
and elegance. With many poets who have described women’s beauty to be
one of most influencing factor in her character, women have made this as an
advantage of work. Women fashion designers every year contribute and
participate in the beauty contest with their creation or work and give the
society a different dimension to view. Some of them have earned great
respect with their work and earn a good living with designing clothing for
different occasions.
Field of Authors and Publishers: There are a lot of woman who have put in
hands in creativity of writing. From writing and publishing books on social
issues to imaginary novels to textbooks for education they have gained
immense visibility in the society as authors and publishers of their work. They
have for several years struggling to voice out their emotions and creativity to
46
the world. It’s good to see a lot of growing numbers in this field as many
institutions are giving them the power of writing and encouraging them to
express their views and opinions.

Field of Small and Medium Scale: Many housewives are joining hands with
social working group and other NGO’s to earn their living. They may not be
educated or received very minimum education due to family issues and
financial conditions. Such women strive to give their family and children a
good life in spite the other partner working. They either have been motivated
themselves or by the social working group to earn a living with small
household businesses. They have started businesses in tailoring,
merchandizing, home-made items (such as pickle and papad), weaving,
embroidery work, etc. With the help of different vendors or agencies or
institutions they sell out these things into the market and make money.

47
 1.8
EXPECTED OUTCOME OF THE STUDY

The research study will deliver the approaches that one can take to educate
one individually as well as mass of people. Also the ignorance of people
would be addressed on issues such as use of fixed deposits, bank deposit,
post deposits and insurance policies. Also this study will help in empowering
women of all groups whether working or non-working to take independent
decision on sources of investment, mode of intent and different methods for
the deployment of right financing. Even making these women minimize
dependencies on family, friends, relatives, colleagues and society while taking
any financial investment decision.
Also the outcome of the study will be based on the findings and its analysis on
the survey question asked to both individual women and women working in
banks. This will ensure to remove the gaps that persist in the level of
understanding in monetary literacy. The study will also help policy-makers to
plan for formal education of women and other too at school and college level,
right understanding about the use of money and finance, the need for media
in promoting and advertising financial products and explaining the investment
mechanism and rate of returns for a person to sustain a peaceful life.
The plan and process to make women stand on their own feet as well as
allowing them take decisions independently. And to boost their self-esteem
and self-confidence in making financial decisions at home and work. In order
to give security to the monetary interests and rights of women so that
government will be able to take financial disposition in terms of equal wages
at work, good working conditions, inheritance of property and job security. To
have good retirement plans and knowledge on pension funds. Survey to
improve in accomplishing parity of sex and ladies' authorization conjointly
needed attention on part of young ladies in different nations in exceptional
things, prominently in emergency and post-emergency things.
Administrative agencies and universal associations recognize that enabling
young ladies might be an impetus for accomplishing balance of all sexual
categories and in this manner the globally joined objectives and
responsibilities. In the past few years, there's bigger understanding that up the
48
standing of girls is one in all the foremost vital shifters of global progress.
When young ladies are taught and start working to support their family
monetarily and manage financial gain, variety of fine results follow: fatality rate
declines, kid wellbeing and sustenance gets better, farming profitability
increases, development moderates, and economies grow and cycles of
monetary circumstances are disconnected.

The effect of exchange on encouraging ladies' money related approval is

reliant on ladies' capacity to get to the belonging and prospects required to
exchange; to assemble resources and annihilation neediness; and
furthermore removal of disparities in sexes generally. Women’s monetary
authorization, therefore, can't be complete while not just regulative
frameworks, legal security, verificatory domestic establishments and policies,
governance answerability, independent contribution, communal safety and
shelter. Ladies' fare achievement might be advanced through proactive
organization and government strategies, as oppressive acquirement
arrangements setting focuses for sourcing from ladies claimed endeavors.
Apart from all this it was noticed that guiding and ability improvement region
unit essential not exclusively to benefit young ladies regarding profitability
however furthermore to fortify ladies' initiative and social control aptitudes.
Agents may assume a significant part as coaches and accomplices for ladies'
organizations. Males were as yet prevalent in commercial and their data can
be bestowed and arranges unlocked to help young ladies in commercial.
Recorded underneath are a number of principles and issues that were
increased from the exchange are given below.

A. Endorsing global exchange

• The contribution of women in send out arranged creation has the potential
for creating enhanced agent surroundings with expanded profitability and
extra practical working of the value chain bringing about dependable offer
of data sources.
• Females’ have a tendency to be unfavorably incorporated into three-sided
corporate greed frameworks and world value chains. The standard of their
blend ought to be enhanced.

49
• Growth of admission to efficiency resources and financial open doors for
underestimated groups and for associations of women are open doors for
women to frame cooperative energies, pick up transaction power and
assemble a significant mass for the investment of women on an equivalent
premise.
• Provincial coordination and open private associations should be expanded
as a technique to raised join young ladies into world value manacles.
• The dispersion or movement of individuals from their original land is a big
supply of exchange offers.

B. To accomplish ladies' monetary permission to proceed on the casual

part and small scale endeavors
• It is basic to concentrate not exclusively on business young ladies
however also on poor young ladies. Guarantee that there are genuine
open doors for fairness of sex for all young ladies.
• It is important to make genuine chances to concede ladies' entrance to
minor and medium undertakings and elective property development
openings.
• Females’ entrance to business sectors, as well as native and international
procurement opportunities, ought to be exaggerated.
• Women ought to even be supplied with higher provisions to plans of action
for development, and additionally good examples coaches, still as abilities
and apparatuses to rescale their organizations, each for genuine
employment creation and for quantifiable monetary effect.
• There is furthermore a want to change young lady business visionaries to
figure and exchange from where they're inside the world to help curtail the
natural weights of development and tourism.

A. Broaden duty on the far side policy manufacturers

• Administrative agencies, common society associations and elective
improvement on-screen characters will encourage create the conditions for

50
 showcase young ladies to release their potential, and also by connecting
country makers to city marketplaces.

B. For strategy creators

• Though exchange understandings set exchange rules, governments have
assumed elective universal legitimate commitments that speech (or May
likely speech) sexual categories issues in exchange on transient worker
privileges.
• A duplicate pathway with an approach that advances exchange and
balance of gender should be essential to the approval of young ladies and
it's a superb probable to add to lessen poverty.
• A particular suggestion to arrangement producers is to think the sexual
orientation viewpoint into the exchange understandings and furthermore
the different strategies and methods.
• It is crucial to utilize global work rights and center work guidelines to ladies'
work, particularly, once the main part of the world's working young ladies
are dynamic inside the casual division.

C. For the individual part and common society associations

• The cases demonstrated that open private associations offer open doors
for women to be coordinated into the get together worth chain.
• Another recommendation concerned "positioning" undertakings
maintained their consistence with work measures
• Fruitful cases from round the world have indisputable that activities from
common civilization may construct a huge qualification inside the lives of
young ladies workers and colossally enhance their capacity to attempt to
commercial.

D. Companies that do not make profits and ladies' associations are

instrumental in offering help to ladies possessed organizations to compete
inside the universal worth chain, in this manner rising sourcing decisions
and encouraging assets monetary procedure.

51
E. Finished organizing, all organizations are presented to significant data not
off base marketplaces, subsidizing decisions, business administration
devices, inner control assets and finest performs for climbing processes.

F. The utilization of "cutting edge" innovation will pack the acquirement cycle
and conquer some of the typical obstructions to exchange.

G. Responsibility should be the focal point of a prominent procedure

It is crucial to help the viewing and investigation instruments, to affirm that
exchange comes and exchange ways address sexual category issues,
which may cause the blending of women and option underestimated
groups into global value chains and three-way mercantilism frameworks.

H. Administration will encourage empowering of females with prohibitive and

arrangement systems in monetary course.
I. The benefactor group and furthermore the universal group at huge should
refrain in to the effect of exchange transactions on women and furthermore
the feasible hostile systems.

Benefactors and furthermore there are multiple associations who assume a

major part in advancing higher working conditions for women. One vital part of
such strategies is that the survey and up-scaling of existing projects that go
for expanding ladies' entrance to financial chances, such as praise, terrestrial
and marketplaces and supposed sexual categories focuses in their national
spending assignment. In order to hustle up the strategy for basic
transformation, better access to capital for exercises with focused potential is
required and such new subsidizes should be available, especially for women.
Strategies should be supplemented by aptitudes advancement for women in
specialized and social control subjects, access to innovation, arrangement of
particular framework and access to sources of info and reinforcing of
privileges of females to arrive, in order to attain women’s financial
authorization.

52
 1.9.

STRUCTURE OF THESIS

The structure of thesis will be in following sections:

A. The first section will have the basic pages like
• Title page
• Declaration of the candidate
• The certificate been issued by the Guide
• Acknowledgement to all those who have contributed
• The abstract of the Thesis in short – the complete overview of the study
• Table of Contents for each topic which creates a map for the entire study
• List of Figures created during the study – All figures are captioned
• List of Tables created during the study – All Tables are captioned
• Abbreviations that are used during the entire study

B. The second section will be the Introduction Chapter which will include:
• Introduction to the topic and the background
• The Problem statement – the problems and issues faced by different sects
of women for which the study is been conducted
• The rationale of the study
• The main principles of the research work– these main principles of the
research work will lead us to the study and expectations out of the study
• Research Hypothesis – The hypothesis will be statements that should be
proved true or false based on the survey conducted by working women
and housewives. The study will be followed by the Data Analysis.
• Purpose of the study will be briefly detailed in this section as to why this
study needs to be done
• Target group of the study will focus on the individuals and the functions
and people that will be involved and will contribute to this study
• Expected Outcome will tell us the result of the study and how and where it
will be used.
C. Review of Literatures that were studied – Journals and books referred

53
D. Research Methodology which will have the approach, tools, techniques,
procedures used to analyze the data of the study collected. The research was
conducted by Interviews, focused group techniques, survey, etc.
E. Data Analysis – The survey that will be done for individuals who are
working women and housewives. The personal interviews that will be
conducted will be under this section. The hypothesis will be tested once the
data is collected after the survey.
F. Case study will be designed under this section to show case
• the gender gaps in financial decision making
• Dependency on family and other members of the family for use of money.
• The case study will highlight gender gaps and how women are dependent
on family to make decisions related to money and importance of education
of finances.
• The employment issues related to gender gaps in financial decision
making and overall importance of money and financial literacy.
• This case study will help women to understand the significance of
monetary understanding and education. It is also an essential to stand
independently to make use and decisions with respect to money and
finances.
G. Results and Discussion that will be the outcome of the study
H. Summary and Conclusion will include
• Summary in short about the detailed study
• Suggestions will be highlighted here to showcase post study. These
suggestions will help the target audience to study further in detail
• Further scope will tell us the areas that can be covered in future
• Restrictions of the research work that bounds the research work
• Contribution of the research to the outside world. The contribution to the
community will be highlighted here after the detailed study of the thesis.
The contributions will go to the individuals who are working women and
housewives as well.
I. References and Bibliography which are referred while the study
J. Questionnaire that are been prepared for individuals, who are working
women and housewives and also the interview questionnaire.

54
 CHAPTER 2
REVIEW OF LITERATURE

1. Sandra J Huston [2010], the author talks about measuring financial

literacy. Author mentions that measuring financial literacy is important to
understand the impact of education as well as roadblocks. It helps in
highlighting the current limitations and helps researchers in coming up with
standardized, commonly accepted financial literacy instruments.
2. Carmen Morcos, JenneferSebstad [2011], the authors have stated how
financial education prepares adolescent girls for their financial future. Within
adolescence, it's necessary to acknowledge the internal diversity of women,
their wants, vulnerabilities, and evolving capacities. Financial education could
be a strategy which might be used across all segments whereas it's
necessary for all women especially for the foremost vulnerable women.
Financial education additionally introduces ideas of assets, capital formation
and wealth creation. It contributes to asset building and helps ladies build an
understanding of principles around smart cash management, promotes
awareness of personal money problems and selections, and develops
knowledge, skills, attitudes, and behaviors to manage day to day expenses,
life events preparation, set money goals and develop methods to attain them.
Ultimately, it makes women to become good financial decision makers as they
come in adulthood. Like different program methods, financial education ought
to be tailored to completely different age teams, vulnerabilities, and needs. To
have more impact, it ought to additionally complement different adolescent
women programming methods.
3. Tan Hui Boon et al, [2011], the author states how monetary education
enriches the understanding of personal planning in Malaysia and how
development may be influence financial literacy. It is found that financial
literate individuals focused more on personal finance planning to handle the
risk associated with poor financial planning. Author also confirms that financial
planning is a useful indicator of an individual’s financial decision.
4. Dr. Syed Tabassum Sultana and Prof. S Pardhasaradhi [2012], the
authors examined the extraordinary increment of exchange far and wide has
been seen. Two overlap figure of budgetary improvement realizing savage
1
contention. This has quickened speed about advance concerning delineation
of an eventual outcome inflow about remote prompt endeavors require get the
opportunity to be a striking measure for Investment. Improvements are
improved the situation both shaped and creating countries for venture done in
remote nations. Moreover remote speculators putting resources into
resources of various nations thusly require get instrument from guaranteeing
Global venture. Creating financial nations all through along these lines,
watching and stock course of action of all instrumentation might be upgraded
however do have enrolled amazing advancement toward beginning from
asserting venture done in outside nations. In the event that we catch most of
the venture done in outside nations inflow, making countries at introduce
speak to basic development about speculation done in remote nations.
Outside speculators are putting resources into resources of various nations
and venture is done outside of nations don’t simply accommodate affirmation
on remote capital but additionally gives down home countries with best
innovation, required capacity sets, instrument from guaranteeing change.
Moreover extraordinary essential capacities and the plans drafted to animate
those surges of remote capital on to India. Given much vital boost for India to
create concerning delineation an appealing end to outside individuals
alongside outside instrument ought to be produced. For instance, overall fiscal
prompts, venture done in outside nations and Foreign financial specialists
putting resources into resources of various nations, change scale. Additionally
in many factors for instance, intrigue and supply, feature top generally drive. It
likewise manages the Indian offer exchanging framework. The present
examination makes an undertaking to research the affiliation which is an
impact of speculation done in outside nations and remote financial specialists
putting resources into resources of various nations on Indian securities trade
using quantifiable relationship coefficient and multi backslide. Monetary and
Investment companies were seen as comparably as those illustrative for
securities trade concerning outline they require help. Most by far conspicuous
Indian collateral deal lists numerous things. Data starting from over a
significant time span year may have been discovered that those streams from
asserting speculation done in outside nations and remote financial specialists
putting resources into resources of various nations may have been moving in
2
combined with monetary and investment companies. Those consider
completes that flood of venture done in remote nations. Moreover outside
financial specialists putting resources into resources of various nations on
India that decides the example about Indian offer exchanging framework.
5. S. Sarumathi and Dr. K. Mohan [2011], the authors have explained about
financial offices of elements or gatherings who might then have no different
assets of ahead of time finances in smaller parts is a class of speculation
arrangement that is given to jobless or low income. The contemporary
execute to battle inadequacy and for wide open advance as small capital
matters through Self Aid Assemblies(SAA) has been unsurprising universally.
To approve females the key intention is miniaturized scale financial.
Approving females and creating cognizance which at last outcomes in viable
development of the nation. Miniaturized scale financial matters and SAAs are
agent in plunging lack. In females' approval are reflected into three extents in
particular psychosomatic, public and prudent. In this paper the pretended by
study of finances in smaller parts. The Purposes of the instruction is 1) the
proposition for the change of females' approval in SAA's. ii) To look at the
liberty of females partners get in SAA’s, 2) To analyze the approval of the
females expressively, monetarily and collectively 3) To perceive the
introduction of SAA's iii) The instructive troubles of females partners angle in
SAA's, Both Primary and optional measurements are utilized by the field parts
which is accepted by training. Essential measurements are included from a
field audit the training region. Auxiliary insights are formed from non profitable
organizations insights and extra archives. The examination and cross plan for
examination object are the straightforward affiliation steady procedure of the
specialist has utilized extent. The three highlights between wide open females
our Investigation displayed that there is a moderate development on the
whole. In income creating exercises the non profitable organizations to start
up with extra instructional courses from the correspondence among the
litigants it is watched that specific partners are eager. In numerous
preparation programs all they require is away to advance their civilities and
aptitudes by contributing. Collective approval among wide open females as an
outcome of contributing in small scale financial aspects through SAA program
there is an unmistakable development in psychosomatic well being.
3
6. D. V. Lokeswar Reddy [2012], author expressed about the investment
exchange alludes gathering of business sectors and trades wherever the
furnishing and exchanging of values, securities and different sorts of
securities happens, either through official trades or via contradicted sell. The
marketplace responds contrastingly to different variables extending to
communal and financial supporting. Investment marketplace is a common
expression used to allude to a sorted out trade where offers of investments
are exchanged. The development of securities exchange relies upon the
typical well as the nonsensical conduct of the financial specialist. The
investment costs of cited organizations are influenced either emphatically or
contrarily by various components happening inside or without the monetary
framework.
7. European Union [2012], the authors have narrated about comparability in
gender isn't just about financial approval. It is a moral definitive. It is about
equity and unbiasedness and contains numerous legislative, public and social
extents. It is additionally an imperative component in self-educated prosperity
and joy over the world. Numerous countries worldwide have made essential
advancement to decency in gender in learning in new periods. Little girls
today exceed children in a few zones of learning and are less inclined to drop
out of school. In any case, the precious stone is still just half full: females keep
on making not as much as males are less anticipated that would make it to
the highest of the activity positioning, and are more anticipated that would
spend their last ages in destitution. Segregation in gender implies not just
prior the huge guides that females make to the economy, yet in addition falling
apart years of benefit in showing little girls and youthful females. Influencing
the most extreme of the capacity to pool affirms that guys and females have
an indistinguishable opportunity to include both at family and in the workplace,
in this manner enhancing their prosperity and that of mankind.
8. Fredrik Cedarville [2012], the author has clarified about non-theoretical
investigation pertinent to investments, files, wares, upcoming demand or any
tool used for dealing and cost in impacted by the powers of free market
activity. Non-theoretical investigation has been connected to the investment
exchange for more than hundred years. As of late, the non-theoretical
investigation has turned out to be speedier as well as all the more intense due
4
to process assaulted estimations or representations. The test was to make
this money related building stride further and with help of stock value
determining make it smart and computerized.
9. Marty Gillen and Diane N. Loeffler [2012], the author has done a pilot
study to understand the knowledge and awareness on financial literacy
among undergraduate and graduate social work students. It was observed
that students are not having the required skills to take financial decision. As a
result, they will not be able to help their client in this domain. Financial literacy
should be included in the normal academic so that it will improve their
knowledge on it, resulting in making better decision and investment and also
improve socio and economic conditions of their customers.
10. PALANEESWARI and MS. S. V. SASIKALA [2012], the authors
explained that according to the present investigation the ladies strengthening
depend on various degrees: which is individual and money related
strengthening. Around two hundred ladies are independent work from wide
open. This lady endeavored to teach themselves. This lady was dissected on
both numerical and subjective information which were gathered by review.
The outcome says that independent work did make extra income as well as
aided monetarily. In this investigation it unveils that income, spending and
ventures of the individual previously and thereafter independent work shift
fundamentally. Independently employed lady are more autonomous and their
determination help them to make progress in their exertion. The investigation
additionally confirms that change ought to be in the position of ladies as well
as in the demeanor of the human progress towards them. Significance ought
to be essentially given to fluctuating picture of ladies, from a dormant
spectator, to that of a hopeful achiever. The recommendations of these
answers and the position of this examination are talked about.
11. Samveg Patel [2012], the author has narrated how unpredictability might
be characterized as how much resource costs tent to vacillate.
Unpredictability is the inconstancy or arbitrariness of advantage costs.
Unpredictability is regularly portrayed as the rate and greatness of changes in
costs and in back frequently alluded to as hazard. These abrupt market wide
value drops can't generally be followed to a particular news occasion. Nor
should this absence of indisputable evidence be viewed as in any capacity
5
odd in advertise enemy resources like basic stock whose esteem relies upon
subjective judgment about income and resale costs in exceptionally dubious
future. There are two schools of suspected that have different perspectives on
the reasons of unpredictability. The financial specialists in their fundamentalist
approach contend that these market developments can be clarified completely
by the data that is given to the market. They have endeavored to advance
speculations to clarify this marvel all the more still have attempted to utilize
these hypotheses to anticipate future changes in costs. They go ahead to
state that since the productive market theory holds, the data changes
influence the costs. Market instability continues changing as new data
streams into the market. Others have contended that the unpredictability has
nothing to do with monetary or outer elements. The issue of changes in
unpredictability of stock returns in developing markets has gotten significant
consideration as of late. The purpose behind this huge intrigue is that
instability is utilized as a measure of hazard. The market members likewise
need this measure for a few reasons. It is required as a contribution to
portfolio administration. It is crucial in the valuing of alternative.
12. Andrew C. Worthington [2013], after examining current financial literacy
program in Australia observed that there is much work to be done to improve
financial literacy. There is a need for ongoing research, especially in terms of
attempting to agree on a suitable framework and method of assessment.
Improvements is needed in financial literacy as there is significant disparities
in the level financial knowledge among certain socioeconomic and
demographic subgroups, particularly, low income workers, unemployed and
young people.
13. Aubid Hussain Parrey and Dr. Jaya Bhasin [2013], the authors have
stated how the contrast amongst men and ladies in the workplace has turned
into the zone of scholarly request out in the open and furthermore in private
setup. This distinction can be cleared up at the level of detachment on the
work showcase by the organization's bits of knowledge about female and
male staff. In spite of the fact that females have dependably had a huge part
in the economy, their commitments are not totally famous in contemplate.
females' work, especially in less pay rates in various nations, still the work by
female is been more into private area and in household segment, which does
6
not get immediate installments and as a result it is over and again banned
from money related exchanges. Study reveals that exclusion of sexual
category discernment is critical for the fulfillment and inspiration, promise and
interest and less pressure of the staffs. Out of sight, the present investigation
it investigates the issue of sexual category discernment in staff in concurrence
with discretionary work vitality put by man and lady representatives thus
giving valued propositions.
14. Dimple Tresa Abraham [2013], the author mentioned that Its very recent
that in Indian Government has made it mandatory to contribute toward the
Company Communal Accountability (CCA). Internationally this was years ago
implemented, and this is one reason why India is lacking behind on woman
empowerment and other social responsibilities. As Indian government has
made specific Commendations with the new companies for outlay on
Company Communal Accountability (CCA) and to wonder many companies
have participated. This has enlarged the possibility for meaningful intrusion by
business world in India near fighting many unruly parts and donating near
comprehensive development. The area of contribution might be near making
service chances over enterprise creation, mainly for women. Provision can be
prolonged as part of CCA to woman fit in to self aid assemblies and also to
individuals eager to arrive in to enterprise events. The provision could include
monetary, teaching and advertising. Enterprises can also be shaped below
the cooperative handholding through early stages. So we discuss the existing
CCA creativities particularly those whose support was given to self aid
assemblies for initiative creation and recommends expressive steps that could
be taken for women empowerment and financial growth by business houses.
15. Dr. Debesh Bhowmik [2013], the author has explained about conduct of
securities exchange is dubious, dangerous and probabilistic despite the fact
that it is connected with the major macroeconomic pointers of the economy.
The strength of money markets needs the solid capital market with high large
scale essentials. In the globalization time, the universal exchange assumes a
key part in changing securities exchange effectiveness in the regions of
keeping money and back. Unpredictability as a marvel and in addition an idea
stays vital to current monetary markets and scholastic research. The
connection amongst unpredictability and hazard has been to some degree
7
slippery, yet securities exchange instability isn't really an awful thing. Truth be
told, on a very basic level advocated instability can frame the premise of
productive value disclosure. The outrageous unpredictability in money
markets produces insecurity in the capital market; destabilize the estimation of
cash, and hampers worldwide exchange and fund. Indeed, the development
and the share trading system unpredictability are contrarily related where
causality was found. A created securities exchange ought to be essentially
more focused with some other global stock exchanges in which skimming
swapping scale instrument is resolved. The fiscal and exchange arrangement
of a nation critically help in discovering components of securities exchange
unpredictability to work appropriately in spite of the fact that the example of
conduct of financial specialists and savers of the partners are obscure where
the political super structure and procedure of the economy are given. In any
case, the political elements may change parametrically. This paper assessed
the investigations of the significant takes a shot at securities exchange
unpredictability on such multidimensional issues.
16. DR. K. MALLIKARJUNA RAO and H. RANJEETA RANI [2013], the
authors have stated about the Overseas Bureaucratic Financiers (OBFs) have
created as fundamental players in the Indian stock grandstand and their
creating duty incorporates as a basic component of the headway of stock
promote in India. To support remote capital streams, making countries have
been urged to fortify their securities trade. In this way, the Indian securities
trades have accomplished new statures and ended up being more flimsy
affecting the examination to work in this estimation of working up the
association among OBFs and securities trade flimsiness. This paper
influences an undertaking to develop a perception of the components of the
trading to direct of OBFs and effect on the Indian esteem promote especially
in picked fragments, despite relative examination of favored hypothesis supply
of OBF. Furthermore, during the time spent anticipating resource return
arrangement and determining certainty interims, the utilization of
unpredictability measure is essential. The present section gives a larger
survey of the value showcase instability. Covering regions that have gotten
the consideration of specialists and professionals alike. It intends to edifies
lenders and anybody intrigued by value showcases about the hypotheses
8
fundamental securities exchange instability, the verifiable patterns and verbal
confrontations in the field, and in addition the observational discoveries at the
front line of scholarly research.
17. DR. HIMANSHU BAROT and DR. NILESH B. GAJJAR [2013], authors
have examined the presentation of subordinates in India there has been
enormous development alongside this the hazard factor on exchanging is
likewise developing the market. With the evaluation of budgetary subordinates
it is reasoned that these business sectors contributed a great deal in dealing
with the monetary and money related dangers. The inventive practices
dependably make up for lost time the eyes of concerned individuals where
thoughts and development turn into the sign of advance. What's more, even
capital market is no distant from this, though budgetary subordinates have
given intense change in the development of the monetary market. The world
money related markets have experienced subjective changes over the most
recent three decades because of remarkable development of subordinates.
The most and key part and reason behind to present subsidiaries is limit or
dispensing with value hazard through supporting. Subsidiaries are
instruments which have no free esteem. Their esteem relies on the hidden
resource. The fundamental resource might be budgetary or non-monetary in
nature. Subsidiary items like fates and alternatives in the Indian securities
exchanges have turned out to be vital instruments of value revelation, portfolio
broadening and hazard supporting as of late. In the most recent decade,
numerous developing and progress economies have begun presenting
subordinates contracts.
18. Faoziah Haji Idris et al, [2013], concluded in his research that if many
people from Kuala Lumpur has high level of financial literacy they will have
low financial level distress level. To reduce financial distress level, financial
literacy factors should be increased by improving high productivity of
employee in organization. Organizations play big role in increasing level of
financial literacy level of employees by conducting training programs in
financial management.
19. G. Delina and Dr. R. Prabhakara Raya [2013], the authors have narrated
that the section of waged females has changed all through the world as a
result of fiscal conditions and social solicitations. This has realized a
9
circumstance in which waged females have enormous strain to develop an
employment as healthy as their male accomplices while supporting dynamic
engagement in singular life. The frequently growing work weight is bringing
about huge harm on the waged females surrendering them with less time for
themselves. The extending obligations on the individual front with the
mechanical endowments that keeps life at work facilitated with singular life
moreover influences weight on individual and master fronts in this figuring out
how to age. This impacts the person's physical, enthusiastic and social
thriving. Along these lines, achieving life at work modify is a requirement for
waged females to have a better than average individual fulfillment. This paper
is an undertaking to explore the outrageous troubles looked by waged
females in keeping up a congruity between their own and master life. The
diverse factors impacting the life at work alter of hitched waged females have
been dissected in this examination. Data were subjected to illustrative bits of
knowledge and it was found that the issues looked by the waged females with
respect to life at work change are high. These occurrences moreover exhibit
that the life at work alters of individuals’ impact for their own fulfillment.
20. Harshvardhan N. Bhavsar [2013], as per author studying and analyzing
the responses of school teachers in savings and investment patterns in a city
in Gujarat. In addition to this it also aims in finding the relationship between
savings and investment literacy among school teachers. Study was performed
on both government and Private schools teachers in a city in Gujarat. The
major impact on savings is due to the level of income the teachers have and
the amount they save for future needs.
21. Mohamed E. Ibrahim and Fatima R. Alqaydi [2013] examined financial
literacy among individuals staying in UAE and its relation to different types of
debts like bank loans, credit card loans, and loan from friends or family
members. It was found that financial literacy in UAE is very low. Individuals
with strong financial background borrow less from credit cards. UAE nationals
borrow more from banks than credit cards.
22. Nurul Shahnaz Mahdzan and Saleh Tabiani [2013] examined the
factors that influence individual saving with a focus on financial literacy in
Malaysia. It says that financial literacy is important for individual savings.

10
Government should introduce financial literacy education in schools and
colleges to improve individual’s financial stability.
23. Shyama V. Ramani et al [2013], the researchers narrated that lady from
different area have taken the business to other level. Today females are
contending with guys (hand in hand and shoulder to shoulder).
Businessperson needs 'spaces' for talk and furthermore to figure out how to
improve the business abilities. While approval of business, the action is
palatable under a few conditions, it can be harming under others, requiring a
case-by-case evaluation. Numerous exercises for ladies' strengthening in the
casual portion are just dynamic in sexually unbiased monetary development
software engineers. In this brief approach, we guarantee that however
procedure impedances might be palatable, they are neither required nor
enough for change, as fruitful ladies there are regularly the best chiefs for
broad change.
24. Sobhesh Kumar Agarwalla et al [2013], the authors have mentioned
how financial literacy among young working section helps influence the socio-
demographic factors. The engagement from governments and employers in
managing investments on behalf of individuals has reduced considerably
within the recent past as a result of changes within the social support
structures across the globe. This has increased individuals’ responsibility in
managing their own finances and securing their financial future. In
surroundings wherever the range and also the complexness of economic
product still increase, it's imperative that people develop nuanced
understanding of the globe of finance to be able to create choices that are
most acceptable to their financial goals and desires. Research from round the
world reports inadequate financial acquirement that raises serious issues
concerning the flexibility of people to secure their financial well-being. There is
proof that people under-save, fail to speculate showing wisdom and are
usually indebted. Such a behavior is additionally evident among youth, across
nations.
25. SUBHASH CHANDER and DR. D. D. ARORA [2013], the author
mentioned that in India ladies business is a gigantic activity to deal with yet at
that point if the ladies are taught enough to comprehend their actual benefits
they can effectively end up one extraordinary business person. The creator
11
said that, contrasting and other propelled nations, the ladies in our nation are
lingering behind and in this manner the quantity of ladies business visionary
are less. One of the significant downsides in India is that the general public
gives less significance to working ladies outside their homes and on account
of this ladies confront a great deal of difficulties amid their underlying new
companies or organizations. In spite of the fact that effective ladies has voice
against the lesser rights given to them there still by all accounts that needs
superior voice. The creator has completed a detail investigation of
businesspeople about the money related issues they have amid the start of
their business and about how they handle every one of those difficulties. The
creator finish up saying that ladies who have their own particular business
have less material and subsidizes, and have minimal known help for their
troubles.
26. Sumitkumar and Md. Anees [2013] examined the sample and observed
that it is possible to improve finance literacy in India since education is given
importance. Financial literacy can be easily improved by including related
material on financial literacy in general education conduced in schools and
colleges. Sociological factors also play an important role in the process of
making financial decision. As per author, concentration should be on young
investors as they have risk taking appetite.
27. Taqadus Bashir et al. [2013] examined the sample population from
Pakistan to study the relationship between financial literacy and psychosocial
factors. It was observed that relationship exists between financial literacy and
psychosocial factors like financial satisfaction, retirement plan, and risk
preference. Older, married and highly qualified males were more financial
literate. Business persons had more financial knowledge than others.
Financial planning has positive relation with gender, age, qualification, marital
status and retirement planning.
28. Wasana Karunarathne and John Gibson [2013], examined variations in
immigrants ‘financial literacy’ related to remittances and source of credit.
There is a wide difference in transactions cost of sending remittance from
Australia to Sri Lanka or pacific islands. Knowledge of financial literacy can
help in lowering remittance cost and save immigrants several hundred dollars

12
per day. Despite their financial stake in using lower cost methods, surveyed
immigrants have incomplete information on different remittance products.
29. A. A. Attarwala [2014] is discussing the role of SEBI in financial Literacy.
As per him, financial literacy is big step to remove poverty in India. For this,
government should favorable environment where SEBI can innovate new
methods to reach to low income people without impacting their profit. To make
financial literacy more noticeable, government should start financial literacy
program in school and college, websites & national campaigns should be
promoted.
30. Ani Caroline Grigion Potrich el at [2014], examined and concluded that
Learning finance is very important from financial literacy point for individual.
Factors important for financial literary are personal finances, demographic
variables like (Age, income, Gender, Location etc). It was observed that group
that has lower financial literacy consists of women who have dependent family
members, lower education level and income level.
31. Archana. S et. al [2014], the authors about the primary idea of money
related market is a market in which securities, items, and incentive at low
exchange costs and at costs that reflect free market activity. In that market the
securities incorporate stocks and securities, and wares incorporate valuable
metals or farming items. In monetary markets, oddities allude to
circumstances when a security or gathering of securities performs restricting
to the idea of effective markets, where security costs are said to mirror all
accessible data anytime. With the steady discharge and brisk conveyance of
new data, at times proficient markets are difficult to accomplish and much
more confused to keep up. A market oddity is a cost and rate of profit twisting
for a budgetary market that appears to contradict the productive market
suspicion. There are numerous market abnormalities; some happen once and
vanish, while others are ceaselessly. The market inconsistency for the most
part identifies with basic variables, for example, unjustifiable rivalry, absence
of market straightforwardness, administrative activities, and so forth. The
confirmations gave in that turn into the establishment of our examination
which brings out a want to research presence of such irregularities in wealth
space in the Indian financial system.

13
32. Aswini A. and Mayank Kumar [2014], the authors have mentioned about
Investment marketplace is viewed as an indicator of any nation's economy.
The share trading system goes about as an extension in obtaining the assets
from the financial specialist and the same is used with the end goal of
mechanical development and thus brings about corporate development. Being
a creating Country, India draws in an expansive whole of FII consistently.
These remote ventures greatly affect the economy of India. The part of
Foreign Institutional Investment has turned out to be unavoidable towards the
share trading system improvement. Indian Investment marketplace, which is
one of the pointers of the monetary status, is likewise being influenced by the
outside ventures made. So this examination has been done to approve the
invalid theory that this outside foundation venture being made in India
influences the share trading system condition and Indian economy also. An
expressive report has been done to approve the invalid speculation of
relationship amongst FII and Investment marketplace. The relationship
between these two has been kept an eye on yearly; month to month and week
by week premise and the information for same have been gathered for most
recent 10 years.
33. Dr. T. Muthukumaran and Dr. V. K. Somasundaram [2014], the authors
have clarified about causality connection between loan fee and stock returns.
The effect of loan fee and stock returns in India is contemplated, by utilizing
month to month information from forth month of 1997 to third month of 2014.
We have thought about large scale factors for the investigation. The
examination uncovers there exists here and now relationship among the loan
fee and stock returns through specific causality procedure. In the short run
outcomes demonstrate that there is no causality between loan fee and stock
returns. The investigation suggests that the loan cost neither influences stock
returns nor stock returns influence the financing cost. Therefore, the present
examination observationally demonstrates, securities exchange has no
connection with the development of financing cost in India and the other way
around.
34. Divya Joseph [2014], the author has stated about financial inclusion and
financial literacy. Financial inclusion is that the delivery of monetary services
at reasonable prices to huge sections of deprived and low income groups.
14
Unrestrained access to public goods and services is that the sine qua non of
an open and economical society. it's argued that as banking services are
within the nature of public good, it's essential that convenience of banking and
payment services to the complete population while not discrimination is that
the prime objective of public policy. The term "financial inclusion" has gained
importance since the early 2000s, and could be a result of findings. Active
participation of everybody within the financial set-up of the country is
requirement for the effective functioning of financial system. Financial set-up
facilitates that needs need cash and those who have surplus cash. Banking
habit is that the easiest method to enter into the financial set-up. Currently
conjointly there are 30% of the Indian populations are unbanked. There are
divergent demographic patterns, living standards, education levels and
financial gain levels as parameters of economic development. The rural India
is yet to see the developments and therefore the results of the planning
process. The division between the wealthy and poor is wide. On one hand,
attributable to relief, privatization and economic process of Indian economy,
there are a lot of changes within the banking field. Whereas on the other
hand, besides profit, social responsibility is additionally one in all the prime
agenda of commercial banks.
35. Haina Yuan and Shaohua Yang [2014], in his research mention that
financial literacy is generally low and is influenced by the level of education,
professional environment, family background etc. Ageing population is high
and they depend on pension system. There is a need to strengthen Pension
insurance, Personal savings etc. Study of relationship between financial
literacy and retirement planning is still marginal in china.
36. Jadhawrao Madhavi Sugaraj and Dr. Salve P.S. [2014], the authors
have stated that this examination depended on an investigation for
miniaturized scale, little and medium undertakings. The data found was
exceptionally constrained to give additionally investigation of the business
people who had set up their own particular endeavors. The Indian
Government has assembled specialists relying upon the commitment made
as far as value and engagement of workers of association. Hence, a female
activity is very much characterized by the method for "an activity had and
estimated by womenfolk who have less subsidizes with the enthusiasm of fifty
15
one percent of the important and giving at the scarcest of fifty one percent
administrations delivered through the cleverness of the womenfolk".
Representatives are gathered in three sorts :(I) claimed by females, (ii)
oversaw by females and (iii) utilizing womenfolk. Different Indian specialist
and in addition remote analysts has discovered less data in view of ladies
Entrepreneurship, the exploration had been done over the most recent 5
decades and it manage shifted circumstances. There are number of critical
work in light of female investigations over the propelled countries. All things
considered, in the event that we look at the social and monetary surroundings
winning in India with the propelled countries, the infrastructural comforts
accessible in India and the outside nations predominantly the European
countries vary enormously in work and business.
37. Javed Iqbal Bhabha et al. [2014], aimed to assess financial literacy and
its impact on saving-investment behavior of working women in Pakistan. It
was observed that people of Pakistan are financially illiterate and only one
third have knowledge about financial services and products. Working women
have good knowledge of basic financial concepts, but lack advanced financial
knowledge.
38. KAMAL GUPTA and JATINDER KAUR [2014], the authors have
mentioned that association for financial collaboration as well as expansion
characterized money related learning as a mix of budgetary mindfulness,
data, capacities, approach and exercises fundamental to influence sound
monetary judgments lastly to achieve particular financial solace. The matter of
financial information is of preferable worry in set up nations over the rising
countries. Fiscal learning developed removed more notoriety after the money
related torments and turn into the pre-essential with the goal to sidestep
financial fiascos by accomplishing financial immovability. The objective of the
training is to assess the level of familiarity with fiscal learning among the small
scale businesspersons in a state in India. An examination practice will be
utilized to accomplish the objectives of the preparation. Arranged study will be
computed as a device to evaluate the level of money related education.
Together information will be orchestrated utilizing excel from Microsoft office.
Engaging and inferential investigation will be utilized to overview the measure

16
of attentiveness with respect to money related training among small scale
businesspersons.
39. Manisha Raj [2014], the author narrated that Indian women are ideal
around half of the Indian people and they direct and furthermore round about
add to the budgetary parameters of the nation. Since ages an expansive part
of their financial duties have not been accounted and their unobtrusive
organizations have been disparaged. Abundant open door has effectively past
to see the piece of women society in the improvement of an economy and
figure out how to incorporate the common uneducated females in the
advancement system at the same time nearby the urban uneducated and also
trained females. All around it has been watched that females are more
required into little scale business practices as agents yet with time change
has been seen and they are moving towards different industries and sectors.
Furthermore usually wage business was seen in rustic section yet now
advantage and current regions are seeing the improvement of female pros.
Government has thought of a couple of sachems to redesign the part and duty
of women. This paper will research distinctive improvement prospects
budgetary reinforcing of women and highlight the main problems that square
these advancement shapes
40. Monika Aggarwal and Meenu Gupta [2014], examined sample size of
148 college students to identify the financial literacy level of college students.
In addition to this it also evaluates the influence of various demographic
factors like gender, discipline and level of qualification on financial theory. The
outcome will help educators, financial institutions to design financial planning
course accordingly so that respondents can achieve greater financial freedom
and are better equipped for retirement.
41. M.V.Subha and P.Shanmugha Priya [2014], in this research mentions
that financial literacy is a very important for the nations and individual’s
growth. Another area is to determine the most and least critical for financial
success and sustainability. It is observed that financial skills and knowledge
can be attained by trial and error method. Another research area is to focus
on gathering details of financial experience and characteristics. These
characteristics may be important influential variables in modeling financial
literacy among general populations.
17
42. Paul Munene Muiruri [2014], the author has stated about wealth space in
the markets have turned into a basic piece of the country. The way in which
securities are valued in the capital market has pulled in the consideration of
numerous analysts for long. This examination required to research the
impacts of evaluating of composed hazard in value supplies of the different
segments. The investigation will be of advantage to both arrangement
creators and monetary specialists to distinguish the particular components
influencing stock costs. To the speculators it will give helpful and sufficient
data a comprehension on the connection amongst hazard and return as a key
piece in building ones venture rationality. To the market controllers to set up
the execution against speculators' view of dangers and returns and henceforth
create methods for building financial specialists' certainty, the approach
creators to audit and strengthening of the lawful and administrative system.
The paper looks at the consolidated twelve fragment value collaterals of the
organizations recorded at the market into four divisions in particular farming;
money-making and facilities; Fiscal and Savings and Industrialized and Joined
segments. Deliberate hazard is the hazard characteristic to the whole market
or market portion. Methodical hazard otherwise called "unvarying hazard'',
unpredictability'', or "uncertainty in marketplace,'' influences the general
market, not only a specific stock or industry.
43. Prabha Singhla and Srivastava Anju [2014], in this journal author has
studied knowledge of working women on personal finance in Bihar. Author
used ex post facto research design to study. Author has performed his study
of personal finance on below four aspects. a) Investment Preparation b) Tariff
Method c) Monetary Crisis d) Preparation after one retires.
45. Priya Vasagadekar [2014], in this journal author is doing research on
investment behavior and patterns followed by women working in various
domains in Pune region. Author also says that Women have outgrown
themselves from Home maker to financially independent women who work
alongside men, know how to manage work life balance, get handsome
salaries. Though they earn handsome salary, they lack good knowledge on
investment. They do not know where to invest so that their money grows.
46. Rajeshwari Jain [2014], the author has explained about the position of
money related proficiency. The creator has inquired about for the money
18
related and fiscal additions and speculation example of the working ladies.
The creator has additionally attempted to discover the association between
the pay of individual ladies and what the pattern of uses and hypothesis in
light of the salary. The scientist has completed an intensive research to
ponder the example of theory in the private area utilized females. Likewise he
has examined the pattern of hypothesis for the utilized females in the
administration segment. The creator chose to have an example populated of
females with over two fifty count who could be overviewed. At the point when
the review was directed the aftereffect of the populace was sure. In the
conventional Indian culture, females constantly wanted to have gold and
brilliant adornments as a venture design. This pattern has been seen
spreading in this populace of study, it was watched that the females in
certainty wanted to put resources into post office settled stores or settled
stores in the saving money foundations as opposed to putting resources into
gold. The market today is eccentric and therefore the patterns of ventures are
appeared to be obscured. Despite the fact that there is swelling in the market,
it has been seen that the patterns of pay rates and earnings has definitely
gone upwards.
47. Chaudhary, Ruchika and Verick, Sher [2014], the authors stated that
The commitment of females in the business varies essentially from district to
nation, duplicating fluctuations in budgetary development, showing stages,
other accommodating offices and, in the long run, shared standards. Because
of all the reason, commitment of details varies altogether over the globe. The
developments in the lady work compel commitment details in a few nations
reveal a measure of puzzles. Less commitment of females in the Indian
business, particularly in field zones, which occurred regardless of tough
money, related improvement and expanding pay rates. these subjects is not
kidding on the grounds that: (I) Woman work quality commitment is a driver of
improvement and in this manner commitment details assign the potential for a
nation to develop; (ii) in numerous countries, commitment of females is an
adapting gadget which ascends in answer to money related tremors that hit
the residential; and (iii) commitment is a defective marker of ladies' budgetary
strengthening. To recoup work commercial center outcomes in countries like
India, govern impedances ought to reflect both free market activity, which
19
including refining access to and hugeness of instructing the software
engineers, supporting childcare and other association hirelings to facilitate the
heap of local duties, wellbeing for females, and motivating private section
development in organizations and territories that would rise occupation
chances for females in creating countries.
48. S. UMAMAHESWARI and M. ASHOK KUMAR [2014], examined
Coimbatore based salaried investors to identify the relationship between
investment options, investment decisions with demographic factors like age,
Income, Locations. Author also mentions impact of demographic factors on
Investment criteria, Investment awareness, Investment attitude and
Investment returns.
49. Vinesh [2014], the author stated that from the past time a ladies work is
thought to be related just in the family tasks and less in the outside world. In
spite of the fact that it has change after some time, there are as yet numerous
societies who kept ladies indoor to do family unit obligations like cooking,
cleaning, washing, raising kids and so on. Because of industrialization,
modernization and globalization, the status of females is changing quickly and
it has affected the status of Indian ladies also. Because of new information
shared from other culture Indian ladies has absorbed in their way of life from
outsiders or through movement. Ladies workforce has change from family
tasks to representatives, educators, specialists, build and so on. Ladies
started to grope more liberated to take parts which are thought to be just for
male people. In this present period, for the most part in the created European
nation’s ladies has been engaged with taking unsafe organizations and they
had turned out to be effective also. Females are presently prepared to make
their own particular business exchange and are prepared to contribute for the
improvement of their countries. Moreover, these fruitful specialists are
exceptionally perceived in their individual society and had turned out to be
capable; accordingly, they enabled other ladies to build up their own particular
business. In any case, representatives confronted a considerable measure of
difficulties in their underlying new businesses of their business on account of
the other huge organizations; there is high rivalry in the market.
50. V. MATHIVATHANI and Dr. M. VELUMANI [2014], the authors have
mentioned about small sponsoring Self-Aid Assemblies is a controlling device
20
to link the break between the administrative requirements for countryside folk
and the ladies in countryside India. In the extended trip of the presence of
Self-Aid Assemblies in various parts in the nation, countryside females have
played an essential role and have performed as leaders for the liberation and
authorization of the females. Since the beginning of such collections in the
countryside set up females have observed forward for a real front-runner to
authorize themselves in countryside atmosphere. Studies have quoted
choosing leaders for SAA’s, “associates keep in attention the practical
features of the SAAs, objective of starting SAAs, and other individual abilities
particularly performance of the associate with others and morality. In this
paper the writer efforts to debate how despite of the bad tactic and not being
adequate standard to link sex flaws it is exciting to find that actual front
runners in countryside zones have cheered mobility, enlarged safety
instructed the skill to type minor buying and have cheered participation of
main choices.
51. Azadeh Barati et al. [2015], the authors have stated that in divinity,
culture and duties is the assortment of India traditional nation. Domestic
problem in country is mostly to be household and incomplete role of the
females. In the subdivisions like nurtures, medics, educators the caring and
development in some cases females can find service. Additional preference
will be assumed to a male of the same qualification. But even if highly
qualified females managers or engineers or geologists are obtainable. The
influences preventing female workers from ambitious for higher post and tasks
& difficulties faced by female workers recognize the current education
investigated. Indian employed females and also make an effort to clear key
difficulties of employed females thus the Additional education try to clarify the
actual situation.
52. Bożena Frączek and Monika Klimontowicz [2015] examined young
customers of European countries during 2013 and 2014 period to find the
awareness of financial literacy among them, decision factors to decide on
investing in a particular option, and correlation between them and basic
financial knowledge and skills. It was also observed that young economists
who achieved satisfactory scores in finance literacy, still makes mistake in
area of finance. Some take decision on emotion grounds instead of financial
21
knowledge and skills. Higher the level of financial literacy, better financial
decision makes ability.
53. B. Thulasipriya [2015], India needs very high rate of investments to
make a bound forward in efforts of attaining high level of growth. Since the
beginning of planning, the prominence was on investments the primary
instruments of economic growth and increase in national income. It is
observed that salaried group nevertheless of age and annual Income, besides
their occupation and marital status they used to prefer the investment option
which will provide the long term benefit and highly secured cum profitable
avenues.
54. Deepak Sood and Navdeep Kaur [2015], this research study is to
determine the relation between the savings and investment pattern among the
salaries people in Chandigarh. It is observed that there is relationship
between Annual savings and age, Income, sector wise employment. It is
observed that standard of living of the people is increasing day by day hence
salaried class people have started realizing the importance of savings. They
avoid spending on heavy luxurious life style and prefer normal living standard.
55. Dilip Ambarkhane et al. [2015], examined college student to find the
Financial Literacy Index of college student. It will help to identify the changes
that are needed in educational inputs to improve financial literacy among
students. As per author one of the reasons for financial crisis is due to
insufficient knowledge of financial literacy. Improvement in financial literacy
will help in the upliftment of individual’s financial status. It takes a review of
measurement aspect of financial literacy. It also takes a review of financial
literacy measure taken in the country.
56. Dr. R.C. Yadav [2015], the author mentioned how India has dependably
been a male predominant. Ladies builds up for half of the populace in any
case, but only twenty six percent of lady has the workspace. Lady staff in
private part is more than common segment. This proportion was less because
of culture contrast for men and lady in India on the grounds that according to
rules lady are homemakers and they ate expected to deal with the family.
Whereas men should acquire and bolster the family as far as back and
assuming liability of work outside the house. The huge blemish was
disregarding the lady instruction exactly occupation arranged educating.
22
Contribution of lady, associated with cultivating and comparable exercises,
was not figured as individual information and it molded the piece of family
income. Lady staff commitment additionally recoups wellness, in this way, life
suspicion. Culture changes in Indian human advancement will give support
circumstance to lady. Ladies showing level should rise and especially
expertise development through specific and word related preparing and
occupation arranged advancements. Proportional opportunity to work and
equal compensations for comparable work will build certainty of females’ and
move them to be a piece of working tenants. Innocuous and safe utilized
circumstances motivate females for benefit. Government should forthright
have software engineers to enhance women commitment at all stages.
Private fragment ought to likewise move women to contribute at work.
57. Dr. (Smt.) Rajeshwari M. Shettar [2015], the author mentioned the
status of Women Empowerment in India and highlights the Issues and
Challenges of Women Empowerment. Today the fortifying of women has
ended up being a champion among the most basic stresses of 21st century.
Nevertheless, in every practical sense women's fortifying is up 'til now a
fantasy of reality. We find in our regular daily existence how women wind up
deluded by various social wrongs. Women Empowerment is the basic
instrument to develop women's ability to have resources and to settle on key
life choices. Reinforcing of women is essentially the system of upliftment of
fiscal, social and political status of women, the for the most part
underprivileged ones, in the overall population. It is the route toward guarding
them against a wide range of viciousness. The examination relies upon totally
from discretionary sources. The examination reveals that women of India are
by and large weakened and they acknowledge to some degree cut down
status than that of men ignoring various undertakings endeavored by
Government. It is found that affirmation of unequal sexual introduction
measures by women are up 'til now winning in the overall population. The
examination completes up by recognition that access to Education,
Employment and Change in Social Structure are only the enabling factors to
Women Empowerment.
58. Dr. Jaideo Lanjewar [2015], the author has mentioned that the
examination demonstrates that female contributed the family hugely in the
23
monetary administration of the family. They utilized their own strategies for
fiscal assets administration like humble spending design, by keeping notes of
regular costs, ventures and funds. As indicated by different sources it has
been specified that ladies are occupied with different vital piece of the house
in the family as well as they give monetarily to the family pay. The
commitment of the utilized ladies in the family fiscal costs builds the way of life
in the family. Most Indian ladies contributed the family by doing housework
like cooking, washing, cleaning, dealing with the child and so on however this
are unpaid work it nearly is imperative as gaining a salary in coordinate
organizations by their male accomplices. Besides, ladies are viewed as
multitask specialists who are master in taking care of housework and in
addition office occupations. At last, this examination expresses that the family
and different individuals from the family have impact on the sorts of venture
made.
59. Dr. Saba Yunus and Dr. Seema Varma [2015], the authors mentioned
how information is critical to numerous things around us. It gives us more
opportunity in settling on profitable choices and furthermore makes us skilled
to sort out lives. And the greater part of this is conceivable just when society
gives level with opportunity to men and lady. In these way ladies
strengthening is a method in which ladies experience the present principles.
Lady strengthening has rung a bell over the globe. According to Indian
structure it affirms that there might be no oppression in gender. There are
numerous legitimate prerequisites made for ladies security and strengthening
in Indian Structure however the mockery is, half of the occupants are
unconscious of their legal rights. So today we will banter about the noteworthy
legal necessities for ladies strengthening in India.
60. Dr. S. Prabhu and Dr. F. Elayaraja [2015], the authors explained
Financing to little and medium scale undertaking is known as little
underwriting. This offers expert to the present ladies to begin something of her
and offer a hand to her home and in addition her general public in term of
back. This training gives her more fearlessness, regard among others, choice
taking capacities, and certainty. Her cooperation in successful income age
things shows signs of improvement hold on basic leadership aptitude. This
examination depends on ladies who utilizes small capital to run her family,
24
how do this work for her, how a small capital can change her life, in what
manner can a lower and white collar class ladies can roll out an improvement,
how things will function for her.
61. Faboyede et al. [2015] examined and observed that financial literacy
education should be given importance by each individual, private
organizations, and government bodies to overcome poverty and improve
countries development. Central bank of Nigeria can do lot more to improve
financial literacy education. Financial literacy should be included in schools
and colleges. Special programs should be decided for female gender. Private
and government should also participate in the implementation of financial
literacy programs.
62. K. Parimalakanthi and M. Ashok Kumar [2015], author wants to study
Individual investor’s behavior residing in Coimbatore towards investment
options available in Indian financial market. He also studies different factors
affecting investment decision to identify the risk with respect to demographic
variables.
63. Lavanya Rekha Bahadur [2015], the author has mentioned how financial
literacy is of utmost importance for any country’s economic growth. Financial
education is a crying need and a two way process; where financial education
is taught and in turn we learn what ‘Real India’ is. Financial inclusion is the
focal point of the paper which can prove to be the guiding star for the overall
economic development for the nation. The turbulence being faced by the
economies across the world, including India, has called for a new wave of
reforms to reverse the worsening economic climate of the country. Throwing
light on the Indian financial perspective through the eyes of emerging
economies is the central focus of the research, as the country has vast
resources and potential with a major advantage of highly skilled professional
workforce pitching the country to be now recognized as one of the fastest
growing economies of the world.
64. Lereko Rasoaist Kaleba and M Kalebe [2015] observed that gender is
important to determine financial literacy level. Female students have less
financial knowledge compared to male. Location, Age did not have impact in
finding the level of financial knowledge. To reduce the financial literacy

25
understanding gap between male and female, government should introduce
financial literacy program in school or college itself.
65. Matewos Kebede et. al [2015], The authors point of this article is to
demonstrate an audit of latest research done on financial education and
connected topics. Beginning with ponder done on introduce days monetary
literateness and economic management. Today social orders in cutting edge
world lacks the basic information, capacity and demeanor for individual cash
administration choices this turning financial proficiency. Individual cash
administration instruction is imperative in the present quick life or individuals
wind up doing tremendous misfortunes by putting into wrong thing in which
they don't have information. According to most recent review done from
creating nations it is been affirmed that money related education is the
fundamental driver and the vast majority of the casualty are jobless
individuals, females, individuals who are uneducated or less proficient,
individuals living in immature region, individuals who are from low pay
gathering, individuals who are less qualified and so forth. Hardly any
examinations are discovered that absence of cash administration are high in
country regions where they never discover a source or any establishment
from where they can learn or begin about dealing with their back so they
generally oblivious. Individuals should step up and begin adapting new thing
about speculation so they can develop and improve their upcoming life and
make it better.
66. Muhammad I. Albeerdy and Behrooz Gharleghi, [2015], objective is to
investigate the factors influencing the financial literacy among university
students in Malaysia. It was observed that there is important relationship
between independent variables of education and money attitude towards the
dependent variable of financial literacy. There is no relationship between
financial socialization agents and financial literacy. It is also important to
understand how independent variables affect the literacy rate of young adults.
Efforts are needed to strengthen those variables so that literacy rates of those
university students are increased.
67. P Hemavathy and S Gurusamy [2015], the authors mentioned about this
enduring unpredictability in money markets since the worldwide monetary
emergency has been baffling issue for the retail speculators to put resources
26
into value markets. Because of high instability, new customers are terrified to
consume their fingers and existing financial specialists are awkward in
annoying their portfolios. Retail financial specialists are regularly inducing into
unseemly speculation choices appealed by the personal stake. Profits and
wealth additions, basis for giving up work arrangements, wealth Investment
Preservation are the real method of reasoning behind the share trading
system cooperation inadequate returns, inadequate data, Inadequate money
related assets, fear of losing the assets are the significant reasons which
oppose the share trading system interest among the Indian Working. This
paper endeavors to think about the impact of statistic factors on the reasons
which encourage the share trading system cooperation and purposes behind
protection among the Indian waged ladies to make value speculation.
68. Priyanka Agarwal et al [2015], the authors have stated how literacy is
the key indicator in development. They have mentioned how people are
aware about education but also said that just being literate is not enough.
Being financially literate is become very essential. Financial literacy
accomplishment helps change individuals to navigate the financial world
create familiar investment call and minimize possibilities of being misled.
Women traditionally were primarily liable for the house and daily maintenance
activities, which frequently embody household budgeting and bill paying.
Women's lack of information and confidence with reference to money
management and investment programs impacts their ability to succeed in their
financial potential. The basic principles of investment are constant across all
gender; however women don't explore money matters the same way as their
counterpart will. Empowered and educated women should utilize tools and
resources to reach their financial potential. Women furthermore ought to be
knowledgeable particularly concerning finances since they're taking several
household decisions.
69. P Raja Babu [2015], examined sample size of 25 mandals, each of 30
respondents in belts of Krishna district. It was observed that financial literacy
is one of the main factors to improve financial decision making and investment
selection. Without financial literacy, people will be at high risk of making poor
financial decision due to which they have to face hardship during retirement.

27
Financial literacy is making people aware of their expectation from banking
sector.
70. Sekar. M and Gowri. M [2015], the authors have explained about fiscal
learning which is the blend of one's data, capacity and way to deal with money
related issues. It advantages to settle on instructed decisions and prosperity
of a solitary. Examination has been coordinated worldwide for computing the
level of money related information. And furthermore money related learning
study has been coordinated at country level by the organizations. The vast
majority of the investigations have tossed light on their poor level of financial
information. This investigation fixation on financial information among females
and to consider how very much set they up are to settle on fiscal decisions.
An exertion has been made through this examination to partition the level of
money related information of females. Discoveries of the perusing
demonstrate that gender, knowledge, income and moment in time influence
the level of money related information. This training would help in executing
appropriate strategies to recoup the level of monetary learning between the
females.
71. Shelly Gupta [2015], the author has stated that today staffs are the most
imperative source in all associations. It is known as "individuals" in benefit
region and is critical. The business like data innovation permits enhanced
customer encounter yet additionally enables staffs to convey enhanced
offices. However the trouble of new claims may source dithering between the
staffs. New contributions might be the purpose behind worry in customer
arranged associations like speculation section. This training points overview
of wellsprings of character weight in IT between lady agents. The examination
shadows an experiential strategy to consider the marvel of character weight
between lady lenders in handpicked zones of India. The looking of the
scholastic and manage suggestions contemplate have been bantered about
which would rearrange understanding the character of weight among lady
money lenders
72. Shilpa Lodha and Prof. G. Soral [2015], authors stated that budgetary
markets assume a crucial part in the monetary advancement of a nation. They
are the mediator connect in encouraging the stream of assets from savers to
speculators. Money related hypothesis expresses that a capital planning
28
proposition should yield a required rate of restore that is equivalent to the
hazard and obligation limit of the proposition itself. As a rule, the association's
cost of capital would be an improper method for sorting all proposition
emerging in the firm, since an undertaking's danger require not be the same
as that of the firm. By and by, notwithstanding, there is demonstrate that few
firms assess particular required rates for singular proposition, in this way the
implicit supposition is made that the task's hazard isn't tremendously not at all
like the firm's. Governments issue just bonds, while organizations regularly
issue either value or bonds. The primary elements acquiring the securities or
stock incorporate annuity stores, mutual funds, sovereign riches reserves, and
less generally affluent people and venture banks exchanging individually
benefit. In the auxiliary markets, existing securities are sold and purchased
among financial specialists or dealers, ordinarily on a trade, over-the-counter,
or somewhere else. The presence of auxiliary markets expands the readiness
of monetary specialists in essential markets, as they probably am aware they
are probably going to have the capacity to quickly money out their ventures if
the need emerges A firm with traded on an open market securities that has
hazard attributes straightforwardly like the task is generally difficult to
discover. This absence of promptly accessible market data propels the
investigator to turn to aberrant strategies for evaluating methodical hazard.
Sadly, such strategies need solid hypothetical help
73. S. Remigius Mary [2015], examined the investment choice of working
women in Chennai. With the sample size of 680 women it reveals that People
who can save are interested in making investments. Investment options
available are bank Fixed deposit, Post office services, mutual funds etc. Study
is performed on women residing in Chennai. Women consider those
investment options in which risk is low at the same time there is good return
on investment on regular basis.
74. Swati Narula, [2015], examined sample size of 100 retail investors with
the help of structured questionnaires in Delhi and observed that overall
investors has medium level of knowledge and skills in financial literacy. Big
difference was observed in financial literacy in different age groups. It was
also found that time plays a big role in investment decision.

29
75. The G50 Turkey [2015], the authors have stated how digital financial
services help in the growth of women. Financial inclusion of women is
essential for gender equality. It empowers women and gives them greater
control over their financial life. That, in turn, can have a positive impact on an
entire family household. Digital financial services offered through mobile
phone platforms and agency banking, for example, allows women to transact
safely and conveniently from their own communities, businesses, and homes.
Digitization also can make it safer and more convenient for women to save for
a child’s education, a medical emergency, or an unexpected family job loss.
Digital financial services can help women build a credit history, opening doors
to bank loans that can help women buy a house or start a business. Digital
financial services also can give women greater opportunities to work from
their homes or local villages, and operate their own businesses. Finally,
digitization can help existing women-owned businesses grow and succeed by
increasing their access to financial markets and formal loans.
76. Aabida Akhter and Mohi-ud-Din Sangmi [2016], attempted to study all
main components required to consider financially literate. It was observed that
youth from sample do not possess sufficient financial literacy. It is also
observed that importance should be given in creating awareness on the
concepts of investment. It was also observed that males on average
performed better on financial literacy than their female counterparts.
77. Abdul Haque and Mehwish Zulfiqar [2016], the authors have mentioned
that women’s empowerment can be achieved through financial literacy,
attitude and wellbeing. They feel that economic empowerment is a
combination of individual’s knowledge, ability, skills and confidence for
handling her own financial well-being. Increasingly, individuals are responsible
for their own financial literacy and encountered with complex integrated
financial instruments. Higher the level of financial literacy and positive
financial attitude in women, greater will be the financial wellbeing and
ultimately increase women’s empowerment. Economic empowerment is found
to be affected by age, education, income level, marital status profession,
saving and investment behavior. Significant difference in economic
empowerment was found on the basis of age and marital status of the
respondent. Continuously changing in financial market and with the increase
30
in individual responsibility informed financial decision making is becoming
necessity for economic empowerment of women. Having financial knowledge
is the key element for making sound financial decisions. Monetary education
helps in developing economy and ultimately encourages growth and
empowers females.
78. Danish Ahmad Ansari [2016], the author mentioned how ladies are one
of the fundamental variables for development of human asset. In Majority with
different nations, development of ladies as a businesspeople is not very many
exceptionally a nation like India and extraordinarily in towns in India where the
open door is extremely uncommon for a ladies due to, family backwardness,
fear, sexual orientation discrimination, absence of help and so forth this
practices for the most part occurs in working class wherein the upper-class
ladies are more engaged for their objectives and they are more dynamic. Our
article fixates on introduce position of specialists and understanding ladies'
uniqueness for her contribution to building up another pathway and it won't be
finished until the point that ladies leave her customary range of familiarity and
anticipate satisfy her fantasy objectives. This is about how a ladies being a
businesspeople can confront the world and what issue she need to confront
what thing can rouse her or things can debilitate how she can handle the
deterrents and finish her objective how she can develop satisfy her needs
remain before the present society how she can coordinate the men and work
with them how things will function when she will fill in as a representatives and
what factor will influence being an agents.
79. Dr. Garima Baluja [2016], the author has examined how educating
women on financial matter would help them. With the onset of several
financial and economic reforms, the scope of entire market is getting wider.
Several new financial products are being introduced in the market that is
generating the need for individuals to plan and invest their finances tactfully.
In other words, financial planning is becoming essential for financial well-
being of an individual. While on the one hand, the role of financial planning is
largely acknowledged, on the other hand the significance of financial literacy
is still lagging behind, especially for women. Moreover, the level of financial
literacy among the Indian women has not been largely documented. Hence,
the need arises to understand in detail the issue of financial literacy among
31
women in India. It has been observed that although it is imperative that
women should be given equal power to take financial decisions as taken by
men, yet many Indian women are facing several cultural, financial,
psychological and physical barriers that are creating hindrances in becoming
financially literate. The government is taking initiatives for making the people
more financially literate, yet there persists a lot of gap in the financial literacy
level of men and women.
80. Dr. Krishna K. Verma and H. N. B. Garahwal [2016], the narrators have
stated that women constitute pretty much fifty percent of the aggregate
masses yet India has exhibited uneven sexual class extent whereby female's
people has been about lower than folks. To the degree their monetary
prosperity is frightened, as females are not viewed as identical to guys in each
one of the spots. In the social requests of the west, the women have square
with right and status with men in changing foundations. In any case, sex
failures and isolations are found in India even today. Sex consistency
recommends an overall population in which women and men acknowledge
comparable open entryways, results, rights and duties in all circles of life.
Correspondence among men and women exists when the two sexes can
share also in the scattering of vitality and effect; have level with open
entryways for money related self-rule through work or through setting up
associations; acknowledge measure up to access to direction and the
opportunity to make singular yearnings. An essential piece of progressing
sexual introduction decency is the reinforcing of women. The reinforcing of
women suggests the identical depiction of women in the followings points i.e.
Education, Health and Nutrition, Economic Independency, Organizational
help, Legal care and Intervention Programs. Regardless, nothing from what
was simply said is all in all comparing for woman. While women in India have
shown their potential outcomes in each field including administrative issues,
composing and preparing since Independence however the status of the
women in rural India is overpowering and woeful. The women in towns of
India lead an extraordinary, anguishing and annoyed life. They are the losses
of a whole a lot of viciousness submitted against them, for instance, forceful
conduct at home, strike, assault, obliged marriage and settlement passing.
Female tyke kill, early age pregnancy, prurient conduct and rejection are up 'til
32
now inescapable in towns and provincial regions of India. In spite of the way
that the plans moved by lawmaking body of India, has raised the status of
couple of women, however there seems, by all accounts, to be no sign of
women reinforcing in commonplace India. They are still hit, murdered,
checked and humiliated every day. The condition of females is similarly very
bad. They have to buckle down. Women in the inclines are seen working so
much subsequently frequently, that her prosperity is thought little of. Charged
by men and guided by traditions, women on slants need to pass a hard life.
They have to cover a long division to pass on the drinking water for family and
assemble grain for their cows. Accordingly their prosperity remains wiped out.
More than a level of fifty under hundred women encounters the evil impacts of
paleness et cetera. On one side our organizations are running the distinctive
tasks to empower the women yet these are not satisfactory. The State and
likewise Indian government needs to take strict undertakings to make nation
women educationally and financially self-ruling ensuring their equal help all
around. If we are win to empower the women by then there will be eminent
improvement of India both to the extent economy and political reliability.
81. Dr Sharmistha Bhattacharjee [2016], the author explained the
determination of this learning is to see the level of money related information
between females in farmland regions of south Indian state. Since we are in a
rising overall spending plan on the planet financial mindfulness and data is
exceptionally basic to everyone, especially for the females. The commitment
of the females in economy will give to their own particular prosperity and in
addition nation's financial advancement. Females are responsible for the local
spending plan, residential expenses, and speculations for the reinforcement
subsidize and additionally income aggregate in such position. Because we are
in a rising financial system on the planet. Such a large number of fiscal
changes are on. Then again numerous money related unfortunate activities
and false activities are going on in our way of life especially in field regions, in
light of the fact that the troublesome is absence of financial learning and fiscal
data between the people. Henceforth the money related information is a
vigorous part to draw in the females in fiscal nearness prevent them from
money related offenses and grasp them in a current monetary advancement.

33
82. Dr S. POONGODI and S. GOWRI [2016], the authors have explained
how these days in different organizations that give fiscal administrations,
womenfolk are believed to be in extraordinary request to be utilized. These
examination investigations spaces about the monetary proficiency of sparing
or ventures done by the utilized ladies. To contemplate this, the creators
utilized two ways that is, investigative and suggestive strategies. Besides,
ladies of Erode city are picked as members to lead this examination; both the
ladies working at government segment and furthermore the individuals who
are working at private associations were taken an interest in the investigation.
Minor cases of hundred respondents were picked as the individuals for the
examination. For the appropriateness of the ladies members the examining
strategies is utilized just to the individuals who consents to volunteer for the
study. As per the aftereffects of the examination it expresses that ladies have
voiced emphatically for the consciousness of money related proficiency
toward conventional sparing or speculation. In spite of the fact that, they have
emphatically change their methods for sparing cash from customary bank to
very much progressed unsafe techniques like colossal capital business forms
83. Jyoti Gupta and Manish Madan [2016], the authors have stated about
Financial Knowledge is a computation of money related approach, fiscal
execution and fiscal information. In the given examination these three factors
were researched to direct the level of money related information among
working ladies in current computerized time. Women are more inclined to get
caused by assorted variety of financial apparatuses as a client, if not
abundant Monetary Well-taught. Numerous Relapses is utilized as a
numerical strategy for communicating an ideal in light of three sizes of
Financial Knowledge. Likewise the association between the three factors and
Score of money related information is solid disapproved. The training utilized
is similar to the training suggested by different acclaimed money related
instruction frameworks in their instructions on Monetary Knowledge. The
outcomes chose that there is a customary level of money related information
among the remunerated ladies.
84. Lazar D and Chandirasekar B [2016], the authors have stated that
having financial knowledge and its effective and efficient execution in personal
life is a necessity in the modern life and would help to overcome financial
34
hardship. Financial literacy is become integral part of everyone’s life, an
individual is forced to compete financially strong and seeks to have better
financial well-being in order to have a thriving status in the society. Personal
financial literacy is the ability to read, analyze, manage and communicate
about the personal financial conditions that affect material Wellbeing. It
includes the ability to discern financial choices, discuss money and Financial
issues without (or despite) discomfort, plan for the future and respond
competently to life events that affect every day financial decisions, including
events in the general economy. In India, its central banking institute is taking
various step to create awareness about importance of financial literacy among
the common people, India’s central banking institute is taking new initiative to
launch basic financial education as part of curriculum from school level
onwards. Majority of the research on financial literacy say, women have low
level of financial literacy compared to men. However, very limited researches
concentrated on monetary education of females.
85. Leora Klapper et. al [2016], the authors narrates about financial
administration mindfulness was especially essential in periods where
troublesome money related things were easily possible in huge inhabitance
like Mumbai. These days many countries are going ahead with financial
administration benefit and empowering ledger holders and this is the reason
these days credit merchandise are developing quickly. Due to new retirement
support design People are getting to be independent prior they used to be
subject to government and operators for retirement subsidize after people
retirement. Overlooking the fiscal administration prompts major prob.
Individuals who don't comprehend the essential thought of administration they
rundown spending more cash on every day exchanges, they generally
discover them self into immense misfortune and winds up paying colossal
enthusiasm on their credits. They generally pay progressively and spare less.
Meanwhile the benefits of money related proficiency are few. Person who
makes arrangement for back administration winds up with better occupation
and great retirement investment funds. In light of the present quick life
individuals don't think and put their accounts in wrong places which turn out
colossal misfortunes this prompts alter their opinion for speculation.

35
86. M. Mahesh Kumar and Naseema K. P [2016], the authors have stated
how educating rural women about financial matters can help in the overall
development of the country. The thought of inclusive growth necessitates
wide reach of economic acquirement. The extent of economic illiteracy casts
serious reversal on inclusiveness of India’s growth and affects future
progress. Financial acquirement and economic process are interconnected.
For an energetic participation in economic sector, people would like money
acquirement. The general development of a country will be achieved only if all
sections of the society reach the thought realm of economic activities. But
some sections of society couldn’t reach the expected level of participation.
The case of rural women may be atypical example. Their knowledge
concerning varied financial institutions, activities and product is not adequate.
By educating them during this respect, their economic activities are going to
be a lot of fruitful. It will therefore raise their standard of living additionally as
boost the economic development of the state.
87. Ms. Nishtha Pareek and Ms. Neerja Dixit [2016], the authors have
examined The money related proficiency assumes a critical part at this
crossroads to influence the adolescent to comprehend that how these way of
life creeps are eating their blustery day stores. The theme manages the
recently utilized youth. Presently the inquiry emerges that what is the
distinction between the utilized and recently utilized. The distinction is bit
psychological; it is the goal which they have towards different things varies
them from the utilized youth. Where we say that the adolescent isn't
legitimately fiscally proficient the issue is extreme at the level of recently
utilized youth. The paper ahead tries to center around different such issues
and tries to draw an arranging model that they should embrace to make their
money related life somewhat more straightforward. However, before moving
to it lets attempt to have a short view that what these recently utilized youth
far from money related arranging and objectives.
88. Neha Ramnani Bhargava [2016], identified that various government
agencies, educationists, financial institutions etc need to give more and more
importance to Financial Literacy and Financial Education. There is an urgent
need to change to improve financial policy in Pan India level. There are many
Investment options available today where income can be invested.
36
Unfortunately knowledge of investing in financial investment is very low. Study
is to identify the different ways to improve financial literacy among people.
89. Neha S Shukla [2016], women in India have started actively participating
in activities related to education, politics, and media technology and become
financial independent. They have also started participating in investing extra
money they have. The research focuses on analysis of investment preference
of working women residing in north Gujarat region. This research also finds
out the awareness women about different avenues & the factors affect their
investment decision.
90. Ram Kumar Goyal [2016], the authors mentioned about wealth
marketplace are fiscal marketplace which can be defined as “The marketplace
for finances over a longer period of time where collaterals, for example,
normal investment, favored investments, and collaterals are exchanged and
long haul reserves (both value and obligation stores) are raised inside and
outside the nation". Both the essential market for new issues and the optional
market for existing securities are a piece of the capital market. A few
Companies use capital markets to fund-raise for ventures by issuing stock,
securities and long haul currency advertise collaterals. At the end of the day
capital market manages all tasks of new issues – essential market and
purchasing and offering of collaterals – auxiliary market. New issues made by
organizations constitute the essential market, while exchanging existing
securities contain optional market. In straightforward terms, capital market
covers all exercises of budgetary organizations, non managing an account
fund organizations and so forth to meet long haul money related necessities
which is regularly considered as over one year time frame.
91. Reshma Mathew [2016], examined how working women in Cochin City
plan their investment in relation to tax, how concerned they are when doing
investments and do they take external professionals help. Author’s study is
around working women having knowledge of tax planning, tax filings options
in order to minimize tax liability.
92. Sharanjit Uppal [2016] examined the extent to which individuals
employed prepare for their retirement and also provides details on the
relationship between financial literacy and retirement planning. It was
observed that even after considering demographic factors such as education
37
level, age and income, people with higher financial literacy saved more for
retirement than the ones who has lower financial literacy.
93. Aman Srivastava et. al [2017], the authors have explained about the
comprehension of hazard and its sources has been a genuine territory of
worry for speculators while settling on their venture choices. For long
researchers have been putting endeavors to recognize the hazard factors for
securities exchanges as value chance premium can be measured simply after
distinguish these hazard factors. The accessible writing of hazard in the zone
of back characterizes chance factors in to two classifications: efficient hazard
factors and unmethodical hazard factors. Arrangement of this sort of hazard is
done from portfolio expansion perspective and standard deviation of
aggregate returns has been taken as a substitute of aggregate hazard. Add
up to chance is additionally grouped into unmethodical and efficient hazard
factors. The orderly hazard is additionally named as market chance in back
writing and is characterize as hazard originating from outside condition or
market that influence all organizations independent of their individual
execution. This hazard is likewise characterized as wild hazard. Then again,
unmethodical hazard factors are exceptional hazard elements and particular
to execution of individual firms. Systematic hazard is considered as non-
diversifiable hazard while unmethodical hazard is considered as diversifiable
hazard. It is likewise trusted that normal come back to any financial specialist
is a component of precise hazard and a speculator is compensated for going
for broke. The accessible writing watched that benefit valuing hypotheses
discusses hazard factors yet neglected to distinguish the correct hazard
factors for securities exchanges. There is no understanding among the
researchers about the sane of choosing an arrangement of hazard factors and
number of hazard factors.
94. Anshika and Dr. Anju Singla [2017], the authors have mentioned that
Monetary education has secured an indispensable part in the current situation
because of elements including the advancement of the new budgetary items,
multifaceted nature of the money related markets, data asymmetry and the
adjustments in the other financial components. To comprehend, investigate
and to make utilization of the advanced budgetary items in the rising monetary
markets, there is a requirement for each person to have a satisfactory level of
38
money related proficiency in India. Absence of money related education
prompts the poorly educated budgetary choices and these choices thusly,
have gigantic negative effect on the monetary framework in general. The
present examination means to break down the different activities taken by
Government to enhance the level of money related proficiency in India.
Further, the present status of budgetary proficiency in India has additionally
been examined.
95. A. Syed Beer [2017], Investment helps in achieving additional income. It
consists of commitment of resources which is saved after doing expenditure in
the hope that some benefits will get in future. Investment is a tradeoff between
risk and return. Investment decisions are made to take care of the risks that
may be faced in future. It was also observed that women are less willing than
men to take risk. Women still prefers to invest in risk free returns. Hence even
though working women has high income, well educated, salaried,
independent, they are still conservative investors and prefer to play safe.
96. Dr. S. Amutha Rani [2017], the author has stated money related
presence is the technique of guaranteeing access to appropriate financial
items and offices needed by all segments of the general public when all is
said in done and helpless gatherings, for example, weaker areas and low
income bunches in particular at a sensible cost in a reasonable and clear way
by ordinary authority entertainers. In most south Asian nations, the status of
ladies is short and their financial conditions are much beneath than that of
men. The examiner talks about that it is boss that development strategies that
mean to lift farmland women's inventive volume must enhance ladies'
immediate admission to money related offices, i.e. not parleyed through their
mates. The accomplishment of Monetary Presence Benefit is in the hand of
field people. Consequently designs ought to be transported to get the
farmland ladies into the affirmation of money related administrations. In this
circumstance, the researcher endeavors to assess whether financial
proficiency impacted by the field ladies get to money related administrations.
97. Ms Gurveen Kaur [2017], the author stated that like males these days
female are likewise symbolizing them self as a business person and they are
on a par with guys. An investigation demonstrated that since past years it's
been immense development of female business people who are come up
39
remaining alongside guys and controlling the business in the present
corporate world. According to the examination there is verification that
females are better chiefs then a male this is one of the primary purposes
behind development of females in the present corporate world. It's in metro
urban areas as well as in residential area females has assumed control as a
business person however now and again they contuse their full power the
same number of times there are absence of speculation sources with the goal
that's a reason. In coming days this can be the central point for monetary
breakdown. Our monetary framework may not target totally on females to
ensure females get full favorable position from such stage it is fundamental to
know why economy for females is divergent from guys. Keeping up the
economy as indicated by necessities of females and making a consciousness
of monetary framework through learning stage this assistance to satisfy need
of financial development and this will likewise help financial development of
the nation. Financial proficiency for females is one of vital thing yet in addition
being caution in this day and age has a noteworthy part in topping off the gap.
Our article depends on prerequisite of budgetary sources over the nation for
better monetary development better money related future for better tomorrow.
98. K Swapna [2017], the author has stated that Small capital is developing
as an influential tool for poverty mitigation in today’s market. Most of the
microfinance packages has help to reduce poverty and has help in authorizing
and influencing females. Furthermore, there is rapid inflation in the number of
small capital organizations. And women employees are being preferred as
women are multitask workers and they are believed that women have
economic handling qualities. Small capital packages are now equally
popularly in urban as well as rural areas, for example the Self Aid Assemblies.
SAA has bought change in the methods of saving and loaning. It allows
people to have group lending and saving and accountability and this way they
delivered microfinance to women workers. Studies has shown that capitalizing
in womenfolk offers effective incomes to their family like improving the health,
diet, sanitation, and educational standards of her family members and overall
to the society as well. Furthermore, women need to be authorizing financially
and in non-financial amenities. There are schemes offered mainly for women
in public and private sector banks to initiate their own schemes. The
40
disorganized sector has been heading into microfinance undertaking. The
current work is an effort to research the part of microfinance as an operative
tool in endorsing females’ free enterprise in India. Self Aid Depository
Association Plan in India have been increasingly endorsing for their positive
economic impact and the belief that they authorize females
99. Narain and Asha Rani [2017], the authors said about demonetization is
the way toward expelling cash from all-purpose utilization or stream is known
as demonetization. It is a process of cutting down the value of the cash
element of its position as a lawful exchange of that cash element. This
investigation endeavors to break down the effect of demonetization of high
value currency notes on the solidness of investment marketplace in India. Due
to this process different segments of business have been affected. The impact
of taking out such a great amount of cash from the market has clearly
influenced the different segments, which are driven by the dark financial
system. The present government reported the withdrawal of high value cash
from the dark financial system in the financial marketplace of India by lawfully
introducing Rs.500 and Rs.1000 money notes as not remarkable in the year
2016. This sudden move of present government has come about into here
and now lessening of cash supply in the nation. The adjustment in the supply
of cash has come about into revamping the arrangement of financiers in the
nation. It was watched that the present move of lessening in investments of
cash in the financial system has both here and now and suggestion for the
financial specialists' riches over a longer period of time. Sooner the
reclamation of cash supply happens, quicker the financial specialists recover
from lost riches. The effect of demonetization on different investment
businesses would be unique and relying upon the request supply conditions.
The investment exchange is a decent pointer of how view of the financier has
been grounded transversely over divisions amid this period. In this
exploration, the authors have investigated the effect of demonetization on the
investment exchange.
100. Srinivasa Murthy A T [2017], the author stated that over the globe there
is one issue which is dependably in spotlight and that is Women's
Empowerment. This calendar is on the most astounding tilt for the greater part
of the legislature. There is a considerable measure of battle on everyday
41
schedule over the globe to enhance the financial position of lady. The
perception is being made that a large portion of the plans and projects are
made to allow ladies as far as budgetary sense as it were. Issues like
educating, prosperity and so on are disregarded regarding independence by
lady. As the improvement is advancing over the globe lady are getting
equivalent significance as men. Lady's commitment toward benefit has
pointed the advancement of the country advance. On the off chance that lady
interest in the country exercises like, the shared or political improvement will
reach stop. Ladies make halfway development, notwithstanding giving one
away fourth of globe work periods. She makes just a single fifth of the
aggregate income and keeps short of what one-tenth of the world's belonging.
This exhibits the money related position of ladies is in awful circumstance in a
nation like India. Ladies build up almost fifty five for each penny of tenants
actualize two-fourth of the work and create forty for every penny of food
supplies devoured by India. They make one - fifth of installment and have
fifteen for every penny of the advantages or capital of the nation. In the
primitive Indian culture ladies were worshiped and cherished as divinities. Yet,
in the mid age, the position of ladies got hopeless to an over the top level. As
indicated by the general public Women can just perform obligations like
dealing with families, doing house hold centers, bringing up kids and ought to
be constrained to house limits. The conviction of old society where man
should work out and procure cash for the family and lady working home and
taking consideration house and family has now changed by time. This present
day's ladies are breaking every one of the snags of social issues against the
general public. The present lady is performing both individual and expert
undertakings together without the assistance of their family or accomplice.
Some of the time the circumstance of ladies turns out to be more awkward
when they get tormented by their family and not getting assistance from them.
Sexual bothering is more typical in the family and furthermore in working
environments. They need to experience a ton in their everyday life to support
their calling also family.

42
 CHAPTER 3
RESEARCH METHODOLOGY

Universe sample and Population:

The term working Women, restricts the scope of the study and hence the
universe is defined as working women in the Mumbai region fulfilling following
criteria.
1. Women working is formal and organized sector
2. Women working in Private and Multinational organization.
3. Working women who are working at clerical or management staff level.
In said type of universe considering this, there shall be only those
organizations where women is employed and are fulfilling the same criteria

Territorial Universe:
The territorial universe shall be Mumbai region
The estimated population of the responded is presumed to be 3 Lakhs for the
sake of convenience.

Considering the population across different types of Private and Multinational

organization the sample selection shall be done as follows:
The respondent shall be selected only from Private and Multinational
organization. The data representation shall be from 2 categories
1. Clerical and
2. Management Staff.
100 clerical and100 management staff shall be collected and hence the
sample size shall be 200.

Method of data collection:

The data shall be collected in bifocal manner

Primary data:
1. This shall be collected from the class of responded as stated above.
2. Similarly some basic information shall be collected form institute promoting
financial Literacy.
1
Secondary Sources:
Shall include the following:
1. Books regarding Financial Literature and Financial Planning
2. Various reports published by various banking and final agencies regarding
promotion of Financial Literacy.
3. Surveys conducted by different agencies regarding welfare of women
Financial Literacy and Financial Planning.
4. Independent research work done in various institutions and Organizations.
5. Text book related to various Financial Literacy and Financial Planning.

The researcher has carried out her studies by focusing on different sections of
the research to define the methodology. This part of the research addresses
the major considerations and approaches as needed to proceed in this kind of
research. In the primary segment, researcher has focused on strategies
utilized and the way research has been carried out. In the secondary
segment, it tells about the sampling approach used in the research and tells
you on what basis the candidates were chosen. Thirdly details of the collected
data have been put on table which includes the technique, appliance and the
process. Following the other sections at last all the collective data has been
analyzed. The major objective to carry out this research was to examine the
chief barriers for the adoption of the cloud computing by IT firms and
organizations. At first all the data that was gathered from journals,
employment outlet magazines, and articles was carried keeping in mind the
main objective behind the research which was the security factors related to
the issues or barrier to the adoption of the cloud computing by SME’s. All this
gathered data was collected and later on it is very useful in constructing the
important questions to carry out the survey. At the time of writing down thesis
all the important information was noted down in the research.

While research was being carried out, it was necessary to make sure that
both the research approaches and requirements are fulfilled. Research was
carried out with the classification of both Qualitative and Quantitative
research. It can be defined as a method in which Researchers have detailed
2
the quality of the study that is based on the different studies and instances,
use a lot of data done from the survey, investigate the communal procedures
involved along with the studies and instances and make a note of different
explanations and use them to initiate with a new definition in a certain area.
They also keep a close watch on the communal living from various angles and
provide details on the distinctiveness of an individual.

Simply it is about measuring the human tendency of dealing with the different
situations and their reactions on different happenings. Qualitative researchers
give emphasis to the social behavior of people to study the environment of a
social life. Such data can be collected with the help of one on one interviews
or group discussions. In this research, personal interviews were taken and the
results obtained were used to do the qualitative analysis.

On the other hand, Quantitative research, as defined by different authors is a

study of numbers collected in the form of information which can be further
processed to produce desired results. These results will mention the quantity
of data analyzed and their inputs for the research work. Research has been
carried out with the help of quantitative research. With the help of such
techniques researcher gets an advantage of knowing the results and answers
for such problems which is to be understood.

Moreover, Grounded theory technique has also been applied in this research.
Grounded Theory is precisely explained as a research technique in which
data develops the theory not the theory develops the data. This technique
makes this approach an inductive one which means it goes from specific to
general. Therein, technique of examination is based on three main factors
such as categories, concepts and propositions. It can be also known as
hypotheses. Although idea of the study is the significant part of the
examination, it is important to understand the principles behind this. This is
because principles are modified and is not present in the real form as it was
created. According to the authors there were many deduction made on the
principles to be used for the examination and investigation of data that was
collected. This provided the researchers a way to represent the data and
3
depict the desired results. The principle used behind the stranded technique
of study based on quality is that this technique makes the use of efficient
bundle of processes to widen the prospects of the inductive theory about the
occurrences". The central point of the principle is to improve the intention of
the regular occurrences by recognizing the main factors behind the
occurrences and then later on, to be comparing their relationship with those
factors of the process of the examinations. In simple meaning, it moves from
general to specific without moving away from the main point that makes the
subject of the research exceptional.

The research is categorized into two different sections. In first part, most of
the qualitative research has been conducted to shape the foundation of
literature review and constructing methodology. It is even conducted to
examine the real conception and theories to be used on a research topic. This
research is being carried out on the employee of the IT organization who has
immense understanding of cloud computing and chief barriers associated with
it. Personal interviews have been conducted of different people in different
age groups and the outcomes of their responses have been recognized and
evaluated effectively. To accomplish primary research hypothesis has been
structured from the theory of literature and in detail interviews. This phase of
research can also be called as pilot study because its gives us the complete
explanation about the area of research and the outcomes from it has been
considered to structure the questionnaire for quantitative research work.

Researcher has taken precautions in the beginning itself to confirm the data
that has been collected during the process of research and all the theories
that is used are reliable and consistent. Researcher has made the use of both
qualitative and quantitative methods so that the research looks more eye-
catchy, consistent to the participants. As combined research approach is
considered, at the time of structuring the questionnaire to make it more
professional rather than being personal. And so it became very easy for the
respondents to give their responses regardless of losing their personal
identity.

4
Research Approach:
In any research there can be two modes of approaches, one is deductive
approach and another is bottom-up approach. Let us study these two
approaches in detail. As per Dr. A. Burney (2008) “Deductive approach is also
informally known as top-down approach in which conclusions follow logically
from premises”. In deductive approach theories are being tested, practiced
and at the end if the results are being appropriate, conclusion is made (Ghauri
and Gronhaug 2005; Saunders, Lewis and Thornhill 2007).

Figure 3.1: Flow of deductive method

Inductive method is known as bottom-up approach. In this method in the

beginning observations are made, then it is being analyzed and then it is
concluded on the basis of premises (Dr. S. M. Aqil Burney 2008).

5
 Figure 3.2: Flow of Inductive Method

Grohaug et al, 2005: says that two types of approaches that we have seen
above contains a level of uncertainty, for that reason the research has been
carried out with the utilization of both the approaches. This will help in the
evaluation of current theories along with the understanding of authors’
theories.

Sampling Composition
Sample is very essential to be effective for any research to be carried out. It
should be well stated and easy to understand. To make sure these points are
taken care of, researcher has to study different kinds of sampling methods
and has selected random sampling along with snowball sampling.

Random Sampling:
Random sampling technique is most commonly used in today’s research
world. It gives us the idea of a person being satisfied at every stage or not.
Such sample carries such respondents who assist equally whether being
selected or have been a participant.

Convenience Sampling:
As it is clear from the name, this type of sampling is used as per the
convenience in approaching the desired sample. Here, the researcher has a
6
background from IT sector, and for this particular study it was easy for her to
approach the respondents for interview purpose from IT industry that are likely
to provide relevant data and information needed in this kind of research.

Snowball sampling
This sampling method is not much in use these days due to lack of available
sources to collect the data. At times, it has proved to be very critical and
costly while carrying out the research under snowball sampling method. It
becomes very difficult to find such person who genuinely wants to give
response whereas sometimes it has proved to be less expensive when it
comes to recommendations from others. In the beginning of snowball
sampling; it is necessary to make sure the person who you are approaching
fits the criteria of research. He or She should be ready to get more people to
participate and be a part of such sampling. It helps to get in touch with those
people who cannot be reached easily otherwise. Suppose you are carrying
out the research on homeless people. It is very rare to find number of people
in a particular area unless you personally visit such places and find few of
them. Once you get the hold of few homeless people then it becomes easy for
you to find out the whereabouts of others. In the framework of this research
both methods were given equal importance. The sample for this research was
chosen randomly with the help of databases from two different LinkedIn and
my previous organizations “Cider”. This survey with questionnaire could be
filled by anyone with the exclusion that a person who is responding has to be
internet savvy. It was also circulated through Social Networking sites so all the
people who responded are the member of such sites at least. To carry out this
survey online Google forms were also used to make it easily accessible to the
respondents at their convenient time.

Interviews
The interview technique is a worthy way to explore and examine the
problems, concerns and concepts profoundly and to accustom oneself with
the comprehensive information about a particular matter or opinion (Jones, K,
2010). This technique is usually practiced to un-earth the respondent’s
peculiar understandings, views, perceptions, ideas, feelings and opinions.
7
Additionally, it removes the uncertainties in the investigation topic and assists
to recognize the technical intricacies and difficulties of a phenomenon (Kirk,
Tribe, Givney, Raupach, & Stafford, 2006). This system of scientific
exploration is chosen to attain in-depth acquaintance of the specialists in the
cloud computing field, their thoughts about various security procedures and
what they observe the future of cloud security. A great deal of helpfulness is
compensated to obtain an in-depth understanding of the security problems
and flaws in cloud systems and solutions, their potential impacts in the future
and the possible methods to guarantee improved security in the cloud.

Qualitative research
“Qualitative research is explorative part of the research, which investigates
the thorough knowledge of subject area on the basis of descriptive and
interpretive nature of the research and in-depth interviews have been selected
for data collection, semi-structure format is selected to organize in-depth
interviews, which will help researcher to collect the data more prone to the
topic and create a conductive atmosphere for the investigation” (Sale et al.,
2002; Teddlie &Tashakkori, 2003).

Focus group method is also one of the appropriate techniques which can be
used to carry out such research as it sounds less costly and in returns its
more efficient compare to the others. At a time this research method proves to
be more complex because sometimes researcher struggles to bring all those
members of group together. So the use of this research in today’s world is
minimized. Focus group has its own disadvantages. For example some of the
information which is collected from such members would be trustworthy as no
one wants to look down to other. So the data or information that has been
collected from them could be false as well. This will result into having
misunderstandings and it will not be clear. In-depth interview is preferable to
be used for this research compared to focus group due its disadvantages. In
most of the research, non-probability technique is used to select the sample.
In probability technique, sample is been chosen at random from a group of
people whereas in non-probability technique sample is chosen deciding the
reason of participating. On the top of it; all the candidates who were
8
participating were accepted with the basic knowledge of IT. To make them
feel at ease all the interviews were conducted at their preferable places. All
together 15 questions have been prepared for interview keeping in mind the
base of research objectives. All the people who are being interviewed were
posed to contribute their awareness about fashion industry giving the
explanation for purchasing high fashion clothes instead of going and buying
from clothing shops or malls. All the interviews were meant to be conducted
on their given time which would last long for few minutes. Sufficient time was
allotted to all the participants in order to contribute their experiences to avoid
any misunderstandings. Later on all the responses were jotted down and put
in process to get analyzed.

Quantitative research: Survey Instrument

Questionnaire that has been structured to carry out the survey consists of
three main parts. First part of the questionnaire participants has been asked
to provide the information about their age, gender and the name of the
organization. Following in second part, question has been framed in such a
way that participant must share their understanding and experience about the
cloud computing and its adoption process. Multiple options have been given
to the respondents and they had to choose the answer on the basis of their
experience. Where in, the last section of the questionnaire all the participant
have been asked different statements in order to test the hypothesis based on
the chief barriers to the cloud computing.
Every aspect had to be answered choosing upon their belief is right ranging
the options from 1 to 5. Every number is used to categorize based on the
options given in the questionnaire.

Ethical Considerations
While carrying out any sort of research ethical considerations are of utmost
importance. A researcher has to consider this issue of ethics while conducting
research. As per (Cooper and Schindler 2003 p. 120) considering the issue of
ethics is to make sure that no one is offended while the research process is
executed. JJT University has put together a policy for research ethics in order
to maintain the ethics issue unharmed. The reason behind this policy is to
9
make sure no individual is hurt and no other unwanted activities are
performed while the research is carried out. So it becomes a necessity for
every research scholar at our esteemed University to follow this policy.

Confidentiality
In this survey to maintain the confidentiality of the responses received, all the
participants were given the assurance before being a part of it that their all
responses will be kept confidential. All the information was passed on to the
respondents that this survey has nothing to do with any sort of their personal
information. Identity of all the participants will be kept hidden and secret. Any
sort of data collected from different sources and individuals will be used for
further research and not for any publication or any other use. At the
completion of research work, every information will be discarded and with
guarantee that it would not be passed on to another person. While conducting
the personal interviews they were given the option of revealing their identity if
they wish too. All the participants of the survey were given word that any sort
of data that they give it to us will be dealt efficiently under the guidance to
keep their identity secured.

Other sensitive issues:

Every aspect or aim of the survey was clearly mentioned to all the
respondents before they take it personally. In this survey only the data that is
related to research will be examined. No other issues or arguments would be
made upon the caste, religion or any other sensitive issue of a respondent. If
at all in some situation the question comes up it would be straight away
ignored and would be discontinued. All the participants will be giving the
answers only if they are willing to take on this survey. (Mitchell C. & Reid-
Walsh J., 2002).

The most important evidences that have come up from the various data and
information collected and analyzed indicated the following:
- Disparity in sexism and strengthening of females across the globe do not
only focus on giving them a communal freedom but also significantly

10
participate in providing them monetary security and improvement in the
standards of their living.
- The international body takes care of rights of people need to address this
disparity in sexism and improve conditions of females across the nations.
- The different issues and problems faced by females’ worldwide need to be
given attention on aspects such as monetary and sustenance crunch, war
against society for a communal status, alterations in the environment and
other adversities related to their surroundings.
- Females of different age groups tend to have different requirements and
hence they need to have availability of sources to reach to them. This access
is hindered due numerous and untold circumstances and crisis they face in
the society, at home, at schools and colleges, at workplace, etc. These untold
issues need to be looked into to keep them away from social and money
related dangers.
- To evaluate and to prepare for addressing disparity in sexism we need to
gather data and information from the entire sphere where females are linked
to. This will help us develop guidelines and curriculum to improve their identity
in the society.
- Examination and evaluation of the data samples on females’ monetary
education should be more specific their money related knowledge and
understanding. This will provide them with equal monetary rights and
confidence as compared to males. If they are well trained on money related
assets they will not only rise as an individual but also help the family to grow.
To achieve this it is significant that they receive support from administrative
agencies and legislative bodies in their residing nations.
- There are many cases where we see that females face a lot of fierceness at
home and workplace. This not only demotivates them to step out but also
lowers their confidence. These factors impact their overall development in
being literate, finding good job opportunities and legitimate rights.
- Younger and older generation males have a very important part to attain
parity in sexuality and are required to support females in their home, at
workplace and other places.

11
 CHAPTER 4
DATA ANALYSISAND FINDINGS

Research has given certain data which is supported a survey conducted to

grasp the amount of monetary understanding and data of working and non-
working ladies in Mumbai Region. These ladies were aged between twenty
one years and higher than and primarily the waged people. This survey was
supported queries asked associated with savings and investments,
mortgages, bank loans, fastened deposits and therefore the level of their
financial usage and dependency on others to form choices associated with
finances. Study was supported all aspects of non-public money management
that were thought to be relevant and necessary to higher cognitive process
associated with money management.

Results were separated into classes that addressed problems like parity in
gender, role and dependency in deciding in finances. The respondents were
asked whether or not personal monetary management accumulated the
monetary accomplishment or information of those ladies and accumulated
their confidence in such deciding roles. It additionally addressed whether or
not the course had a control on concealed monetary behavior. There was
additionally proof that there was no enthusiasm from the females in
participating in monetary literacy which is shown in the data collected by
individual survey, advising that motivating them would get satisfaction from
targeted monetary education. This study provides more proof of those mixed
results regarding the impact of monetary education by analyzing an extended
term impact on each financial accomplishment and concealed behavior.

Care should be used in deciphering these results with reference to the good
thing about money education among operating girls. First, the results are
supported with a small sample size of 216 respondents. In addition, though
respondents answered questions about financial skill nevertheless the
respondents weren’t quiet knowledgeable in terms of cash usage. As such, it's
going to be argued that a way larger sample may turn out completely different
results. On the positive aspect, however, the actual fact that each one the
1
respondents came from identical geographic location and were educated
enough nevertheless they weren't capable for higher cognitive process in
money management. However, these results are driven by asking queries
associated with use of debit and credit cards and also the belief that their
savings and investments are adequate for his or her desires.

Financial accomplishment is achieved by combining the ability, thoughts,

views, conduct, understanding and level of monetary knowledge an individual
has. Money accomplishment is anticipated to impart the information to create
normal people into knowing and asking queries to different people about the
facilities and utilities provided in monetary gains. This is not just about money
influencing the marketplace but also investment, however conjointly regarding
saving, budgeting, money designing, level of understanding in monetary
transactions but also being sensible in money related matters. Money
accomplishment may be an advanced conception, and it is important to grasp
its full import. In fact, as a society, we tend nevertheless to completely
recognize the necessity and potential of monetary accomplishment.

The lack of monetary knowledge among females is present at each and every
position of the place we live and also in the fiscal domain. This may not affect
the household savings and investments on a large scale but hampers the
overall growth of the nation. The dearth of basic knowledge regarding
monetary product and utilities provided along with the dangers in income is a
very collective nature of level of monetary literacy which is wide ascertained.
The greed for higher returns eventually culminates into a crisis involving larger
variety of retail investors. This basic lesson holds true not only for a personal
finance his onerous earned savings in monetary product, however conjointly
for a bank or financial organization that manages public funds and channels
them, either as investments or loans. Thus, appreciation of assorted aspects
of monetary attainment and the way it impacts our lives holds the key to
prudent monetary designing and welfare maximization, both- at the individual
level and for the society as an whole.

2
India has massive population is of people who live under poverty lines and
who find it hard for survival. These sections of people face with oppressions
due to lack of monetary knowledge. Moreover they are burdened with the
inflation rate and the expensive markets. The kinds of obstacles an individual
would face are in the money management of family expenses which is a result
of the lack of information and knowledge and selection of monetary utilities.
Money attainment will facilitate them prepare earlier than time for keeps wants
furthermore on modify surprising contingencies while not forward extra debt.

India’s central banking institution and repository is actively participating within

the field of eradicating money attainment within the nation. There is also a
program that is initiated and already been enforced. The main objective of this
project is to diffuse data relating to various financial institutions and universal
and incorporating the initiatives in homes and workplaces and also targeting
the youth in schools and colleges as well teachers and instructors. It also
focuses on females in villages and cities both, middle class families, people
working for the nations’ security and also the elderly citizens of the nation.
The information is spread with the help of promotions and advertisements at
different places. To provide this information, our administrative agencies and
legislative bodies along with well-known financial institutions are making
efforts to reach out to the people.

These initiatives were started in the year 2007 on the 14th November also
celebrated as children’s day in India. It was basically started to provide
information and knowledge to various groups of people such as kids, females,
older citizens but female monetary education has gained the maximum
attention. It is believed that educating females will not help improvement at
the root level of monetary gains at the root level but also will help in overall
development of the nation.

Other than this the Reserve Bank of India has been conducting essay
competitions to promote monetary awareness among college kids on topics
associated with banking and finance. The bank is additionally actively
engaged in conducting exhibitions in different elements of the country.
3
Recently the bank launched the “RBI young scholar’s award” theme for
outstanding students so as to get interest in creating awareness of banking
sector of the country. There are other institutions that are also helping in the
development of guidelines and strategies to improve the level of education
among females. It is observed that females who reside in the rural or
backwards areas have least access to the education and hence do not
understand the significance of the money related issues. As they are not able
to read or write properly they are vulnerable to cheating by people who seem
to been financial consultants. They gather a good sum amount from them and
flee from there, making these females face consequences later. The situation
gets worse if the money that was taken away by these thugs was their hard
earned savings, which were to be utilized for upcoming events. They have to
start saving from the scratch and hence it takes a longer period of time to
save up now.

The actions defined by administrative agencies and legislative bodies in India

are listed below:
The larger banks among the bigger cities have directed the smaller ones with
a guide on how to reach out to the people especially the female group in the
villages and backward areas. These smaller banks help the females to access
money to start with small businesses within their home and making earnings
out of it. Females who aspire to start businesses such as tailoring, farming,
etc which do not need a huge amount of investments are funded by these
banks. The rate of interest on this is also very minimal and the collaterals and
paperwork required are very simple. Once females learn to make an earning
on their own it becomes easier to gain confidence and look to venture out into
something bigger and profitable.

An initiative to promote business among females plays a significant role in the

overall financial gain by the nation. This will help them make independent and
movement towards lowering the sexual variations found in different sections
of the nations. May it poor women to some rich business women, they have
once at least faced the issues related to sexual variations. These could be at
home, at school, at workplaces by their family member, friends, relatives and
4
peers at work. This leads to distrust in one’s own individual ability and
capacity to do something good. If this carries on over longer period of time
they soon tend to lose interest.

To achieve better financial status there needs to be given consulting on how

to best use these utilities and facilities provided by the banks. This will
decrease in the number monetary obligation by females as well as males.
This in turn will change the monetary conditions of the people at national level
thus providing them with good standards of living. This can lead to better
welfare of their kids and the entire family and substantial growth nationwide.

To improve the substantial growth of the family and to increases the future
prosperity, females now need to be monetarily educated. Giving them
adequate knowledge and understanding of the money related matter can uplift
the livelihood of the family. They tend to act as a helping hand along with their
husbands or spouses in making money related decisions outside of home.
They start to invest in real estate or property which will increase their financial
assets and resources. This makes them well prepared for the upcoming
expenses such as their kids’ education, marriage, planning for older age after
he or she retires, investing into long term scheme and so on.

This also enables to extend their reach to other females who would need
some assistance in money related matter. The educated ones can lead
programs or projects for the improvement of females who are poor and cannot
afford to spend much in providing good qualification to their kids. Providing
them free education till certain grades and then getting these kids into good
schools will give a scope to shape their future. There are other programs also
led by administrative and legislative bodies that look into the welfare of kids
and females. Their initiatives aim at promoting monetary proficiency at large.
Concerns such as sexual variations, lower earnings at workplace, and
dangers from communal and ethnic changes and so on will be taken care of.
The system will able to educate more people around by removing these small
obstacles and will be able to look into bigger issues.

5
Apart from monetary education the main issue still beats around sexual
variations among males and females. India being a patriarchal society where
males seem to head the family and dominate the society, it is observed that
women are generally oppressed and not given the right to decide things inside
the household. The males within the family decide the amount of budget
required for the well-being of the family and also decide how the expenses are
carried out and keep a close eye on the money saved.

Other than the administrative and legislative body there are other
organizations that are building programs for the performance of females
across the nation. The program is focused on the way females can draw cash
by borrowing them when required and deploying it in the right ways to earn
profits. It also aims at providing investment arrangement for life after one
retires from work and still live in good conditions. To accomplish all this they
have come up with a curriculum along with a panel of trainers and instructors
who would help deliver the learning and coaching to the females groups
targeted. They will not only educate these females but also show them modes
of increasing their earnings. The results of this would be compared on yearly
basis to understand the participation of females in the program as well as a
focus on the achievements that they have gained.

Such programs vital aim is to educate the more females across the villages
and other non-reachable regions where it is not possible for access by
government. If we uplift the spirits of these women it will be easier to take care
of the issues at a very grass root level and finally to overcome the maximum
issues and concerns related to girls and ladies. The elevated levels of females
in India will also improve the monetary conditions of the entire nation.
Therefore such initiatives need to be considered by the other nations as well
to improve conditions of females worldwide.

Internationally also there are lot of programs to strengthen females have

started. These programs tend to reshape the lives of females and provide
them with equivalent privileges as compared to males. The sole cause to all
this was the disparity in sexism done over so many decades and people to
6
rely on it as customary or ethnic beliefs. The state of mind of people has to be
changed across the globe to give a fair and impartial society for females to
live in.

There are processes and guidelines rolled out to achieve foot fall for more and
more females joining the campaigns and programs to achieve this goal of
eliminating the sexual variations from the core. This will provide independence
and confidence within them.

The contribution of females in the employment differs significantly from county

to country, reproducing variances in monetary growth, teaching stages, other
helpful facilities and, eventually, communal rules. Due to all the purpose,
contribution of stats differs significantly across the globe. The movements in
the female employment force contribution stats in some countries disclose an
amount of mysteries. Very less contribution of females in the Indian
employment, especially in countryside areas, this happened in spite of sturdy
monetary development and increasing salaries. These subjects is serious
because of female work strength contribution is a driver of development and
thus contribution stats designate the potential for a country to grow; in many
nations, contribution of females is a coping device which rises in reply to
monetary tremors that hit the domestic; and contribution is an indicator of
females’ monetary strengthening. To recover work marketplace
consequences in nations like India, rule interferences should reflect both
supply and demand, which including refining access to and significance of
teaching the programmers, endorsing childcare and other organization to
ease the load of domestic responsibilities, safety for females, and inspiring
private segment growth in businesses and areas that would rise occupation
chances for females in developing nations.

Across the globe there is one issue which is always in limelight and that is
Females’ Strengthening. This schedule is on the highest tilt for most of the
administrative and legislative agencies. There is lot of struggle on daily basis
across the globe to improve the socio-economic position of female. The
7
observation is being made that most of the plans and programs are made to
permit females in terms of monetary sense only. Issues like teaching,
wellbeing etc. are ignored in terms of self- sufficiency by female. As the
development is evolving across the globe female are getting equal importance
as men. Female’s contribution toward service has pointed the development of
the nation progress. If female participation in the nation activities like, the
communal or political development will come to stand still. Females create
partial civilization, even donating one-fourth of globe work periods. She makes
only one-fifth of the total revenue and keeps less than one-tenth of the world’s
possessions. This demonstrates that the monetary position of females is in
bad situation in a country like India. Females establish nearly 55 per cent of
inhabitants implement two-fourth of the work and produce 40 per cent of
nourishment supplies consumed by India. They make one - fifth of payment
and possess 15 per cent of the assets or capital of the country.

In the primeval Indian culture females were idolized and loved as divinities.
But in the mid age, the position of females got miserable to an excessive
level. According to the society Females can only perform duties like taking
care of families, doing house hold cores, raising children and should be
limited to house boundaries. They believe of old society where man is
supposed to work out and earn money for the family and female working
home and taking care house and family has now changed by time. This day’s
females are breaking all the obstacles of social matters against the society.
Today’s female is performing both personal and professional tasks together
without the help of their family or partner. Sometimes the situation of females
becomes more uncomfortable when they get tortured by their family and not
getting help from them. Sexual pestering is more common in the family and
also in workplaces. They have to undergo a lot in their day to day life to
nurture their profession as well family.

The difference between men and females in the office has become the area of
intellectual inquiry in public and also in private setup. This difference can be
clarified at the level of separation on the employment market by the
company’s insights about female and male staff. Although females have
8
always had a significant part in the economy, their contributions are not
completely renowned in study. Females’ work, particularly in very less salaries
in different countries, still the work by female is been more into private sector
and in domestic sector, which does not get direct payments and as a outcome
it is repeatedly barred from monetary transactions. Study reveals that
exclusion of sex discernment is critical for the fulfilment and inspiration,
promise and interest and less pressure of the staffs.

As per today’s analysis the females’ strengthening is based on different

scopes: which is individual and monetary strengthening. Approximately two
hundred females are self-employment from countryside. This female tried to
educate themselves. This female was analyzed on both numerical and
qualitative data which were collected by survey. The result says that self-
employment did not only help to create additional revenue but also helped
economically. Self-employed female are more independent and their
willpower help them to achieve success in their effort. The study also
determines that change should not only be in the position of females but also
in the attitude of the civilization towards them. Importance should be
necessarily given to varying image of females, from an inactive onlooker, to
that of optimistic achiever.

Why is there a necessity of Monetary Education in India?

India has always been a male dominant. Females establishes for 55 percent
of population however, just 26 percent of female has the workspace. Female
staff in private sector is more than communal sector. This ration was less due
to culture difference for men and female in India because as per rules female
are homemakers and they eaten supposed to take care of the family. Where
else men are supposed to earn and support the family in terms of finance and
taking responsibility of work outside the house. The big flaw was neglecting
the female education precisely occupation oriented teaching. Input of female,
involved in farming and similar activities, was not calculated as an individual
input and it shaped the part of family revenue. Female staff contribution also
recovers fitness, thus, life anticipation. Culture changes in Indian civilization
9
will provide encouragement situation to female. Female teaching level should
rise and particularly skill growth through specialized and occupational training
and occupation oriented developments. Equivalent chance to work and
equivalent salaries for equivalent work will increase confidence of Female and
inspire them to be a part of working inhabitants. Harmless and safe employed
situation inspire ladies for service. Administrative and legislative agencies
should upfront have programmers to improve ladies contribution at all stages
.Private segment should also inspire ladies to contribute at work.

Increment in Liveliness Prospect

Increment in Liveliness Prospect implies that the probability of longer spent in

retirement and in this manner a bigger might want of money related planning,
developed protection and arrangements of social insurance associated costs
to cover up flighty inevitabilities. The Administrative and legislative agencies
started to downsize the state upheld annuities and a couple are diminishing
medicinal services preferences. The sketched out plans are rapidly
substituting laid out annuity designs, moving onto worker duty to abstain from
squandering their own particular money related security once resigned. Most
studies demonstrate that a lion's share of workers are uninformed of the
dangers they as of now need to confront, and don't have agreeable data and
ability to oversee such dangers enough regardless of the reality they're
mindful of them. The execution of the arrangement requests that the
representatives make the different determinations concerning commitment to
design. As administrative and legislative agencies won't be sufficiently longer
to supply Social Security, expanding obligation return on the shoulders of one
self. Consequently individuals need to think not exclusively venture hazard
and return exchange off, however moreover vulnerability in regards to their
hope, point of view towards hazard, present and future procuring potential and
certain progressions inside the individual and social conditions.

Increment in one's responsibility

10
Atomic family structure solicits an individual to make assortment from money
related choices related with disbursal, sparing, speculations, credit, and so on.
not only for him however likewise for his family. People moreover should
accept promote accountability for financing individual or family medical
problems. Besides expanding instruction costs make it essential for guardians
to set up and contribute sufficiently for his or her kids' training.

Increment in money related items and administration

Developing assortments of customers approach a vast decision of monetary

products and administrations, from a scope of providers and conveyed
through various channels. Balancing of principles and facilitating have brought
the various more up to date monetary products and administrations custom-
made to satisfy extremely clear market wants. These money related item and
administrations developments give customers with extra determinations to
stop their savings. The comprehension of those advancements is vital with
respect to buyers and thus these developments don't exclusively give extra
choices to buyers however also difficulties to know the upside of
developments.

Increment of money related organizations

Globalization and privatization have strived a crucial part to build up the

residential monetary markets. Various essential segments of money related
administrations exchange unbroken open for individual players to
acknowledge more extensive access to customers. Therefore not exclusively
the huge non-budgetary local partnerships made their entrance inside the
fiscal administrations exchange however also remote enterprises went into
the Indian money related frameworks. As preservationist ventures don't allow
the speculators to bring the normal rate of come and to adapt up to the
swelling, organizations have started to give summed up and altered fiscal
answers for customers, made the credit less demanding to get and battle
intensely to understand the piece of the overall industry.

11
Diverse choices of fiscal items

Because of expanded unpredictability of money related stock and

administrations, monetary choices are essentially irritating to a few of the
present individuals. Perhaps the disarray has been emerged not exclusively
owing to the speed at that monetary markets and new money related
instruments have raised or extra assortment of establishments giving the
extra progressed fiscal items, yet furthermore inferable from the failure to
know fundamental monetary thoughts. The money related administrations are
partitioned basically into two classifications: Savings/Investment
administrations will be seen in light of the fact that the instruments for
financing future utilizations bolstered by current income and credit
administrations i.e. advances/liabilities are the instruments for financing
current utilizations principally in view of the more drawn out term income.
Later depends on individuals money related wants (or targets) and capacities
(assets) to gather these monetary resources and liabilities. The blend of
budgetary might want needs and asset handiness at entirely unexpected
phases of families' life cycle impacts the succession inside which monetary
administrations are gained by the family. However nowadays customers are
looked with the grouped money related instruments giving the differ of points
of interest and decisions as to charges, loan costs, length of contact,
introduction to chance and so forth following into bigger assumed hazard, the
bigger information hunt to make correlation over various things, extra higher
psychological process intricacy and raise extra call making inclusion and
coming about postponement in making buy choice process.

Market Modernization and Changes in Technology

Improvements inside the innovation progresses have revised every aspect of

preparing, advancing and conveyance of fiscal stock and administrations. The
utilization of Internet as a mean of correspondence and conveyance of
monetary administrations as well as items inside the sparing way could be an
aid for money related administrations providers and it's additionally evacuated
the constraint of land limits for customers. These mechanical advances and
12
market developments fuel the general population not exclusively to distinguish
relevant providers and conveyance channels from the vast exhibit of potential
outcomes however moreover to utilize these advancements for sparing time
and to make speedier speed on cash exchanges.

The part of funds and interest in advancing monetary process in India has
been given transcendent significance since freedom. Funds and speculation
are thought of as two pivotal full scale monetary factors with microeconomic
establishments for accomplishing worth strength and advancing work
openings subsequently contributively to property monetary process. In the
course of the most recent 3 decades, Indian economy has developed joined
of the speediest developing economies of the globe. Except for enrolling
tremendous rate of development, India's development technique has been
almost steady.

Savings and Investment plans in India

The part of family unit reserve funds and Investment has been fantastically
powerful in advancing the money related development of India. In India family
investment funds start from three vital divisions

(I) family unit part

(ii) The non state controlled part
(iii) Common and universal part.

13
 Figure 4.1: Need for Monetary Education

Biggest portfolio in economic growth for savings comes from the household
sector. Non company entities of family savings involved are categorized into
two types, savings in monetary assets and materialistic properties. Family
savings includes life insurance policies, pension funds and provident funds,
deposits with banks adnoun-banking monetary establishments and different
varieties of monetary service providers.

Saving Rate influences household

The understanding of influences on the family saving rate offers a context for
national money education and awareness programmers, and other initiatives
meant to influence saving. It will facilitate make a case for why initiatives could

14
not work, or might not be transferable between countries. Equally, policy
manufacturers need to perceive the impact of savings initiatives on economic
science variables. Overall, several factors will make a case for variations in
saving rates across countries and over time including:

Figure 4.2: Saving Rate

Welfare Provision Scope

To make up preventative savings, together for retirement a welfare safety net
is created. This is free or low-cost care, and state or leader pensions which
reduces the need for it. Welfare edges more scale back the motivation to
avoid wasting for those near the threshold. The high personal tax rates
typically related to high levels of welfare also scale back the number of cash,
households have out there for savings.

15
Sustainable economy
Unsustainable economy will increase uncertainty, thus saving rates tends to
fluctuate in contrary to the economic cycle therefore people build preventative
savings. These preventive savings are made due to uncertainty in the future
and pay more in an exceedingly boom, as they are sure of job security and
are optimistic regarding the long run. It may also be the case that larger
uncertainty ends up in demands for larger returns.

The growth rate of per capita income

High levels of financial gain and growth seem to be related to higher levels of
saving. Moreover, the influence of financial gain tends to be larger in
developing countries than in developed ones.

Inflation and growing interest rates

If real interest rates of the banking and financial establishments in country are
terribly low this may tend to steer to reduced saving, high real interest rates
create saving additional engaging. The result of inflation depends on the sort
of inflation and also the level of uncertainty related to it. Once costs are rising
faster than incomes, folks could modification their consumption habits, and
can tend to disserve. If inflation is outstripping interest rates, people are
possible to shop for giant price ticket merchandise, like vehicles or article of
furniture, instead of place cash into savings notwithstanding this suggests
accessing extra credit to try to therefore. If inflation is driven by value inelastic
merchandise like fuel or food, the impact is probably going to be a rise in
consumption prices and therefore reduced ability to avoid wasting.

Credit Accessibility
Evidence from created nations proposes that utilization increments when
credit is all the more unreservedly accessible. One investigation of creating
nations in Asia found that more created money related framework builds
setting aside to a point, after which the accessibility of credit decreases it.
This proposes the upsides of a formal monetary framework in giving a

16
protected and productive method for saving are eventually exceeded by the
benefits of credit as a method for smoothing utilization.

Distribution of Age Groups in a Population

As per the life-cycle hypothesis, people save amid their working a long time to
accommodate their requirements in retirement. In reliability with this, nations
with higher shares of “dependent populace (more youthful and older working
age) tend to show very low private saving rates.

Effect on Household Savings of the Financial Crisis

Diminishing saving rates in numerous economies throughout the decades
preceding the monetary emergency are probably going to be because of a
blend of elements: falling genuine intrigue rates, ideal loaning conditions,
rising resource costs and more noteworthy monetary solidness. Net riches in
numerous nations expanded over this period, particularly lodging riches. As
individuals saw the estimation of their homes rise, they saw less need for
preparatory saving, particularly in the event that they could get against the
expanded valuations. In nations like France, where individuals can't utilize
their home as insurance for obtaining, the impact of house costs on the saving
rate is much more quieted. Credit was vigorously advanced in a few nations
and, with insight into the past at minimum, underpriced for the level of hazard
loan specialists were really acquiring. The causes of the monetary emergency
of 2007-08 are numerous, however there is little uncertainty that people
furthermore, monetary organizations neglected to comprehend the dangers
they were taking in the credit advertise.

The monetary emergency encouraged a retreat in numerous nations; riches

declined by and large, joblessness expanded and general trust in the
monetary framework disintegrated. Access to credit decreased altogether.
These progressions made vulnerability; more seasoned laborers postponed
retirement keeping in mind the end goal to counterbalance their decrease in
riches and the saving rate expanded crosswise over numerous nations,
notwithstanding, in many cases, tireless low loan costs. There is some
confirmation that individuals move their speculation portfolios into less
17
dangerous, more fluid, money related resources in the midst of
precariousness, despite the fact that this impact might be quieted by low here
and now rates of return. Investigation of the US Survey of Consumer
Finances discovered little distinction between preretirement age bunches
whose benefits had declined in esteem (by more than six long stretches of
regular wage) amid the money related emergency and those whose had
picked up. In the two gatherings, there was an expansion in the extent of
families unwilling to take money related hazard from 2007 to 2009, and an
expansion in middle preparatory funds. Truth be told, the individuals who had
seen the best increment in riches expanded their funds the most

This proposes vulnerability might be an especially intense driver of investment

funds conduct. As economies recoup from the impacts of the monetary
emergency, saving rates may be required to decrease once more. There may,
be that as it may, be a long-term affect on the accessibility of credit if loaning
conditions are fixed, and costs all the more precisely reflect expenses and
dangers, including any expenses of more tightly administrative prerequisites.
With the chances to “dissave less appealing or nonexistent, many
individuals will be slanted to save all the more, all different things being
equivalent. On the off chance that there is waiting vulnerability about
monetary prospects, family units may likewise look for to pay off obligation or
construct prudent reserve funds. Low financing costs and rising expansion
may likewise prompt a move far from customary reserve funds items, into less
secure ventures which offer a higher return or resources which are viewed as
being safe in the long haul, for example, gold.

Thought processes of the Households to Save in India

One model of family unit saving is based on the concept of investments for
their future which encourages people to endeavor smooth lifetime utilization
by building up their saving while they are procuring and running down their
funds once in retirement. More modern forms of the life-cycle display consider
vulnerability about life expectancy, profit, and loan costs as components that
make utilization smoothing more troublesome. While this model can help
18
clarify saving examples to some degree, saving inspirations are, by and by,
more intricate. There is a broad writing on saving thought processes, which
recommends that saving may be preparatory, for characterized objectives, or
for more conceptual reasons like confidence, or then again the need to feel
autonomous Some of the primary reasons are demonstrated as follows:

Figure 4.3: Pictorial diagram for types of Motives

The Lifecycle Motive

This is to provide for predicted destiny costs in the course of old-age, whilst
individuals will now not be able to rely upon earnings and their earnings are in
all likelihood to lower. This includes pension saving, as a unique kind of long-
time period saving.

The Precautionary Motive

This consists of money positioned apart to cowl unforeseen occasions or to
offer a buffer towards events like task loss, illness, courting breakdown, or
accidental damage to family items.

The Improvement Motive

19
This is to enjoy a regularly enhancing way of life. This may include brief term
saving for client durables, vacations, or presents, or longer-term saving for,
say, a toddler’s education or wedding, or the deposit on a automobile or
residence (sometimes referred to as the “down payment reason).mortgage
repayment is likewise a form of „improvement saving: for example, repaying
a mortgage or a loan on belongings which include belongings, farm animals or
machinery. In addition, repayment of a scholar mortgage is a shape of saving.
In this case, the asset is human capital, which can be used to generate an
earnings circulate.

The Enterprise Motive

This is saving to accumulate sufficient money to perform speculative or
business interest, i.e. saving for the cause of generating extra money.

The Bequest Motive

Some human beings save without a purpose of using the money of their
lifetime – they positioned money apart, or keep property, explicitly to skip
directly to children or other own family individuals. The bequest reason
explains why human beings keep greater in antique age than the existence-
cycle model could are expecting. Different troubles may also be applicable to
the development of financial schooling and focus regulations, mainly.

Different Issues
Other than the above expressed factors there are different issues that impact
family unit saving/speculation:

Motiveless' Saving: A few people develop reserve funds just in light of the
fact that their salary is reliably more significant than their use, and they don't
effectively deal with the overflow. For this situation, individuals may not
amplify their money related prosperity.

'Bonuses’: Individuals at times get an aggregate of cash out of the blue, for
case through a legacy, excess installment, or notwithstanding winning it. This

20
requires dynamic basic leadership and maybe thought of items which have
not been utilized some time recently.

'Dissaving': A variety of items ends up plainly accessible when individuals

begin to draw down their riches in seniority. Benefits resources and other long
haul reserve funds are by and large used to create a wage in retirement.
Individuals may likewise have property, which can be utilized to discharge
money, either by "trading down", or influencing utilization of value to discharge
money related items. Dissimulation carries individuals into contact with an
alternate arrangement of items from those which they have seen earlier and
that require an alternate arrangement of basic leadership aptitudes, including
annuities and graduated house buybacks.

Families Saving/Investment Pattern

The way individuals save can significantly affect the economy. An excess of
casual saving, or an inclination for saving in property or animals, for
illustration, may mean deficient monetary venture for long haul development.
A dependence on outside speculation or defenselessness to remote mutual
funds looking for a fast benefit can prompt monetary market unpredictability.
When all is said in done, individuals with higher livelihoods will probably save
with money related organizations, and in nations with all around created
capital markets more liable to purchase stocks and offers and make other
monetary ventures. Property is as often as possible utilized as the principle
non-money related venture. In bring down salary nations; individuals will
probably put resources into domesticated animals, family unit merchandise,
gems or gold.

Individuals on low wages are considerably more liable to save casually,

regularly keeping money at home, or with relatives. In some low-wage
nations, individuals utilize common reserve funds clubs or self improvement
gatherings for instance, investment funds and credit affiliations, which develop
savers’ assets to loan to individuals from the gathering.
Credits might be long haul, or here and now to cover crises. The gatherings
are self-managed, group based and law based. Saving cash casually
21
regularly implies it isn't secured, so the hazard is higher and there is no
review. Funds clubs are not directed and the security of the cash saved relies
upon the individuals themselves, and specifically the treasurer. Hamper plans
are likewise not managed as, legitimately, the saving is installment ahead of
time for products and enterprises.

There are additionally sex contrasts in saving propensities. An examination

found a "savings gap amongst ladies and men that couldn't be represented
by salary contrasts. Ladies were as prone to save as men, be that as it may,
they saved less cash and will probably put something aside for the here and
now, though men put something aside as long as possible. A similar report
likewise found that women's investment funds designs will probably be upset
by lifetime occasions, for example, having a baby or getting separated. Men
will probably save when they progressed toward becoming fathers; ladies
more outlandish when they progressed toward becoming moms. The sex
contrasts were considerably less clear for ladies without youngsters. Young
girls between the age of 16 and 24 tend to save more than boys, and will
probably select in a business benefits plot.

The outcome of various saving examples in created nations is that ladies are
probably going to be less fortunate in retirement than men, and to depend on
state benefits. Women's saving conduct likewise contrasts from men's in
creating nations. A World Bank ponder took a gander at family unit board
information for 20 nations this presumed wage and different wellsprings of
women's bartering power, counting training and resources, significantly affect
family unit spending choices. As in created nations, ladies spend a greater
amount of the cash they control on sustenance for their kids and other family
needs. This could be viewed as a speculation, as sound youngsters will live to
care for their folks in maturity. Women’s saving conduct likewise relies upon
nearby culture – e.g. the need to save for a settlement or to dispatch cash to
guardians – and their entrance to a protected place to keep their cash. For
instance, other relatives may take money, though gold is viewed as having a
place with the lady herself.

22
Behavioral Influences on Saving & Investments
Individuals don't generally act soundly. Profound established behavioral
predispositions and outer impacts can influence both the choice to save and
how to save. Regularly, anxious people lean toward moment satisfaction (i.e.
quick utilization) as opposed to keeping their assets for future pleasure,
prompting lower saving.

Not exclusively do many individuals want to live for now to the detriment of
tomorrow (i.e. they have a tendency to favor littler, prompt installments to
bigger, more inaccessible ones), in any case, they regularly likewise show
conflicting time inclinations. Those with a high inclination for now will probably
have Visa obligation, notwithstanding taking into account factors, for example,
wage. They may likewise normally incline toward „instant access investment
funds items or, if mindful, the inverse: to bolt up their cash to maintain a
strategic distance from the impulse to spend. Starting to save is regularly
seen as troublesome or time devouring, and stalling is a typical explanation
behind not saving. Individuals know they should save, and have the best
expectations of doing as such at the same time, when looked with
multifaceted nature and decision over-burden, choose to "do it tomorrow".

In the meantime, individuals additionally tend to show a solid "status quo"

inclination. There is additionally some proof that identity characteristics can
influence whether individuals save or on the other hand not. In one
investigation, non-savers considered themselves to be generally less cheerful
and sound. They will probably feel unfit to control their circumstance
throughout everyday life and less ready to prepare. Non-savers guaranteed
they couldn't stand to save, even despite the fact that many had high salaries.
Conversely, individuals who viewed themselves as upbeat will probably save,
maybe in light of the fact that they had a more positive vision without bounds:
considering retirement to be giving them chances to invest energy in
diversions, family, or occasions. Troubled individuals may have a more
negative view, seeing just decrease and sick wellbeing in maturity. Another
driver of obviously silly conduct is “mental accounting”, or the inclination of
individuals to for all intents and purposes place cash into various pots. This
23
can clarify, for instance, why individuals may at the same time save at low
loan fees and obtain at high rates. Confirmation proposes that people who are
more in terms of their future guessing put resources into the share trading
system when all is said in done, and, particularly, less inclined to purchase
values specifically as opposed to put resources into common funds.

The hypothetical dialog made in the above areas of the investigation

unmistakably talks about on the connection between money related education
and family unit monetary conduct. These issues are asserted essential, as
people are progressively being approached to assume on liability for their
monetary prosperity and their retirement arrangement. In any case, scientists
have discovered that people don't sufficiently spare for addressing money
related requirements at various phases of life cycle. Also, approach producers
of decision governments in nation are occupied with comprehension
regardless of whether money related training influences sparing conduct and
what sorts of instructive projects are best.

24
 4.1
SURVEY OF INDIVIDUALS

Data has been collected from different groups of women such as working and
housewives. The relation between data collected and the hypothesis was
established on to understand the level of planning of finances and money and
decision making by women. The result of analysis indicates that women’s
decision for financial planning did not include their individual decision but were
either influenced by their partner or other family members which resulted in
poor decision making process on their own.

Considering a total of 216 responses for setting up the research work we have
asked questions related to financial decision making from the desired set of
population of women. Financial decision making was affected due to different
factors such as education level of women, advice from partner or spouse,
other people living in the family and importance of media. The questionnaire
was prepared based on the factors mentioned above to understand the level
and knowledge of women involved in deciding how to make use of their
money. This indeed helps in understanding different financial products which
was examined through tabulation and percentage calculations.

25
 Figure 4.1.1: Age Group

In the survey, with reference to question no. 1, we conducted the survey in

random age groups to find out how financial or money decision making
affected at certain age groups. This is illustrated in Figure 4.1.1. To
understand this we considered the following age groups in Mumbai Region:
Ranges of data are given in the questionnaire. The motive behind dividing the
age category is to understand which category of women are the working class
and ensure the flow of the research work in the right direction. Mumbai being
a metropolitan city and having a scope of job opportunities, a lot of women
need to find suitable jobs and with high cost of living a lot of them pursue to
find jobs to support their education and family. This indicates that all age
group of women earn their own bread and butter and support the well-being of
their family. Not only giving their family a sense of security but a job provides
them to save up for the future generation and making sure they have a better
life ahead.

The major bracket was 31 – 40 years with 35.6% of the population. This
category is actually the ones who are majorly influenced with savings and
investments due the sense of responsibilities on them. Whatever savings and

26
investments done in this period of age will not help them security for them but
others too, especially their old parents and children. The next set of
population bracket was 41 – 50 years with 33.8%. This age group is generally
the ones who have kind of secured their family and are now looking to just
save their earning by investing in property and higher education of their
children. The bracket of 21 – 30 years was 22.7% of the population who are
making their career and trying to place themselves in a good position to
support their liveliness ahead. Many young girls in this category are either
planning for their higher education with the help of family support or their
marriages. In an Indian society this is the apt age to get married and settle
down. And the last was 51 & above with making 7.9% of the population who
now probably are just enjoying their retirement and pensions. This very clearly
indicates from the Figure above that most of the women who are working or
housewives fall in to the age bracket of 31 – 40 years. Age also been a factor
which decides how long to work because of family responsibilities and health
issues, this is very critical to our study of research.

Figure 4.1.2: Gender

In this survey, referring to question no. 2, it has been seen that we have
considered the major population of females in Mumbai Region which is 99.5%
which is clear from the Figure 4.1.2 above. Since the research work is based

27
on target group of working women, we wanted to understand their nature,
behavior and understanding in financial planning and decision making.
Therefore the survey intends the questionnaire only to females within Mumbai
Region. With the world rapidly changing the cost of living, education and
supporting family is crucial hence we see that a lot of women are becoming
helping hands for men to support well-being of their families. Earlier sex
variation was evident with males being preferred to make all decisions for the
family and supporting them for the upbringing of children, educating them and
taking care of all other family members. But times have changed and we see
more and more women or females who stand shoulder to shoulder with men
to do the same duties as they do. Many job roles have been also assigned in
India and other countries to provide equal rights to women and a lot of
governmental and non-governmental agencies are working towards the same.

In a society like India sex variations or gender gaps has always been a matter
of discussion. Providing equal rights to girls and women have always been the
highlight for several years. With the help of other nations India also has joined
hands to empower women in urban and rural areas. This not only will help us
stop sex discrimination but also exploitation, oppression and harassment of
women. Most cases today are seen in rural or village areas where we still
have to reach out. Other issues such as child marriages, child labor and sex
trafficking hinders all this techniques of improving the lifestyle of women. Even
though tough rules and regulation have been outlined by the law enforcement
bodies, yet all these issues still prevail as women tend to keep quiet and not
tell this to anyone.

28
 Figure 4.1.3: Ratio of Working, Housewife and Business Women

In this survey, referring to question no. 3, it is seen that 75.1% of the total
population is of working women, 16.9% is that of business women and a very
small percentage of 8% are housewives. This clearly indicates that a lot of
women prefer to work to be a helping hand and take care of the family.
Working women being the major category of our research work we have
asked them how working influences their decision making. Also illustrated the
same in Figure 4.1.3. Most women who work stated that they find themselves
independent when it comes to spending or saving the money. They could
decide what portion of their money goes where and how they can
independently decide how to make good use of money. They said that they
used the money in buying gold, creating fixed deposits, invested the money in
property or equity shares. Here the decision making was made along with the
advice from spouse or husband and other family members. On the other when
asked the same question to business women they mentioned that it gave
them more self-esteem and right to completely decide about their finances.
They did not have to ask their husbands or family members as there was a
complete bond of trust on them. But the housewives on the other side still
depicted dependencies on their family members.

29
With increase in the number of divorces and separation of marriages, women
choose to be independent and manage their own expenses. Hypothetically
many women prefer to be single or single parents with no dependencies
created. This gives them the freedom of decision making and the right to do
what they want. Since in this case they solely are the ones in financial
planning and decisions making, many think they have the adequate level of
monetary knowledge. Actually, it is solution towards monetary independence?
This is a major question which is yet to be answered.

Figure 4.1.4: Relationship status

In the survey conducted, it is clearly seen that 85.6% of the respondents are
married and the rest 14.4% of women being single or not married in Mumbai.
In India girls tend to get married as soon as they complete their graduation
and start growing a family of their own. This is illustrated in the Figure 4.1.4
above. Before even these young girls understand what it is actually they are
already involved in taking care and well-being of their in-laws and children.
This majorly contributes to them being less exposed to the outside world and
opportunities for further studies or education and also of grooming themselves
professionally.

30
With very little choices left in hand, they only become a source of earning and
looking after the family. Things like investments, savings become secondary
as their primary goal is the welfare of the husband and children. They start
saving up only to give their children a better future but forget to improve on
their skills and techniques.

Figure 4.1.5: Women who are graduate

In this survey, with reference to question no: 5 we found out the educational
qualification level of women. The survey findings indicate that about 66.8% of
the population of women are graduate and have obtained enough qualification
to understand. The rest 33.2% of the population of women are postgraduates.
This is illustrated by Figure: 4.1.5 shown above. This figure indicates that
there is a good amount of women in Mumbai region who understand that a
suitable graduate degree would give them exposure to better knowledge and
hence a way out to manages their finances better. Being graduate compels a
lot of ladies and girls to know what is right for them and with this comes better
decision making skills.

31
A lot of girls brought up in cities like Mumbai and others have the opportunity
to at least obtain better qualified degree which can lead them to a good skilled
and professional job. But on the other hand girls from the rural area do not
have such exposure. With no facilities to schools and colleges they are so
dependent on their parents first and after marriage on the husbands. All this is
due to lack of education and no independence to make their own decisions.
Though government and other institutions have taken charge to improve
these conditions of the girls and women in rural areas but still there are few
taboos of the society which hinder them get hold all of them. Though India has
been independent over 70 years there are women who are still not
independent to take their own decisions and are depending on their spouses
and families.

A higher degree of education in women would allow them to select an

appropriate job which in turn helps them earn better and also have a
comfortable living. Post-graduate degree gives a higher standard of education
and exposure to more learning and grooming the living of a person. They also
provide confidence to get one placed in a suitable position in terms
promotions and salary hikes. Also provides women with options to work for
on-shore and off-shore job positions.

Figure 4.1.6: Day to day decision about money

32
Referring to question no. 6, when asked in the survey whether you are
authorized to take any choice at homespun for basic amenities and expenses.
Around 17.7% of the population has responded saying that they themselves
take the financial decisions. Around 19.1% of the working women have
responded that their partners individually take the financial decisions. While
21.4% of the population has responded that their family members have taken
the decision about their finances. While 41.9 % of the population has
responded that they along with their partners take the financial decisions.
From this survey we can conclude that majority of the working women’s
financial decisions are based and are been consulted by their spouse. Only, a
minority of working women take their own decision.

This is due the influence of our Indian culture that a women needs to consult
her spouse or family for any financial decisions. This tradition has been
structured ages ago and will take a considerable amount of time to change
the mentality of people. In spite all of these reasons there are a few working
women as per our survey indicate that they take their own decisions. This is
because few of them are becoming confident, independent and this is an
influence of the western world. This can be easily noticed in the figure above:

33
 Figure 4.1.7: Responsibility of financial decisions at home

Referring to question no. 7, when asked a question in the survey about the
responsibility in taking financial decisions at home the following findings were
made. About 43.7% of the population has responded saying that the
responsibility of financial decisions is made by both husband and wife
together. Around 27.7% of the population has responded that only their
partner (or spouse) takes responsibility of making financial decisions at home.
The other 7.5% of the population has responded saying that they take the
responsibility of taking financial decisions at home. A small portion of around
20.7% of women responded saying that along with other family members they
take the responsibility of all financial decisions.

The findings in Figure4.1.7above illustrate how women have to depend on

their spouses or other family members for taking financial decisions at home.
This is due to the fact that there are many families in India who live in a joint
family. As a result they are not allowed to just any decisions related to
household finances alone or single handedly. In such a situation it is believed
that all living in such a family will be able to manage and take better decisions
with regards to money and make an ample of savings.

34
 Figure 4.1.8: Financial Products

In the survey, with reference to question no. 8whether they have heard of
financial products like pension fund, mortgage, savings account, insurance,
shares, credit card, Bonds, debit card, current account and bank securities.
Out of 216 respondents, 207 have heard of savings account and 179 have
heard of debit card. 169 respondents have heard of Insurance and 156 about
credit cards. 154 respondents have known about mortgage and 77
respondents have known about pension funds. 63 respondents have heard of
shares, 60 respondents have heard about current account, 19 respondents
have heard of bonds while only 11 respondents have heard of bank loan
securities. This is shown if the above Figure 4.1.8.

Many women in India know about savings account as they can keep the
money that is not required at the very moment and earn a monthly interest.
These bank accounts help customers to keep liquid assets aside and earn
monetary returns. Apart from that many banks have developed woman’s
savings account which provides opportunities to women so that they can
invest themselves. Such banks also provide offers to skill-building courses for
example personality development courses, lessons for music and IT
certifications. With all these offers they provide other facilities such as
discounts of children education loan, healthcare, etc. These offers together
enable women to not only look after themselves but also their families. Along
with that they also receive debit cards to withdraw money whenever required.
These debit cards given by banks also provide exclusive offers with reward
points for shopping, purchase of certain luxury items such as gold. Credit
cards also offer such reward points for fanatic shoppers and similar facilities
such as the debit cards.

Insurance policies are purchased by many women, especially the ones who
have been independently taking financial decisions. This gives them the
flexibility to pay bills for their hospitalization, hassle free claims and value
added benefits. Mortgage for women are designed so that they can meet their
specific needs and also their families. Many of these mortgage schemes are
35
owned and operated by women. Financial bonds help business women and
raise awareness for gender issues. Current accounts in turn also help
business women or women entrepreneurs to create bank accounts for their
businesses, companies and associations operated by women. A lot of women
have also been investing in shares and mutual funds to bridge the gap of
gender issues. Pension plans are being designed to enjoy their retirement
income for life. Banks like SBI in India have enabled business funding to
females who run their own business. This funding is done at a lower
percentage as compared to any other funding.

Figure 4.1.9: Advice from friends or colleagues for financial decisions

Referring to question no. 9, when asked women whether they take advice
from friends or colleagues for taking financial decision in the survey the
following findings were discovered. Around 57.2% said yes that they depend
on their friends or colleagues while 42.8% said no. This has been illustrated in
the above Figure 4.1.9. As we can see almost 50 percent of the women do
consult their friends and colleagues while taking decisions of money or
finances. Sometimes women observe and discuss their financial investments
with their colleagues and friends at work or otherwise. Seeing and
understanding the benefits that their co-workers or friends are earning, they

36
also get persuaded to invest. They also consult their friends or co-workers to
gain advice about mutual funds and equity shares.

Many men consider their wives as custodians or cashiers and not as

managers to handle their money or business. Women are considered only to
look after day-to-day household expenses or for special occasions such as
festivals or major expenses like buying gold or purchase of property. Male
partners always find day-today household expenses tedious and complex and
hence leave this decision making with their wives. Ironically men consult their
male friends, co-workers or family members when purchasing shares on
investing in equity markets. They do not find their wives wise enough because
of their low knowledge on finances. Forced intrusion by wives in such matter
can threaten their marital relationship. Due to such issues and less
understanding and knowledge about finances, women do not have the
confidence to make such decisions on their own. All they look is for good
advice or consultation. A good financial advisor or planner can also turn out to
be a good friend who can guide them to make wise financial decisions.

Figure 4.1.10: Dependency on advice from Spouse or Partner for

decisions
37
Referring to question no. 10, when asked in the survey whether you consider
the advice of your partner / spouse while taking financial decisions, the
following findings were observed. About 87.9% of the populations of women
have responded saying that they depend on the advice from their partner or
spouse to take financial decisions. While at the same time around 12.1% of
the population of women have responded saying that they do not take the
advice for financial decisions from their partner or spouse.

This is due to the fact that our Indian culture gives more importance to men in
taking financial decisions at home. Apparently, it is believed that men like to
be in charge of making money decisions whereas women are considered to
look after managing other chores and make sure their children have better
upbringing. It is also believed that men have better knowledge on finances
and can do good planning of finances. In an Indian society men prefer to take
major financial decisions such as investments in shares and equity markets.
They think of their wives as a person who can only handle cash and not
manage their business or taking decisions on investments. Male partners find
daily affairs to be very difficult to manage and hence look up to their wives to
take care of the household expenditures. Due to this women have a better
status in their household matters along with earning extra money through
part-time or full-time jobs and meeting the family’s requirements.

Many women are not allowed to work outside of home especially after
marriage due to in-laws and husbands choice. Hence they have to depend on
their partner and family members for taking financial decisions. Traditional
gender role depicts male partner to be competent, positive, confident and
authoritative while emotional, obedient, supportive and patient. Therefore
women consider taking the advice or suggestions from their partner or spouse
for planning financial decision. It can be noticeably understood in figure
above.

38
 Figure 4.1.11: Role of media for financial decision making

With reference to question no. 11 in the survey conducted, the findings were
made on how important is the role of media in making financial decisions. It
was seen that about 54.4% of the population responded saying that media
has to play a role while taking financial decision. The rest 45.6% of the
population responded saying that media does not have any role in the
planning of financial decision making. Television broadcasting adds to a lot of
data and analysis to the general public to participate in discussions and
decisions to mould lives of people. There are evidences suggesting the quality
and positive impact it has on society as an independent entity has to be seen
as a crucial development itself.

There is also a general agreement made by international countries on the

importance of media in social, economic and political progress. But yet
independent media has not gained much development. Less than 1% of
international budget is allocated for media’s development. Investors and other
financial groups want to increase the value and demand for media. In today’s
world media plays an important role in choosing the right financial model for
making better decisions. This is illustrated in the Figure 4.1.11as seen above.
This is because they want more and more people around to view their
39
products or learn more about choices of the financial products developed by
them. Many financial products like insurance policies, offers provided by
banks, mutual fund investment schemes, pension funds, etc are taking the
channel through media. These channels are television, online offers on social
media sites and radio.

Television and radio has played a vital role by promoting and displaying
commercials based on the use and benefits of these financial products.
Television is watched by every home and displaying information about such
products builds curiosity to know more about them. Online social media sites
also display various advertisements related to investments and saving
programs. With many people logging on sites like Face book for example,
there are more and more promotional advertisements displayed on the users
home page or called as the “The Face book Wall”. Other sites also provide
adequate information on these programs. Newspapers also play a role in
distributing information about such schemes and programs. A housewife who
may have no access to television or radio or any of the social media sites, at
least can read and learn about such programs. NGO are also approached by
different agencies to reach out to the rural women of India where it is ideally
difficult for media to reach out.

40
 Figure 4.1.12: Ratio of women who have FD above 1 lakh
Referring to question no. 12, when asked whether you have a fixed deposit
above 1 lakh in the survey in Mumbai Region, 90.2% of the respondents said
Yes and 9.8% of the respondents said No. The Figure 4.1.12 above indicates
that many urban women do savings with the help of fixed deposits. The urban
woman who is working and knows about offers from banks has better
information and knowledge about the fixed deposit schemes. Fixed deposits
are a way of saving money which a lot of families are already aware of, but
many housewives or rural women may not have known the benefit of it.
Fixed deposits are basically regular savings account with a higher rate of
interest for investors provided by banks or non-banking financial companies
(NBFC’s). This interest rate is paid until the date for maturity of that account.
Sometimes you might be instructed to start a novel banking account or in few
scenarios you might stick to your existing ones. Such deposits are considered
to be safe investments. This is because in a fixed deposit you cannot
withdraw money until the maturity date as compared to recurring deposits or
demand deposits. Other benefit of having a fixed deposit is that banks provide
loan against such fixed deposit certificates with competitive interest rates.
Generally the interest rates for these accounts vary in a smaller range lesser
than five. Period of the funding or maturity date can be for less or for several
periods and sometimes it can be for several decades.
To empower women, DHFL Company has initiated a fixed deposit scheme for
them called as Swayamsidha Deposit. DHFL was established in 1984 as one
of the leading housing finance company in India. DHFL is providing wide
variety of fixed deposit scheme, which are customized as per the need of the
customer. They are offering specialized schemes for individuals, companies,
women investors, trust &societies. DHFL takes care of every customer who is
senior citizen, personnel in military, navy or any government departments
which protects the country, their funding borrower, and small business funding
borrower and treat them as privileged customers by giving them extra interest
rate of 0.25% under their “DHFL Aashray Deposit Plus” and “self made”
products. The investment programs that are run under this parameter of self
made are little higher charged as compared to other funding for house ad
there is no collateral for this funding. Only in case of female customers they
41
are benefited by giving some rebate in the charges for the funding. Self made
people can actually invest their money even in a smaller chunk of amount so
that it forces them to capitalize their hard earned money.
Few benefits of this self made program investments:

• Special discounts in terms of processing fee and charges levied on the

funding
• Period of funding is less ac compared to that of house
• You can also deposit your own investment document and take a two third
amount of that document as a funding from banking institution.

Figure 4.1.13: Percentage of Income towards Savings and Investments

In the survey, when asked question no. 13 on how much percentage of your
income goes towards Savings and Investment, 37.6% of the respondents said
only 30% of their income goes in Savings and Investment. 34.5% of the
respondents said 20% of their income goes into Savings and Investment and
15.2% said only 10% goes in to Savings and Investment. While the rest 7.1%
said 50% of their income goes in to Savings and Investment and the rest said
that 40% of their income goes in to Savings and Investment. Many women in

42
India due to lack of education or exposure to the outside world have very less
information and knowledge on the different savings and investments schemes
developed by the government and other institutions. This just is not because
they lack education or exposure but also because they cannot individually
decide on the finances or use of money. Either they are dependent on their
partner or spouse or their family members for decision making. Many
housewives face this issue day in and day out. Their husbands who are
working only spare them with the money required for day-to-day expenses
and are asked end of the day on how much they have spend just to keep a
track of the expenditure made. They do not have access to people with
knowledge who can pursue them into various saving schemes. Even if they
wish to consult someone they would be afraid to share their household
income of getting deceived or cheated. For every decision with regards to
money they would need to seek advice of parents, in-laws, partner or any
other immediate family members.
From the above Figure 4.1.13 it is clear that even the working women don’t
have adequate knowledge about savings and investment programs and
hence they cannot make better decisions related to their income. Another
reason is that Mumbai has a very high cost of living and even though both
partners are working it is tedious to sum up the income for savings. Apart from
this children education also has been expensive. To offer better future to their
kids every parent is striving hard for admission in good schools and colleges
and also to offer good qualified degree to them. All this leads to daily
expenses going up their budgets that they have mutually decided. Education
system for kids has become very competitive with each day and both parents
and kids have been struggling through this to make their future secure.

43
 Figure 4.1.14: Family influence in women’s financial decision making
With reference to question no. 14 asked in this survey, whether family
influences financial decision making, 91.1% of the respondents replied with a
Yes and only 8.9% of the respondents said No. This is shown in the
Figure4.1.14. The working women tend to be a helping hand for the family in
case of sustaining life in bigger cities like Mumbai. The word family depicts a
picture of a husband, wife, in-laws (in case of joint family) and children in a
single household. The joint family pictures her parents or grandparents, uncle,
aunts, cousins, etc. who also influence her with the use of money. To be very
economical and support finances and social status with high inflation and all
expenses going up, both partners need to work and earn a better living. But
even though a woman works she still does not hold the right to financial
decision making independently.
As a young girl she is dependent on her parents to make decisions about use
and spending of money. Without asking them she cannot even chose her
choice of education because her parents have a fixed amount saved up for
her schooling and higher education. She now thinks that after marriage the
situation would change but it is not. Now her husband or partner takes over
the charge of deciding her use of money or savings. Apart from this her in-
laws also have a major influence if it a joint or bigger family. All of them
mutually decide and spend the money for their household expenditures. Then

44
comes the kids for whose welfare and future she spends the money with the
help of her partner. As she gets old her children decide how much needs to
be spent. In short a woman’s life is a cycle where only different people taking
over her financial decision making.

Figure 4.1.15: Education provided in school/colleges about financial

planning
In the survey, with reference to question no. 15, women were asked whether
they were provided with education on financial planning or investment
opportunities in schools or colleges. Out of 216 respondents, 85.6% of them
responded saying Yes and 14.4% of them responded saying No. This is
illustrated in the Figure 4.1.15 above. Education system in India does provide
information on various finance and economic related subjects but enough
knowledge and how to make use of this not given properly. The respondents
who said Yes did mention that they had subjects on accounting, costing,
finance and economics but they were more theoretical than practical
knowledge. They have heard about different kind of savings and investment
programs also but do not really know what the use and benefits of them.
Thus I get to see that many women just learn for the sake for getting a
qualified degree but really don’t understand the intricacies of these studies.

45
They think that getting excellent scores by mugging up the theories will fetch
them a skilled job and there is no use of these subjects in future workplace.
Parents also don’t force girls or pursue them to study harder with a mind-set
that they will get married one day and will be involved in the welfare of the
family. With no encouragement girls also don’t really take much interest in the
same. Only when they start working they realize the importance of savings
and investments of money. But with no access to courses or certifications and
no time from their schedule again this remains untouched. Age just passes by
for these women and the piled up responsibilities takes them away from such
studies and importance of it.
The respondents who said No are who never came across these studies or
who have not studied much. Also a set of housewives who got married at
really young age due to family conditions or society issues are the ones who
may have really not heard about them. Many women who belong to the rural
areas also may hot have heard about these subjects as a part of their
curriculum. This makes them unaware of such studies or topics. My
suggestion on this is to improve the education system which has improved
topics and more financial knowledge at school or higher secondary education.

Figure 4.1.16: Government initiative to improve financial education

46
In the survey, with reference to question no. 16, women were asked whether
you think government should add this as a part of syllabus or curriculum in all
educational institutions, which will educate every individual to take wise
financial decisions. 68.2% respondents replied saying Yes while 31.8%
respondents replied saying No. This is clearly shown in Figure 4.1.16 above.
The ones who said No probably did not understand the importance and use of
financial decision as they may not be majorly involved in the decision making.
As discussed earlier in the research work we have seen that many women
don’t have the opportunity to make financial decision for the well-being of the
family. Therefore they don’t realize the importance of financial education.
Their complete dependency is on their partner or family for making the
decisions of household expenses. The only reason is not being literate or not
having enough financial knowledge.
The respondents who said Yes realize the importance of financial education
as they have been working on those aspects and understand the use of it.
They feel that government should involve more subjects of finance and
economics. More and more they learn about savings and investments
programs they feel the need for more knowledge about these subjects. Many
working women who are involved in financial decision making in private or
government sectors look for courses or certifications related to them. But
unfortunately there not many such courses on the same. The business
women who are running business half to make financial decisions based on
the nature of their business. Therefore it is necessary for them to understand
and have enough knowledge about finance and economical conditions
affecting their business patterns. Hence it is ideal that government brings
more policies for sustenance of such entrepreneurial ventures. Females at
Country side are always deprived to avail the government policies due to
geographical and economic conditions. The demography of such places
restricts government to enter such areas therefore women in villages are
dependent on restricted knowledge to financial products and planning.

47
Programs such as woman’s savings accounts and Swayamsidha Deposit for
Women give her hence on or business women across the country. But just
these policies or schemes are not enough because our roots are not so strong
enough in terms of education hence government should include programs and
courses at the school or college level.

Figure 4.1.17: Ratio of women applying for Housing Loans

With reference to question number 17 in this survey, women were asked
whether they have applied for housing loan. 38.3% respondents replied
saying yes while the rest 61.7% of the respondents said no. Referring to the
results in Figure 4.1.17 above following findings was made. Many home loans
facilities have been provided for women by various banks. Someone who is
making his own house is always funded by the banking institution as a
support to build his house. If a person has a self contribution of 20 percentage
of the house entire value, the bank will then scrutinize the papers of the
property. If everything seems ok in term of approval, the loan file is then
passed to the evaluator who will gauge potential of the customer and then
based on multiple factors like his score record given by multiple banking
institutions and the salary or remuneration that he draws from his current

48
employer, the funding is been approved. This approved funding will always be
the deference of the total amount of the house, deducting the amount of self
contribution of the owner or investor. The balance amount is then given by the
bank to the previous owner of the house on consent of the new buyer.

It there is any issue in terms of percentage of funding, the bank will instruct
the person to fill the gap of investment for the house and will issue the funding
for the balance amount of the house. This process of approval or rejection is
based on several parameters. Few banks also appoint some third parties to
make sure that the money that they have blown in the market is safe with the
buyer and is not misused. These financial inspection departments check each
and every customers background if he / she is capable for repaying the
money back to the bank in terms of the installments been given by the bank.

If at any stage if the financial institution gauge that the customer portfolio is
not satisfactory or is not in a position to hold the money or they are not able to
repay back the amount to the bank, they will scrutinize and escalate the case
to the bank, so that the bank takes a right decision thereafter. The ball falls in
the court of the bank now, whether they still wish to approve the funding for
such customer.

49
 Figure 4.1.18: Ratio of women applying for Business Loans
With reference to question number 18 in this survey, women were asked
whether they have applied for business loan. 7.9% respondents replied saying
yes while the rest 92.1% of the respondents said no. This is illustrated in the
above Figure 4.1.18. There are few working women who think of starting of a
business and independently running them. This is because of the fact that
women in India do not have support from their parents, partner, in laws and
the rest of the family. They do not trust their financial decision making
capabilities. In India women are considered to be weak, emotional and
vulnerable entities and hence our thought they do not have good
management skills for running a business. If this mindset of people in India
can be changed then we would have more women running successful
businesses. Male partners considered their wives only as an entity that can
look after day to day expenses and the well-being of the family. This idea has
been developed over the period of years as our Indian culture considers man
to be the head of the family and ultimate person involved in major decision
making.
Many women in India face this cultural disparity in gender issues and such a
condition increases divorce and separation in marriages. Business women in
India try to manage their business in a limited amount of finances as they do
not have too many sources of income. Also bank loans need a lot of
documentation and collateral required to get a loan approved. It’s not easy to
provide all the documents and collaterals as mentioned in the bank policies
therefore women do not apply for business loans.
The interest rates given by the bank are very high against bank loan
securities. These takes a considerable amount of times of paying back the
loan purchased. Few females who sustain on their own earnings are not
aware of the schemes and policies provided by the banks, widely at the
country side. They look for other sources of income to continue their business
this involves taking money from their husbands, immediate family members
money lenders and taking personal loans rather than business loans applying
for business loan in India is a very tedious process as it involves good amount
of bank balance heavy documentation and a trusted guarantor. Failing to
produce any one of these requirements the business loan does not get
50
approved. The only option left is to depend on other sources of income as
mentioned above.

Figure 4.1.19: Number of women owning a land on their name

In the survey, with reference to question no. 19, when asked women whether
they own a land, only 13.1% of respondents said yes while 86.9%
respondents said no. Figure 4.1.19 shows the same. Females who have lost
their spouse, of those who are separated from their husband or family, few of
them who are staying apart from their families are surviving in their lives like
slaves, under the supervision or burden of life by someone. They have to
always take favors from someone or the other to sustain their life and
expenses. These females are ignored by the society and other elements for
availing any benefits of the policies designed by the banks or government.

It is been noticed that females have never got their rights on land or properties
been owed by their forefathers. They have been deprived of the share of the
lands that their ancestors own. It is seen in our country that, male followers of
the family get their own shares and the females or children of the females are
not given their rights as prescribed by the law. It is seen generally at the

51
country side that females have no voice against the panchayat or the local
governing bodies to raise and ask for their rights and privileges. Thus, law has
started protecting the rights of females to make sure that they are not
exploited by their in laws or family members. There is a provision in law where
all lea heirs of the land or property that the ancestors have accumulated, the
males and females are equally responsible for the disposal and ownership of
the property. Females today do not need to be the victim of such unlawful
verdicts of the local bodies; they can approach the court of law asking for
justice. Law has protected such females and has instructed the males to
share the part of land or properties equally with the females as they are
equally liable for the property.

In our country, the percentage of population of females who hold lands as

compared to the population sample of males is very less, even smaller than
five percentages of the total ownerships.
In farming business, it is noticed that more than two third share of the total
population of the farmers are females and only a small share belongs to
males. Even if this is the case, the owners of the lands are not females but
are simple exploited by their family members and their relatives for the
ownership of land.
In farming lands, that belong to the females do not get all the benefits of the
government policies that are been issued by the responsible bodies. The
female farmers are also disadvantaged from the benefits that the government
gives to the farmers. Lands that are female owned have no access to the
government facilities. Few programs like seeds in less prices, fertilizers in
subsidized rates, free water to the farms are all been taken by those who are
been run by the male dominated population. The female population has to be
dependent on the males for all of these benefits. This does not just affect the
females but it also affects their children who are deprived from education due
to lack of benefits and advantages given by the government. Majority of the
children do not even get the basic amenities and facilities from their families
that they deserve as a child. These children are thus deceased or are
suffering from some or other diseases.

52
This attitude of the male dominated society at country side has stopped the
growth of the women population and their children since decades. There as to
be strict regulations to protect this.

Figure 4.1.20: Number of women investing in SIP

In the survey, with reference to question no. 20, when asked women whether
they have a Systematic Investment Plan (SIP) the following results were
found. Only 25.5% of the respondents replied Yes while 74.5% said no.

SIP is also termed as systematic investments and developing plan to devise

such investments. This plan helps the investor to capitalize their money in the
mutual fund market. It is meant for those who have no investment practice
and knowledge about the mutual fund market. This plan will help the person to
divert a small part of the saving of money into a fixed investment. If a person d
Does not follow such investment then he / she may lose the opportunity to get
good future returns. Generally in case of farmer females or females who are
involved in house hold activities or house hold work should be trained and
motivated to invest a smaller amount of their savings and money into the
SIP’s so that they get some benefit of such plans. This plan are designed in
such a way that the female can pa this smaller amount daily or weekly or even

53
monthly so that in long run the female will have a sustainable amount of
investment in the share market without able to invest a long amount in one go.

This plans not just save money and give good returns but also protects the
females from been exploited financially by their family members or in laws. It
will also promote and boost the habit or saving small pennies for the benefit of
themselves and their children.

The systematic investment works in the way that the bank or some agency
will manually or automatically deduct a small amount of share from their
savings or salaries and then invest that money in the share market. They will
allocate a document or bond to the individual investor for the amount of
investment that the person has done. As an individual the share market or
trade will not allow the individual to contribute to the share market but with
help of such plans at least you can invest in smaller portions in the trade
market. At least some portion of investment will help a person to have a share
of investment in the future. To foresee how many females invest in such
plans, you can refer to the figure given above.

Additionally, if the women has a smaller or bigger profits or money that she
possesses, she can add and purchase additional amount of shares and get
equivalent number of documents in the plan that she hold with the trader.
Thus, it is also said that this systematic investment is a helping source for
every female and is useful for females to incorporate the savings in her kitty of
investments.

Decades ago, it was seen that females used to invest in the gold and
ornaments as that was considered as the best source of investment for
females. But, appreciation of gold and diamond ornaments is very less. Also
in case of emergencies and difficulties the females have very less flexibility to
sell their gold and get money. On the other hand, the systematic investment is
absolutely flexible and thus in case where they need money, this is good
investment opportunity and model. This has lot of benefits and appreciation as
54
compared to the gold or any other ornaments. Plus the safety of the gold was
yet another issue for the females, as their families or relatives might steal or
forcibly take their investments and sell it to someone else. In case of
systematic investments, safety is not a concern as this savings are in forms of
intangible assets and thus cannot be stolen or sold without prior permission of
the females. In few cases, they don’t even need to talk or tell about their
investments to anyone so that their savings are always safe.
It is ideally seen, that females are very well versed with a quality of saving and
bifurcating. They bifurcate the total house hold money in parts and are then
distributed further into parts for the monthly expenses like food, clothing,
amenities, leisure, entertainment and others. Still females diversify some part
of the money as savings. This is actually referred to as budgeting which they
are in born talented and blessed. Similarly, they can actually remove a part of
their savings from their earning or salaries and then investment somewhere in
the systematic investments.
Financial stability and success does not just come from working hard in jobs
but it comes actually from thinking and investing smart. By investing in a right
portfolio, females can actually earn equal to that of their families or spouses
without any headache of working hard or leaving their household tasks. This
gives them flexibility to look for their kid’s welfare and education. Also they
can take care of their family responsibilities and assignments which will help
then to prosper in their personal life. Females are generally the building block
for the children and thus, having time for the kids is necessary. This
investment will give them this opportunity to exploit the market as well as
foster with families. They don’t have to fall prey and beg with their families for
money every time nor do they have to ask their spouse for any financial
decision. But, for this state females should be well trained and educated about
the investment options available and which is the best for them.
The major problem in this system is that, females do not have courage and
information about any of the investment opportunities and thus fail to take
decision for finances. There has to be a starting point. They can initially start
with small pennies and gradually surge their investment options. They should
start reading newspapers and articles to make sure they are knowledgeable
about the products where the trader is investing and thus they can also know
55
where to invest next. Government and banks will have to work hard to actually
make this happen by propaganda of advertisements of the plans. Few role
models should be identified in each sector and region so that that role model
can encourage the females within the region. These coordinators can be
social activist who are educated enough and encouraged to motivate females.
There has to be some financial initiatives for these coordinators so that they
work hard.
The investment will follow in the fashion below:

• Females will have an objective for investment which can be their children
education or marriage or just supporting the spouse or families
• Opportunities have to be found where females should start looking for
investments. There can be multiple options but to identify which is better is
challenge. Better in sense of flexibility of payments, tracking the payment and
so on
• Analyzing each and every alternative. For each option there has to be a
justification and why should they select this option. Each option has some
merits and demerits. Studying the history of the product is yet another
parameter. How it has performed in the past and will it prosper in future
• Activating the plan and signing up for this option through some reliable
source
• Check at every milestone whether the investment has been successful.
Each product should be gauged individually so that we understand the
potential of the product.
• After systematically revisiting the product, we can then decide to invest in
the same product or some other product.
• Slowly and steadily the amount of investment should be increased, thereby
increasing the portfolio size

Finally, such an investment will make the females and their dependents free
from any financial exploitation. This will also help them at old age to have
superannuation.

56
 4.2
SURVEY OF BANKING EMPLOYEES

This survey was conducted randomly by questioning Bank employees, Bank

Managers and Bank executives to know what is their perception of Women
literacy and investment in terms of banking definition. Also, this survey will
address the issues that the women face while making an investment. We will
also get an overview as to what is the stand of working women in the field of
investments. Do they really have a say in where to invest? Do they select a
right investment plan? Do the working women so for a risk free investment or
risky investment. The Survey also focuses on the road map and strategy
used by the working women while making an investment. The survey also
has few questions concerning the post-investment evaluation. Based on this
survey, below is the statistics:

Figure 4.2.1: Working Tenure

In the survey referring to the question no.1, when questioned the Banking
employees who are again the working women about their tenure or
employment with the organization, we have seen varied responses based on
the age group. We have seen that 10.3% of the working women have tenure
with their organization for less than one year. Less than 7.7% of the working

57
women have tenure of two to three years with their organization. Around 41%
of the population of the working women has work tenure of around three to
five years with their organization. Also, it is seen that, around 41% of the
working women have been working with their organization for around five
years to ten years of tenure. From the above statistical figures, it can be
clearly seen that the loyalty of the working women towards the organization is
much more. Even, I have referred an article which stated that the women
population is more loyal in terms of tenure in the organization. There are
several reasons for the same, one of them is generally the females who are
working women are mostly married who have liabilities of family, kids, family
members, spouse and others. They have other household liability and once
they enter into a comfort zone, they do not wish to hop between jobs as they
believe in stability. Another reason is that, most of the Indian women believe
in been intact in one job as they are most comfortable in the job roles and
responsibilities. They do not wish to enter into multiple agreements and
changes. Also, it is been observed that the Indian culture has been dominant
in terms of women who make them skeptical and less risk taking as compared
to the men co-workers. Few women are observed to be supporting their
household along with their spouse and thus, their income is just a
complimentary income as compared to the contribution of the husband
income. There is less pressure on the women to contribute to the household
expenses as compared to the men and thus, they believe in finding a job
which is comfortable in terms of travelling time, distance, relaxed and
comfortable job roles and responsibilities. This kind of women contributes to
the population where the investment period is shorter or longer in nature
depending upon their choice.

On the other hand, there are women who are career oriented and who would
switch jobs as per the opportunities available. Also, this women population is
risk taking and thus, they do not hesitate to switch jobs without
apprehensions. This population contributes only to the 7.7% of the sample
population Another reason for this may be that the women have to relocate
due to family or personal reasons like marriage where the women have to
relocate from jobs. There can be many other reasons for this. There is
58
another population of 10.3% which works for less than 1 year in an
organization which can be again of multiple reasons like the family pressure
which forces them to switch jobs. Traveling and safety can be another reason
for the same which forces women to switch frequently between jobs. As
criteria for data collection, I have put criteria that any women who are working
for more than 1 year can contribute to the survey. As any women who are not
working for more than 1 year with the bank cannot contribute towards the
survey as she might not be aware about the policies, guidelines, ethics and
the actual data of the banking organization.

Figure 4.2.2: Percentage of customers who are women

In the survey referring to the question no.2, when questioned the Banking
employees and Bank managers about what percentage of the customers in
their banks are working women. To be very specific, we have briefed them
about the kind and nature of study and we had briefed them that we need the
data of the working women who invest in their banking institutions in terms of
opening a savings or current account, or someone who has a debit or credit
card. We also instructed them that we need statistical data about the women
investments in terms of shares market or demat account, fixed deposits,

59
systematic investment plans and other. Also, I had instructed them that by the
definition of working women I mean that the women can be someone who is
working in a private job, government job, multinational company, housewife
who is doing a job or even a women who has her own business holding a
current account.

Among the population 25 respondents i.e., 64.1% of the population has

replied stating that they have around 20-30% of the customers which are
women customers and thus, they contribute a considerable chunk of
investments in their banks. Among the population 13 respondents i.e., 33.3%
of the population has replied stating that they have around 30-40% of the
customers which are women customers and thus, they contribute a sub major
chunk of investments as compared to the men customers. Also when
questioned this percentage of contributions considers the companies who
have investments in the banking institutions. The investments of the
companies can be a current account, a fixed deposit, shares contribution in
the bank, a land mortgaged, business loan, credit card or overdraft facility of
the company. Considering this company data, 30 – 40% of the women
population is a major chunk of contribution for investments in the bank.

If we consider, working women investments of 20 - 30% or 30 - 40% it is a

very big number in terms of the financial contribution towards the banking
institutions. We have seen that generally most of the women who are on jobs
by default have their bank accounts in some or the other bank, which forces
them to have some or the other investments in the banking institutions. Also,
those who are business women who are also considered as working women
have their company accounts or personal accounts in the banking institutions.
Few chunk of the population also has business or personal loans, car loans,
credit cards, gold loans, shares contribution through the demat account, fixed
deposits, systematic investment plans, etc. This kind of investments
contributes majorly to the banking sector as this is the major chunk of income
for the banking institutions.

60
Among the population only 1 respondent i.e., 2.6% of the population has
replied stating that they have around 10-20% of the customers which are
women customers in their bank which is a very less percentage of the sample
population. There can be several reasons for this; one most important reason
for this can be the location of the bank. Banks generally in the rural areas or
non-urban industrial zones where there is less employment in terms of the
women employees; women generally do not have investments in the Banks.
In these regions they are mostly dependant on men population and this,
having an investment is rare. Also, in the rural areas it is seen that most of the
working women who work in farms, agricultural companies or small industries
are mostly uneducated and thus, they do not have any bank accounts or they
do not have bank accounts in any government or private bank. Instead they
prefer to have an account in the scheduled banks or cooperative banks.
Government has taken lot of steps and strategies to have small scale
investments in cash in the rural banks and thus they promote agricultural rural
institutions named as shetkarigraminsanstha, cooperative banks and credit
cooperative societies also known as pathpedhis which hold the investments of
the rural women sector. We have not targeted these banking sectors as my
study region is Mumbai which is mostly the urban areas.

Figure4.2.3: Percentage of accounts that belong to women

61
In the survey referring to the question no.3, when questioned the Banking
employees and Bank managers about what percentage of the fixed deposits
are hold by women population. 6 respondents i.e., 15.8% of the population
have replied stating that they have around 5 - 10% of the customers which are
women customers who hold a fixed deposit. While personal questionnaire
with few working women, it was noticed that the house maids in Mumbai
region, whom I have also considered as working women; generally have an
income which is not considerably high in nature. They normally tend to spend
their income on the household expenses like school fees, electricity and other
expenses. These working women have really scanty money left with them for
their monthly expenses and thus, they are less encouraged to invest money in
the fixed deposits or other banking investments.

27 respondents i.e., 71.1% of the population have replied stating that they
have around 10 - 20% of the customers which are women customers who
hold a fixed deposit. 5 respondents i.e., 13.2% of the population have replied
stating that they have around 20 - 30% of the customers which are women
customers who hold a fixed deposit. This means that the women population in
the banks is considerably less as compared to the men population. This
means that there is less awareness about the financial planning in the women
population. Also, this means that they might have certain investments with
their spouse or family members which can be a land or a k=joint account or
cash investments which might be smaller in nature. As discussed earlier that
the women income is generally contributed as a second income for house
hold expenses and thus, there income might we spent along with the spouse
income for household expenses.

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 Figure 4.2.4: Percentage of women that benefit from Fixed Deposits
In the survey referring to the question no.4, when questioned the Banking
employees and Bank managers about what percentage of the working women
customers are aware and astute about the benefits of fixed deposits and
multiple types of fixed deposits. 7 respondents i.e., 17.9% of the population
have replied stating that they have around 5 - 10% of the customers which are
women are aware about the benefits of the fixed deposits. This is a very less
number in the urban region and thus, there has to be lot of initiatives that the
banking sector as well as the government has to do to educate the women
and make them about the benefits of the investments. There can be other
reason which we can assume that the women invest in some other fields and
areas of the market segment. This can be the further study of my research.

28 respondents i.e., 71.8% of the population have replied stating that they
have around 10 - 20% of the customers which are women are aware about
the benefits of the fixed deposits. 2 respondents i.e., 5.1% of the population
have replied stating that they have around 20 - 30% of the customers which
are women are aware about the benefits of the fixed deposits. Another 2
respondents i.e., 5.1% of the population have replied stating that they have

63
around 40 - 50% of the customers which are women are aware about the
benefits of the fixed deposits. Looking at the figures and statistics, we can
conclude that even if there is approximately 70% of the population has stated
that 10-20% of the women customers are aware of the benefits and the
multiple types of the fixed deposits; still it is considerable very low number in
terms of the global market. Around 2 respondent of the population has stated
that 40-50% of the population are the women customers who are aware about
the benefits of the fixed deposit, this clearly shows that may be they are not
aware of the facts and actual figures or may be the region where their branch
is located might be in such a location where the awareness has percolated
towards the target audiences.

Even, if we take an average of the entire statistics, we can conclude that only
25% of the actual working women are aware about the benefits of the fixed
deposits and the type of fixed deposits, which is a very less number in terms
of literacy of women population. This clearly states the need of educating and
awareness program required to enlighten the working women on the initiatives
and propositions offered to the women by the Banks and government.
Government also has special rates in terms of interest rates for fixed deposits
which is very lucrative for women to have an investment but this programs are
not been marketed rightly.

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 Figure 4.2.5: Percentage of Demat Accounts that belong to women
In the survey referring to the question no.5, when questioned the Banking
employees and Bank managers about what percentage of Demat accounts
are been hold by women. 14 respondents i.e., 35.9% of the population have
replied stating that they have around 0 - 5% of the customers which are
women have a Demat account with the Bank. This is a very low percentage
which holds a Demat account which clearly shows that there is illiteracy in
women customers regarding the trading or Share market. There are many
private institutions who conduct short term courses to train individuals in
Trading and share market. It is been seen that the Share trading market is
predominantly male dominated market in India since decades. This might be
one important reason why women have less Demat accounts in the Banks.

23 respondents i.e., 59% of the population have replied stating that they have
around 5 - 10% of the customers which are women hold a Demat account
with the banks. Only 2 respondents i.e., 5.1% of the population have replied
stating that they have around 10 - 20% of the customers which are women
hold a Demat account in the bank. If we see the statistics, it clearly illustrates
that there is a slit between the government, bank and the customers in terms

65
of the products and services offered. If we see worldwide, the statistics of
women customers is very high who hold Demat account and who trade in the
share market and trading. But, unfortunately, the Indian tradition and culture
has always been a hindrance in terms of promoting women to enter in this
zone of trading. If you refer to my personal interview where I have interviewed
a business women, while discussing with her in my interview, it was clearly
seen that they never got an exposure to the share trading or share markets in
schools, colleges, work cultures. It was even been highlighted by her stating
that she was never been even boosted or encouraged by family to enter in the
share market. Instead, she was been demotivated and discouraged to enter
the share market by her family, friends and colleagues. We strongly need
some driving force to drive our economy and educational system to promote
the investment opportunities. Special care to be taken to familiarize the
women should be taken care by the measuring bodies to promote traditions to
start some new endeavors. Such initiatives if launched at the school level will
boost the investment opportunities in women and men both. This is see s
steep surge in the percentage of working women who will invest in the Indian
economy which will indirectly benefit the Indian government. It is all the
vicious circle which suffers due to lack of education and literacy in Indian
women. My research can further be extended to see what measures to be
assimilated to make sure this steep surge is seen.

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 Figure 4.2.6: Percentage of women that have Trading Accounts
In the survey referring to the question no.6, in continuation with question no 5,
when questioned the Banking employees and Bank managers about the
women customers’ awareness about the benefits and dis-benefits of share
trading the following statistics was seen. 18 respondents i.e., 46.2% of the
population have replied stating that they have around 0- 5% of the customers
which are women are aware about the benefits and dis-benefits of the share
trading. 21 respondents i.e., 53.8% of the population have replied stating that
they have around 5 - 10% of the customers which are women are aware
about the benefits and dis-benefits of Share trading. If we see the statistics, it
is a very low percentage which signifies that working women are not aware
about the pros and cons of the share trading business. It is generally seen
that, normally working women who wish to invest in the share trading invest
by guess work or by following some predictions given by some share traders
and experts given in news. Sometimes, the decision to invest is due to the
influence of the colleague, family, spouse or friends. This kind of investment
leads either to failure or to success by fortune. In either case, over a period of
time, people lose interest in the Share trading as they might lose their hard
earned money. If people are well versed with the knowledge and concepts of

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share trading, they can be wise to take a judicious decision where to invest,
how to invest and how much to invest. Also, the working women should be
well learned to understand that share market is subject to market risk and
thus, they should not invest the entire hard earned income but a part of it to
make a wise decision.

Figure 4.2.7: Percentage of housing loan accounts that belong to women

In the survey referring to the question no.7, in continuation with question no 5,

when questioned the Banking employees and Bank managers, how many
loan accounts are availed by the working women customers, the result was
little dissatisfactory. 5 respondents i.e., 12.8% of the population have replied
stating that they have around 5- 10% of the working women have applied for
housing loan. 31 respondents i.e., 79.5% of the population have replied
stating that they have around 10- 20% of the working women have availed the
housing loan and only 3 respondents i.e., 7.7% of the population have replied
stating that they have around 20- 30% of the working women have availed for
housing loan. Looking at the statistics, t can be seen that very few women opt
for the benefits given by the bank for housing loan. There has been lot of
initiative by the Indian government and Indian Banks to percolate the Housing
Loans in subsidized rate for working women. Normally the housing loan

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interests are less than around 1-2% for women rather than men. This should
in fact increase the percentage of working women buying and investing in
houses but unfortunately this is not the scenario. Looking at the statistics,
there is an average number of working women who avail the benefits of the
subsidized housing loan rates. Due to the current advertisements and
marketing I expect this percentage to go higher in few years.

Figure 4.2.8: Percentage of business loan accounts that belong to

women
In the survey referring to the question no.8, when questioned the Banking
employees and Bank managers, how many business loan accounts are
availed by the women customers, the result was absolutely dissatisfactory. 13
respondents i.e., 34.2% of the population have replied stating that they have
around 0-5% of the working women have applied for business loan. 20
respondents i.e., 52.6% of the population have replied stating that they have
around 5- 10% of the working women have applied for business loan. 5
respondents i.e., 13.2% of the population have replied stating that they have
around 10- 20% of the working women have applied for Business loan. The
statistics shown above is below the expectancy level. This shows that women

69
are still not been pushed in terms of investing in businesses and been
independent. Most of the women are stuck with family responsibilities and
household liabilities and thus, they prefer to work on jobs.

Looking at the global trend, It is seen that many women entrepreneurs are
seen emerging worldwide. Even in India, in the past decade it is been seen
that women entrepreneurship is taking a leap. There are been lot of initiatives
by the government to motivate a boost women to start household business,
big enterprises and other small societies. We can see lot of
GraminRojgaarYogana (Rural Employment Scheme) which encourages
women to start small scale projects or business which helps them to sustain
and earn money for their living. Also, there are lot of funding through banks for
small businesses which are named Make in India, where women are
encouraged to come up with a business idea and then government through
banking institutions fund the group of women to perform business.

Figure 4.2.9: Percentage of women who are insurance policy holders

In the survey referring to the question no.9, when questioned the Banking
employees and Bank managers, as to what is the percentage of women
insuring them for insurance. This will show the pattern of investment in the

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Banking and Insurance stream. 8 respondents i.e., 20.5% of the population
have replied stating that they have around 0-5% of working women invest in
insurance. 30 respondents i.e., 76.9% of the population have replied stating
that they have around 5-10% of the working women invest in insurance. Only
1 respondent i.e., 2.6% of the population has replied stating that they have
around 10- 20%of working women invest in insurance. Looking at the figures
and percentages, it can be clearly seen that, women are skeptical to invest in
insurance and thus, their contribution of income towards insurance is less.
Also, the Indian tradition calls the man of the family as the Karta i.e., holder or
someone who is held responsible for. Thus, the man is generally insured
heavily as compared to the women customers. The other half of the working
women who contributes to the livelihood of the families is the one who invest
in insurance. Also, there is a emotional angle towards this, where due to the
lack of awareness and knowledge about the insurance policies, women are
insured less and the men are comparatively insured more, this brings the
trend down to approx. 10 to 20% of the total contribution I terms of insurance
economy.

Figure 4.2.10: Percentage of women who are aware of SIP

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In the survey referring to the question no.10, when questioned the Banking
employees and Bank managers, about the percentage contribution of the
women customers who contribute to the Systematic Investment Plan’s
portfolio. The portfolio of Systematic Investment plans is the future of the
investment market. People prefer investing in Systematic Investment Plan’s
rather than individually investing in multiple scripts of share market. The only
simple reason is trader like sharekhan, angel broking, motilaloswal who are
experts in the share trading invest in the market in known scripts which are
flourishing and based on their expertise they invest in bulk for multiple
customer bases. Here the risk of failure is less because these guys are the
experts of share market who understand the scripts very well and thus, it is
very for them to trade for multiple customers together rather than we studying
and analyzing the scripts. Also, it is always better to invest in Systematic
Investment plans as the risk of failure is very less as the amount is equally
distributed in multiple segments and sectors as well as multiple scripts in the
market. This make the Systematic plans safer. Also, another good reason why
people have started investing in Systematic Investment plans is, it is a
compulsory investment which forces every individual to invest a small portion
of an income in some investment schemes. But, it is seen than most of the
working women in India are not aware about the products, benefits and how
to proceed in Systematic Investment plans. Banking sector is doing its bets
but the government and education system needs to be revamped to make
people aware of this concepts and endeavors.

Looking at the statistical figures from this survey, we can conclude that there
needs to be a radical step in terms of investment avenues available for
working women so that they are independent to take a wise decision for
investments. I also would like to further study the avenues and portfolios in
investment banking and Systematic Investment plan as a part of further study
of my research.

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 4.3
ANALYSIS OF PERSONAL INTERVIEWS

Introduction
Data Collection using Qualitative technique
In my research I have used both the techniques – Qualitative technique which
gathers data and information from user via mode of interviewing,
brainstorming and other methods. Also, I have referred the quantitative
technique where the data is measured on the scales given. The qualitative
method used the mechanism of collecting data from individuals by asking
them probing questions and then analyzing that response by using some
dashboards or charts and graphs. This technique gives us the qualitative data
and interpretation of data collected but does not infer the exact quantification
of the data as given in the scales. For this, we have to further collect this
qualitative data results and use this sample for quantification. The scales have
to be met by the organizations or providers so that we compare the data
samples based on this scales given.
The personal nature of each respondent was one of the strengths of the
interview. The reason for this strength is that respondents were able to relate
to the questions asked by the interviewer and therefore were more willing to
share personal opinion which helped us yield data quickly in greater quantity.
Few theorists also recommended that we can conduct interviews to
understand opinions, views and behavior of respondents towards few topics.
Considering how the information was gathered is not important at this stage to
detail out interviews where the person interviewed was told to understand,
interpret and then speak about their topic as per their understanding and
knowledge. With the help of this technique I could actually gauge the actual
data and tried to interpret what the person whom I interviewed meant.
I actually a number of interviews more than even three hundred where I
analyzed the data gathered based on their responses and also tried
classifying situation financial planning, education and literacy of housewives
and working women across Mumbai, thus supplementing the quantitative
data. There are two targets groups made in the interview section. The first set
of target group is of women working in the bank and second set is a
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generalized group of women which includes women working in different
industry segments and housewives. The first set of the target group were
asked questions in a structured manner more pertaining to the financial
knowledge which were quite similar to the questionnaire asked to the second
target group.

Based on the responses by each age group, I could actually segregate the
data into buckets based on the similarities. All data that was gathered was
been able to be segregated based on the similarities among them and the
dissimilarities among them. The actual experience at the time of data
collection was splendid. It really supported me to have an understanding of
what the respondent’s think about financial planning. This approach gathered
data which I could even use for my further studies. Also, I can get certain
inferences from this data and analyzing this data.

Below are some personal interview experience that researcher has conducted
in person to make the research work more evident of how women have been
challenged by society norms and still are being able to surpass this barrier
with the help and support by husbands, families, friends, financial advisors,
financial planners and others
Ms. Sweta Menta, aged 28, has been working over the last 11 years in a
private firm and has been investing in shares, mutual funds and has been
actively saving for the well-being of the family. She has knowledge about
mortgage, shares, insurance, currents and savings account, etc and has been
investing in the mutual funds for the last three years. Initially not having any
knowledge about equity markets and how it really works, she put in a lot of
time to understand and gain appropriate information on how to invest and get
the right profits in mutual funds. She consulted her spouse, family members
and her friends who were already investing in mutual funds to know how
profits would be gained with no loss of valuable money and time. She
mentioned in the interview that her spouse and her investment advisor stood
by her decision in investing in mutual funds and has majorly contributed to
giving her the appropriate guidance in understanding about investments and
equity markets.

74
At the very beginning her family was against the decision of finance that she
made in the trading as she did not consult others in the family and information
in equity markets and their bad experience, but her spouse supported her in
decision making. The person whom she consulted was a financial expert who
instructed her and recommended few scripts where she could invest her
money in mutual funds also guided her appropriately in the right investments.
Furthermore because of this support she was able to gain the understanding
and knowledge about mutual funds and now she herself has been an
investment advisor. Her spouse is happy about the choices of schemes that
she currently does now and also from the returns that they have been getting.
Her spouse does not interfere now in her decisions about investing as he has
gained confidence in her that she has good financial knowledge and planning.
She has been now investing in mutual funds a sum of around 2.5 lakhs every
year with good returns on the same. This shows that support from spouse and
family and people with good knowledge in mutual funds or equity markets
help women to gain the understanding and knowledge and also trust them in
decision making, women also can do good financial decision making.
Sweta also was one among the women who were content to leaving the
decisions on her spouse, father and brother in terms of investments which
seems to be a part of the patriarchal society of India. But getting the right
support and knowledge from her spouse they together have broken this
barrier of the society norm and been able to make her own financial decisions
today. This factor comes into picture as there are many women who have
entered the workforce in shoulder to the men and somehow mindset of people
around have been changing although not rapidly but gradually. This also has
lead to making women responsible to earn for her family and dependents and
also taking care of her family and allowing them to take charge of their own
money and decision making.

Mrs. Suresh, aged 54 is a government employee and has a total work

experience of more than 20 years. Government employees have great
amount of facilities provided for the empowerment of women yet they lack
knowledge of financial planning and investments. Mrs. Suresh also faced
these issues. Traditionally women have been seen investing in gold, fixed
75
deposits, property, recurring deposits and insurance policies than investing in
equities and mutual funds. She too did the same and thought investing her
money in real estate or property or gold or insurance policy was much wiser
than investing money in mutual funds. As she did not have appropriate
information and understanding on investments she hesitated to put her hard
earned money in mutual fund investments due to lack of faith. This was
because people around her who had invested money in mutual fund
investments were cheated and looted by financial advisors and hence she
thought it isn’t a good idea to invest.
In the year 2010 she met a financial planner while she was working as an
insurance policy agent and understood the benefits she could gain out of
equity shares and markets. The financial planner told her how investing
money with the help of good schemes could provide her good return with the
help of mutual fund investments. Still she took time and consulted her
husband and other family members on how to go about with this whole
investment scheme told by the financial planner. As a matter of fact she
started with a sum amount of 50000 rupees and waited to see a considerable
amount of time to understand the benefits of the returns. As women in India
come through a conservative family background, financial planning and
decision making takes a whole lot of faith to be invested by women who are
exploring equity markets and mutual funds. They still remain to be in minority
when making such decision related to mutual fund investments and still
depend on their husbands and family to take decisions.
Mrs. Surekha was one such women who due to lack of faith which came from
ill experiences and also from a conservative family background held her up
from taking a step forward. But now that she is confident enough to make her
decision with the help and guidance of the financial planner she is less
hesitant to investing. Today she invests over 6 lakhs every year and without
the help of any consultation from anyone, she sees the benefits and returns
as explained to her by the financial planner. This experience has helped her
gain faith that mutual fund investments are not risky and with proper
consultation and planning the desired results can be obtained. This not only
helped her save a lot of money but she was able to use it for the better future
of her children and family.
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My conclusion females have fewer rights and flexibilities while taking any
financial decisions or even planning for it, as it takes longer period of time and
hard work to earn but no time to lose. Hence if given proper financial
education and guidance to women, they can make better use of the money in
the well-being of the family and upbringing of the children.

Ms. Deepa aged 35; a business woman started her entrepreneurial venture of
a training organization in the year 2013. She earlier has worked in an IT
organization and has a total work experience of 15 years. She being an
independent woman taking care of her role as a wife, mother, daughter in law
and also as a business woman has been very successful in decision making
in business related issues. She is more goal-oriented in her nature and does
not believe in running after products that aren’t useful to her unlike men who
are more product focused for returns and always seeking new products to be
used. She started investing in mutual funds few years back while she was
working in an organization but due to lack of knowledge did not successfully
get the returns she was looking for. Hence de-motivated she discontinued to
invest.
The challenge here for her was to find a right financial advisor who would help
her in investment decision making and make her more confident in
persuading this decision. But not for long that she had to wait. Her business
partner who is a very good friend and colleague advised her to investing back
into mutual funds. In her interview she did mention about him being the key
factor that persuaded her to invest in equity shares and mutual funds. His apt
understanding and good knowledge about the investment products and
market helped her also understand the benefits that she would gain as
returns. She explained these benefits to her family members and her husband
who initially were not so happy about the decision. Yet being an independent
business woman she went ahead and took the risk based on the experience
and knowledge of her partner and was able to get profitable returns. This lead
her husband to first build confidence on her financial decision making and
also supported her to make further investments. The returns received were
invested by her in improving her business and also the well-being and growth

77
of the family. She is aware of the expenses both in terms of her family and
business and makes sure she strikes a good balance between both.
My conclusion over here is that even though women are independent and
have all the skills required to venture into a business but still do not have
adequate knowledge on how to pursue themselves for right channel of
investments. Though women are well educated and know how to balance
work and family yet they lack skills and faith in financial planning and
investments. My respondent in this case was awaiting a right advisor to show
her the path and channel in investments and financial gains.

Ms. Lata, aged 40; is a household maid and works to earn her living by
cooking food, managing the household chores at different places. Her state
was not this until the death of her husband. Lata, who is not educated and can
hardly read or write was fully dependent on her husband’s earning. She and
her 12 year son were not aware of the situation that they would have to face
in future and hence was happy the way she was living. In her interview she
stated that they both faced a tough time when her husband met with an
accident and she had no idea about the savings that her husband had
accumulated. The only savings she had was in cash which was not enough
for both to sustain for long. The more days passed by situation became
difficult and not being educated enough the savings in the bank and policies
made by her husband could not be accessible for them. The bank accounts of
her husband were not known to her, provident fund money was not given by
the company where her husband used to work. All this lead to her taking up a
job as a household aid at different houses. Whatever she would earn had to
be spent on the education of her son and hardly could save up for anything.
This made her frustrated and sad to go about vulnerable to her situation to be
mistreated and oppressed by family members and people around. Many at
times she was exploited by her own family members with the savings she
had. During all this she came across an NGO who came to their locality who
were helping in uplifting ladies and girls in that area. She was approached by
one of the social worker associated with the NGO and asked her to be a
member of their association. The worker completely understood her family
situation and that she was not educated enough to read or write. They
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motivated her to join the evening classes conducted by them where they were
taught to read and write. They even helped her open bank accounts and
informed her about different schemes and policies that government had
deployed to empowering women. It took her time to understand what financial
planning and education was.
She today holds a savings bank account, has made an insurance policy for
better future of her son. She does not want to go through whatever she went.
She is now able to read and write basic languages like Hindi and English. She
now visits the bank and knows how to draw money using a cheque. She also
helps the NGO during her free time in motivating other poor and uneducated
ladies and girls and explains why being literate is necessary. She is satisfied
with what she does and plans to actively participate more in developing plans
with the NGO in approaching other nearby villages and towns.
My conclusions for the above case are that women have to be literate enough
to at least have basic reading and writing skills. With the help of different
NGO’s and such association we must reach out to more rural areas in
educating them and also providing them knowledge of different schemes and
policies developed by the government agencies in uplifting the ladies and
girls. More and more women have to actively participate just like Lata who
wanted to avoid oppression and exploitation by her family members.
I would like to provide an overall conclusion with the help of these interviews.
The points are stated below:

• Education should be provided to poor and unprivileged women

• Even if women are educated there should be more financial education
given at school and college levels
• Business woman and other working women should take more
opportunities in educating themselves on finance and investments.
• Government employees must make good use of the policies and schemes
developed and educate their family members too.

Particularly in India women have to be made aware of the different financial

planning options and the kind of traditional products already in the markets. If
we have to encourage the female population to invest and do budgeting we

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have to build trust in the financial products with the help of family members
and good financial advisors and planners. In this manner women will be able
to educated and trust mutual fund investments on a long term basis and
create good amount of wealth. If ladies and girls are made fully aware of this
fact and benefits may be they would be more inclined to make a switch to
creating and building financial assets. It is definitely going to reduce the price
rise in coming decades and also encourage daughters and other women in
the family to start managing their own finances without the help of other family
members.
Experts who have been studying and motivating women empowerment also
believe that women who are investing for the first time should take up an
approach for asset distribution. To begin with we need to build a long term
investment amount with the help of systematic investment plan which is
considered to be one of the best tools so far. A systematic investment plan
helps you in building wealth with investing a fixed sum every month or quarter.
This is a type of mutual fund scheme helping you earn money over years
while staying invested.
Cutting in short and brief why SIP is better

• Closely controlled method for savings and investments

• Not to be too involved in the market and gain benefits in no time.
• Controlling of few strategies where to invest:
Gaining profits from the changes in the market trends
Investing in pennies and then gathering together to make an ocean of
investment
• Looking for affordable options where we can invest
• Collect profit at early stages.

While many surveys conducted, we have seen that many working women are
still hesitant in investment plans but plans such as SIP make them take their
own financial decisions. This makes them not only confident but also gives
them some self-esteem while being single or married. With time changing,
being independent for financial decision makes women to stay away from
exploitation and oppression. There also have been seen cases where divorce

80
rates have been increasing making women totally vulnerable to succumb to
situations and depend on family for every small decision. If ladies and girls are
well educated from the very beginning, that is at school or college level it will
give them confidence to handle their decisions and life better. Since we have
seen higher divorce rates in the past few decades women cannot depend on
their husbands or for that matter even family to spend or save their money. In
many scenarios, it is seen that females are generally the beneficiaries of their
husbands, thus they should be well educated and literate to understand what
they will do once they receive the claim money. Females should be trained in
advance as to what to do with the funds once they will get them. If this fund is
not handled carefully, dependents on that claim will have to suffer money
crises in future.

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 CHAPTER 5
CASE STUDY

This is a hypothetical case study scenario which we would be using to depict

situations which would help us understand the women’s financial literacy and
planning aspect. The purpose of this case study is to highlight the gender
discrimination which hinders women from being independent to take decision
on financial matters.

Trinity Institute is a fictitious body which is been taken into consideration

where we have considered which works for the benefits of financial
investments of the females who work at house hold and supports the family
for their success. This institute’s objectives and tasks are aligned to address
the issues that are faced in the male dominated society and allowing the
females to have an unbiased decision in investments.

Around world there is a vital and increased attention by the Governments’ to

empower buyers and purchasers through monetary learning and awareness.
Banking sector and government should play a substantial role in the economy
to boost the investment from the female sector by educating them on how and
when to invest and in what sectors to invest. This education will promote
unbiased platforms for all genders in terms of investment.

Trinity Institute is an organization which is tied up with many states across

India. It is an association done between two governments who work with
financial management academies. It was established to maintain financial
growth and trade within the states of India. It started their teaching on finance
and economics as a task to look after governments emerging program and
application on values and creating arrangement dissection proposals on
standards and sensible workings for financial training. Furthermore
mindfulness with a limelight around specific parts similar to credit, protection
operator and also individual pension.

1
Trinity Institute helps trust reserve for fiscal education and those working for
improvement and progress of women. Furthermore spreads three primary
sorts of strategic objectives.
• Wide point by point reviews and lists for monetary training exercises and
strategies, appreciated for enrollment and contribution towards the financial
equalities among all genders.
• Policy, reports and examination emphasizing knowledge produced so that
there is proper communication among all levels of investors and government
sectors.
• Making historical data available for the policy makers and the banking
systems so that they can modulate right force and laws in the investment
sectors.

This research addresses the money related instruction necessities of ladies

as well as girls toward gathering verification from claiming gender orientation
contrasts on fiscal ability and toward examining those components related for
such gender contrasts. It also analyses approach reactions and activities will
tackle ladies and also girl’s needs. Also draws suggestions starting with
existing activities.

In light of this examination, Trinity Institute created strategy for direction on

tending to ladies and girls’ requirements to money related consciousness as
well as training to money related education and instruction. Trinity Institute
’finance management training task was started on location part governments’
developing anxieties on the unfriendly impacts of low monetary ability levels.
Government also showed its eagerness to extend an under particular target
assemblies of ladies. They made sure that ladies would often present in very
large number in distraught assemblies in the group and bring lesser levels of
retirement funds over men; this may be applicable on worth of effort with
respect to fiscal education analysis, the part of monetary training to monetary
inclusion, and around savings, speculations and also retirement funds. Based
on this analysis, it has developed policies and guidelines as to what females
need in terms of taking any financial step in their career.

2
Classifying ladies with monetary training needs is a vital zone from claiming
extra investigation, and master subcategory on fiscal instruction. Also ladies
might have been made on to address this issue previously. Until date, there
remains minimal mostly acknowledged agreement on the meaning as well as
applied demonstrating for monetary ability. In order that there is always
informed decision or different research, we utilize the haul “monetary
education” in line for the emulating Trinity Institute’s meaning.

Unexpectedly, same time they require monetary education which might have
a chance to generally acknowledge the vitality of a gender differences. Same
time recognizing that there has to be policies in favor of the females so that
there is a good appropriation.

Firstly, where differences in gender in monetary education appear and thus

there has to be decisive step to address this problem. At the same time, it is
important to cease from forecast than actual results where we presume that
the female population has less knowledge as compared to the male
population.

A lot of ladies are revealed to be comparatively less financially skilled than

men along numerous proportions. These kinds of gaps symbolize elementary
issues for public justice, with several significant ensuring implications.

There may be unrealized prospective for gains in cost-effective competence

amid that only one fourth of the total population of businesses are been
contributed by the females. These females have less support and thus, they
do not sustain in the business for a longer period.

Lack of knowledge and understanding in financing and investments in

monetary authority inside of the family. Studies done in many countries
recommend that conjugal does not act as a sole decision maker unit. As an
alternative, family possessions in the hands of ladies has been seen to be
more liable to be used up on improving well-being of the family, mainly that of
children.
3
In circumstances, where ladies are mainly accountable for taking care of the
children who do not have any support of the family or have deceased spouse
suffer a lot in terms of taking any financial decision and get a stability which
may affect several generations’, thus affecting the early education, behaviors
and attitudes of the generations in the future. Such types of differences are
possibly combined to identify the actual investments been done by the
females from their savings.

Whenever the financial decisions are to be taken or the financial laws or are
to be constructed they always consider both the genders in matter for makers
of the policy and also a vital human right. Undeniably, empowering women
has been likely to be taken as a requirement for a long-lasting growth, pro-
poor increase and the accomplishment.

Secondly, female population always needs guidance in terms of where to

invest which is a joint responsibility of their family and government. Market for
females generally works for less time. There can be multiple reasons for this
like pregnancy or change in location after marriage. Sometimes, family
pressure o responsibility can be one major reason for leaving the job. Many
countries it is been notices that the wages that the male employees receive is
higher than female employees, or almost same, setting a point for lesser
accumulation of savings. While, statistics show women in a spot of financial
need. They are the main caretakers for kids in many occurrences; ladies are
probably single parents. The monetary results of separation in legal bonding
or marriage are more implied on the females. They are most affected by the
separation from their spouse and because they lack support from their
families even after the separation. Law has protected their rights but half of
the women population is not aware of their rights.

After separation, females have partial rights on the land, flats, properties and
even the financial assets that the husband possesses. She can legally ask for
the half proportion of the land or property as she has helped him mentally and
by supporting the family which has led the spouse to earn and maintain
4
wealth. Females can approach police or any legal authority for help in terms
of their rights. There are special courts which take care of the women issues
and concerns that they have to address while this phase of separation.
Females get their share of properties from these courts. Females can also
approach the courts asking for alumni from their spouse. This amount has to
be substantial in nature and the spouse has to ascertain the female that he
will pay the amount on equal installments on regular intervals. This amount is
been calculated based on the financial status of the spouse and their portfolio
of investments. Also, if the female has children she can also opt for additional
amount for the welfare, education and other factors of the children. Females
have to approach the corresponding legal sources and thus, they can claim
their rights of individual.

Other than the family and spouse, there are several other factors that might
affect the women independence in financial literacy. Few of them can be the
environment in which they are born and brought up. The society and their
beliefs are a catalyst for all the decisions that female take. Assuming, a state
where there is modernization and globalization, females have equal
educational opportunities. They are brought up the way males are well been.
The style and behavior of the society is unbiased towards all genders and
thus, females have equal rights in this scenario to take financial decision.
Also, females can work equally to males and can earn a substantial amount of
money as male population. Females are also given options of saving and
expensing their money. They are been exposed to the financial amenities and
options that are available for investments and thus, a females in this scenario
will have open mind and way of investing their assets and money in the
market. These females are extrovert and are capable in taking investment
decisions.
On the other hand, females that are born in the state where females are kept
aloof of education and assigned more tasks and responsibilities of house hold
work. Here females will have less option in terms of education and gathering
knowledge. Also, they will have less exposure to urbanization and thus,
cannot even imagine the investment opportunities that are missing out on.
They cannot foresee the loss in terms of money as well as in personal life.
5
Females here may be proficient in saving some money from their earning but
again they are been financially exploited by their parents, family members or
their spouse where they are forced to withdraw their investments. Security of
investments is a major concern at these states. Thus, any decision taken by
this female will be definitely less effective as compared to that of the female in
cities.
Does Gender matter while taking financial decisions?
Answer to this question is yes in the rural areas because the female
population is not exposed to the world. She does not understand the
implications of not saving her money. She is not exposed to the options that
government or banks offer to females.
Answer to this question will be No, if the female is from cities. This female is
exposed to all options and is literate enough and confident to take own
decisions. She is well versed with financial aspects and policies and thus she
is less dependent on males.

Can parents play an important role in financial literacy of females? And

will this help them to invest?
Parents play an important role in children’s life and thus, they should train the
females to take their own decisions right from the birth. They should not be
made dependent on males – brothers, father, uncles or any other family
members. If females are taught to be confident and honest from birth they can
prosper well. It is the nature and personality of the women which can be built
and shaped at the early age.
This attitude of taking decision by self and not been dependent on others will
help them to mold their decision patterns and thus will be more independent.
They can take a wise decision for themselves and can make sure they get
benefited first than the family members. The welfare of self is most important
so that they can then take care of their families. Self-development gives them
a vision and direction for the growth and prosperity of their family and
dependents. It is rightly stated that a qualified female can generate more
qualified, honored dependents in the family. If the female is not qualified, she
cannot have a vision where she can literate the children and make sure they

6
do well. A well-qualified female will make sure she plans for kid’s welfare not
just for the primary education but also the higher education.
Planning for higher education has to be thoughtful, who else can understand
what their kids wish other than a mother. Thus, a confident and direction
female will always have a bright vision for her children. She can encompass
the basic as well as advanced needs of the children. This could involve the
marriage and post marriage planning of the children.

Can male population help train and educate the female population while
taking financial decisions?
Definitely yes, it is said that after every male doer who is successful in his
aspiration and career, there is always a female who will back him for his
roadmap. Similarly, for every independent and confident female doer there
can be a male who can support her for educating and motivating her for taking
wise decisions.
Today in urban cities, it is seen that majority of the population actually equally
divide to the house hold expenses and thus, equal responsibility is been given
on the shoulders of females to run the house expenses and responsibilities.
Similarly, their spouse can help them to run the house hold and also assist
them to do the house hold tasks. This liberates the female and thus, it helps
the male indirectly from financial pressures. Also, it is seen that male consult
the females in this region as they are more aware and astute in terms of
savings and budgeting. Right from selecting the right house to which script to
invest in trading, females are consulted. This helps the females to be
independent in case of emergencies where they are competent enough to
divide the funding across multiple portfolios.

Trinity Institute Survey

While, the survey of Trinity financial institute, every individual employee has
contributed to this survey positively as their aim is to educate the female
population in financial decisions. This survey has demonstrated that females
today are in multiple fields like engineering or even in sales. Most of the
banking institution are been dominated with female population who actually
monitor and manage the countries budget and expenses. Still, it is seen that
7
at home they are made and forced to be dependent for every small financial
decision. This institute is focused and aimed to educate the females while
their routine responsibilities by advertising and publicizing some fliers or
emails which helps them to educate themselves.

Are there any sub categories or groups in females which can be

considered while financial decision patterns?
It is seen that data is available in our country for the male and female
population but have a sectored data in subcategories is not possible. This
data is just in books or theories and nothing in practical. These sub categories
of women are classified in many books but data is very difficult to populate. I
have tried to sub categorize the female’s types below:

Old aged Females

This population among females is most dangerous as even though they were
independent at their young age but they are not able to maintain this
independence at the older age. There is a threat for the old aged females by
their children as they are now grown up and they can force them to take some
wrong step for money of personal benefits. Few females who have no children
and spouse can fall prey to their families and relatives who can for benefit try
to harm or endanger the female for money. Mostly as they know that this is
the age where females can be threatened and bent to their knees as they
have no physical strength to oppose the injustice done to them.

Early aged Females

In our country, it is seen that the early ripe age of the females is been
monitored and controlled by their parents. Their parents will decide what the
daughter has to do and where she will spend their money. In one sense it is
good as she might not have wise mind at the early age where to spend the
money. On the other hand, the girl who has lost her parents or guardians, and
are been surrounded by their near families are been financially and physically
exploited for money and personal gains. Early age education in terms of
independence and how to raise voice against injustice should be given to

8
every female. They should be trained to raise their concerns to someone
senior in family or if not should raise their concerns to legal authorities.

Females surrounded by family

There were many educations conducted pertaining to monetary education
among ladies and girls which provided connection between the condition of
the family and the economic development. It also was important for ladies and
girls to understand that monetary education and the required skills to find a
way out on how the effect of household conditions (such as separation from
the partner could lead to less income at home, problems related to
accommodation and also being a single parent) could have on the financial
conditions. In addition there is also important proof that there are enough
documents stating that marriage, giving birth to kids, and separation from
partner or untimely death of the partner. With the help of the information
provided from competent authority there were findings made that investments
and liability are directly related to many changeovers in life and also it takes
time for them to get out as compared to males.

Ladies also get affected by the liabilities that are passed on from their
partners or husbands who have stood as supporter while purchasing of loans
and these overheads of repaying of loans therefore remains even after parting
from their husband. These events of separation or split up from husband are
more likely to affect the older ladies welfare with regards to financial
development which in turn results in poor living conditions. These conditions
were also found analogous to the surveys made in the foreign countries
where divorces are very common. This indicates that both men and women
are affected by lower wealth and this problem largely affects ladies. The way
the society has been changing also changes the family conditions which in
turn may lead to poor living conditions of particular fraction of ladies and girls.

Conditions of Business Women in Nations with High and Low Revenue

Whenever surveys are conducted at national level, important factors such as
women working as freelancers or as business women are not considered. But
these factors are less evaluated which needs to considered for the financial
9
growth in domestic welfare. At different occasions it is also observed that
there is no proper description of domestic expenses and ability of run a
company especially when it is smaller in size

Business woman in this area should have adequate knowledge regarding

monetary investments made, particularly in societies in which ladies are not
allowed to move outside of their household and work. This leaves them with
an option to work for smaller businesses which restrict them to work from
home. Numerous institutes and associations have been taking initiatives such
as helping women by providing them money through utilizing their own skills
and abilities. This leads to money entitlement and also boosts their morale to
set up and handle smaller or medium level businesses. Moreover there are
very few ladies and girls who get involved in the business as compared to
men due to reasons listed above.

Monetary education plays a very important role in the success or failure of

business people who are managing smaller businesses. A lot of examination
is done in the same field where a lot of external procedures and actions are
taken to understand the business skills and abilities in sexual categories
variations. This also largely indicates the differences in genders that are seen
in business world. And this clearly makes the fact evident of gender bias
society that we have been living in.

In monetary education the fact remains that awareness and understanding

alone however may not be sufficient especially in developing nations. Hence
there was a fundamental investigation of business people accepting little
concedes in foreign country was done that finds more prominent venture
returns among men as contrasted with ladies along with the control in the
industry. While they have not found enough proof that the gaps in
accomplishments was clarified by level of knowledge in monetary information.
In spite of these fact ladies still neglected to put resources into their
undertakings or did not produce extra benefits when making ventures, which
resulted in disappointments in some other part of education. Key attitudinal
elements that are a piece of monetary education, for example, inspiration and
10
certainty may likewise be critical, particularly where institutional and social
boundaries are high, paying little attention to a nation's level of advancement.

Study on Migrants, Locals and Other Inferior groups of Residents

There was a study performed on smaller groups of residents in various
nations especially among the ladies who were categorized as locals, migrants
and women taking shelter as refugees. It showed that these ladies need to
break the hindrances that were present in the society and also learn how to
use and direct the monetary methods provided through different institutions
apart from being monetarily literate. Verbal communication was one of the
hindrances which stopped them from involving in fiscal matters. For example,
if a man or a woman whose language is not the native language of that
region, will stop them from being accepted completely by the people of that
region hence preventing their involvement and contribution in the economic
growth.

Discrimination in Genders in Monetary Education: Determining and

dealing with ladies and young females requirements with the help of
monetary education.
This particular study is based on determining the gaps in sexual category
variances and the impediment faced by ladies and young females in terms of
monetary entitlement and also showcases the ways to deal with the monetary
education and needs by them. Across different nations the study has shown
that ladies and young females have shown lesser awareness in monetary
understanding, self-assurance and capabilities. Although ladies and young
females have reflected improved behavior in terms of interim administration
activities, they were affected by a number of characteristics of monetary
activities. Discrimination in genders in monetary education was linked to
disparity between social and economic circumstances amongst males and
females.

While taking into consideration on the problems, many different nations with
distinctive revenues have identified and agreed to call for the need of
monetary education. This in turn helped them create and execute guidelines
11
and curriculum in terms of financial awareness and understanding among
women which also includes their country’s approach in making people
monetarily literate.

The examination of guidelines and curriculum developed and their

assessment also displays a number of impediments as well as
implementation and also showcases the parts that would require the need for
further study. With the help of the proof developed and the knowledge
represented in the problem statement, regulation of these guidelines has been
detailed and structured to understand the need for monetary education for the
group of ladies and girls from various backgrounds and to maintain the
implementation of committed guideline schemes.

To successfully contribute in the fiscal actions both males and females

together require being monetarily educated and also to make the right
decisions for the household and for them as individuals. On the other hand,
ladies and girls would require developing their monetary knowledge as
compared to men since they have higher liveliness and make lesser money
than men. As a result of which they have a high probability of facing tough
times during their old age. Furthermore, the financial knowledge that ladies
have as compared to men is always lesser than them signifying that they will
not be able to confront the monetary welfare. The requirement to deal with
monetary knowledge amongst women and men will be a way out to enhance
the monetary entitlement around the world. Monetary education could be one
of the significant instruments in the path of ladies fiscal entitlement and
monetary freedom but may not be the only reason.

. Trinity Institute had launched a program for Sexual Variances to understand

the current hindrances in terms of schooling, jobs and business investments
by women with the vision to enhance guidelines and curriculum to develop
non-discrimination in sexes in the fiscal sector. The statement of problem
deals into Sexual Variances in terms of monetary education and the way it is
going to help the women boost their knowledge. Ladies' require having
equivalent way in to and controlling over monetary and money related assets
12
which are basic for the accomplishment of Sexual Variance balance and
entitlement of ladies and for unbiased and logical monetary expansion and
progression. Sexual Variance corresponds in the giving out of monetary and
money related assets which impacts the scope of crucial growth targets,
diminishing poverty and the well-being of children.

Progression
The Trinity Institute process involved for developing a specialized group that
would help identify the ladies who are always symbolized more into the
deprived category among nations that have emerged and are emerging. This
information will aid us identify the necessity for further research on monetary
education.

For the purpose of gathering more data about Sexual Variances in monetary
proficiency and reactions on guidelines at the national level, a sub-group was
created in the specialized group and given directions on two overviews, for
the mid of 21st century, which recognized a few contextual analyses on money
related instruction programs for ladies and young girls. Besides, the Trinity
Institute prepared a Working Paper which provided an elementary survey of
the writing on Sexual Variances in monetary proficiency and of approach
reactions. Based on this work, the Subgroup completed extra research to
gather additional proof and contextual investigations. This paper is intended to
help intrigued nations in the improvement and usage of money related
coaching programs focused to ladies and young girls to help them remove the
gaps in Sexual Variances.

Possibilities that can be derived to improve Monetary Education

With the help of the 2 activities carried out and in addition on extra proof
frame scholarly and approach looked into, the following observation were
made:
•confirmation were made on Sexual Variances in money related education,
with the help of Trinity Institute monetary proficiency estimation report and

13
also on other scholastic research and proofs gathered at national levels to
further prescribe a few zones where more research can be carried out.
•Gives more proof on current factors identified with Sexual Variances in
monetary education and on the hindrances that ladies may come across in
enhancing their money related education
• Distinguishes and analyzes contextual investigations indicating how nations
have taken part with regards to money related coaching so as to deal with
ladies' requirements in problems with managing money, and shows the
outcomes of accessible program assessments
• Classify important knowledge learnt from the difficulties and improvements
featured by the approach activities, assessments and estimations. With the
help of the proofs and understanding produced in the statement, the Trinity
Institute gave further details about guidelines and procedures on Dealing with
Ladies and Young Girls Requirements on Fiscal Understanding and Literacy.
In turn this would help recognize the requirements for money related coaching
of ladies and young girls with various backgrounds, and to help with the
development of an approach which is dedicated and reliable with the national
needs for monetary education and Sexual Variances.

Monetary Education and Sexual Variances

This segment provides us data with the fundamental results on Sexual
Variances in terms of monetary education, indicating from different sources,
including proofs gathered from national monetary education and global study.
Also, the main agenda of the Trinity Institute is to provide an overview on
money related proficiency estimation to give pertinent bits of knowledge on
the distinctive monetary information, approaches, and conduct of ladies and
men.

Understanding of monetary values is lower among Ladies

In many nations, ladies have lesser monetary knowledge and information as
compared to men. This is a resilient proof, as it is seen across a lot of nations
which are emerging or have emerged and in all global provinces in the fiscal
sectors with the help of different research instruments. There exists only few

14
evidences that where Sexual Variances are not very important and also there
in no single nation where ladies were found to be less educated than men in
monetary or money related matters.

Sexual Variances in monetary knowledge during adolescence

Sexual Variances in money knowledge may occur due to some degree of sex
disparities in different spheres. If such is the cause, it is more probable that
Sexual Variances in money related learning is lesser among more youthful
ages or adolescents, unless they have been in the surrounding of their elders
in the family who have adequate monetary understanding. Though it seems
very small but it is an important factor in terms of social and geographic
representation.

Sexual Variances in some degree may be identified with the diverse

prospects and exposure that ladies and men have in terms of monetary
issues throughout their existence, and hence may appear in terms of
geographic, communal and monetary aspects. Indeed, experimental proof
demonstrates that Sexual Variances in money related information are
connected with dissimilarity in monetary states of both men and ladies, and
there is no proof that can be just made clear with the help of these social and
geographical statistics.

Uneducated and underprivileged ladies have less monetary

understanding
By just taking a look at the distinctions in monetary information amongst
ladies and men, it is likewise very intriguing to concentrate only on ladies just
by researching which categories among ladies show the most reduced money
related understanding. This is important as it can assist the makers of the
monetary guidelines and curriculum to classify these categories of ladies who
might require the necessity for enhancing their money related proficiency.

The outcome of the Trinity Institute summary demonstrates that there are
noticeable dissimilarity crosswise amongst the ladies as per their learning,
their job position and their family earnings, whereas there is no distinction in
15
terms of their nuptial position or maturity. As per the results in many nations
proof of lesser monetary learning among ladies is indicated if they are married
away. Ladies who are in conjugal positions are almost the same as single,
living together and separated ladies. This proposes that ladies who are in
nuptial position or have a partner are not gaining knowledge from their
husbands or spouses and ladies who are not married are really not learning
while doing even though there is a lot of dissimilarity among the status of
ladies.
Diverse money related state of mind
A lot of proof from educational and guidelines have featured distinctive states
of mind and inclinations among men and ladies in connection to monetary
issues. Despite the fact that this proof is constrained to fewer nations or
particular congregation of age, it provides more distinctive information and
methodologies that ladies and men take into consideration with money related
issues. It also provides very little information about potential procedures to
deal with ladies' frangibility in the monetary sphere.

With the help of the accessible proof, it seems that ladies are less sure than
men in their money related learning and capacity when it comes to intricate
monetary issues; ladies are less careless than men in monetary issues; ladies
are less intrigued than men in money related issues; and ladies are more
prone to threat than men in monetary savings.

Ladies already know they are deficient of monetary understanding

Several research investigations indicate the dissimilarity in sex when it come
to monetary information along with results in Sexual Variances done by the
interviewee’s individually surveyed monetary learning. This proposes that
ladies are aware of their absence of monetary understanding. Additionally
ladies gave themselves very little score as compared to men while surveying
their own money related understanding and how deficient they are in terms of
knowledge.

Ladies possess less belief than men in monetary understanding

16
The data and information gathered from various sources recommend that
ladies are less sure than men about their monetary understanding. This proof
shows a view that ladies are more probable than men to reply that they do not
have adequate information to monetary questions. The Trinity Institute
provides an analysis that demonstrates the fact that in many nations ladies
are essentially more probable than men to state they don't have a clue about
money related question as opposed to providing appropriate reply to it.

Moreover, ladies have a tendency to have less certainty then men additionally
with their capacity in money related issues. An investigation drive was carried
out which featured that ladies are most of the times sure about their capacity
with cash, particularly with regards to regular household expense
administration issues like planning, saving, managing monetary status and
management of liability. Yet, they are less certain with regards to more
intricate issues like putting in money in the right direction, understanding
monetary terminology and making sure there is sufficient money after they
retire from work. They seem to be less knowledgeable in these areas also.

On a whole, the proof based on surveyed information by individuals and self-

belief gives intriguing bits of knowledge. Ladies' with low levels of monetary
confidence as compared to men is in line with the low levels of monetary
understanding. On the other hand if ladies can identify their level of restricted
awareness and understanding of monetary information, they ought to be more
cautious in their money related conduct. In any case, this mix of lower levels
of information and an absence of certainty likewise implies that ladies are
more averse and less expected to manage monetary issues, administrations
and their suppliers. They also may not really get a handle on prospective
open doors for venture or for money creation.

Men tend to be presumptuous with monetary capabilities

Apart from being more certain than ladies in their money related capacity
there is proof that men have a tendency to be additionally more presumptuous
than ladies, in monetary understanding and broadly as well. Men try to invest
more time and cash on safety measures, make less dependency on their
17
monetary agents, do more deals, suppose that profits will be extremely
conventional, and expect more conceivable returns than ladies. In a later
investigation they found that men are more presumptuous than ladies and do
business much more than ladies. Reports were made stating that men do
45% more business than ladies, and hence they lessen their net returns in
comparison with ladies.

Even though many individuals perceive that they have the self-belief to take
monetary dealings, presumptuousness in one's own insight or capacity
concerning cash matters can create inaccuracy. Specifically, presumptuous
nature may effect on how much individuals look for money related data and
guidance, and also on their inclination to request coaching related to money.

Sexual Variances affects importance in monetary affairs

The absence of importance of monetary understanding creates lower learning
and self-belief, to certain degree. When ladies are less intrigued as compared
to men it is characteristic that they might be less encouraged to understand
money related issues. In many cases, it is visible that ladies demonstrated low
importance for money matters and hence they believe they have very less
understanding to take part in monetary matters.

As compared to younger men young ladies and girls have shown very less
importance towards money matters. Even though younger men and ladies or
girls both believed that individual’s monetary proficiency and arranging would
enable them to enhance their personal satisfaction, yet young boys did show
more importance towards monetary understanding and awareness as
compared to girls.

Younger boy’s showed more enthusiasm and importance for money related
issues than younger girls, despite the fact that curiosity about cash and
monetary issues – and in this manner money related inspiration – is by and
large exceptionally restricted between youngsters. From earlier studies, all
things considered, close to a fourth of young people in the age group of 12 to
18 communicated they wanted to take in more coaching about fiscal related
18
issues, for example, bank accounts, charges, protection and getting cash.
Another study indicated that ladies were not eager to understand about
regular cash administration issues as they were certain about things. Even
though, the examination found that ladies thought it was essential to find out
about more unpredictable cash administration issues, for example,
understanding the monetary future, awareness on rights and duties when
managing cash and guaranteeing sufficient cash for retirement.
Women do not take risks in monetary matter
Both investigation and study confirms that ladies are less inclined to put
resources into danger as compared to men, and also that ladies are not
inclined more towards risk than men do. These outcomes were found among
a selection of nations as well as situations, and have taken strong moves on
ladies' lower salary, earnings, and monetary knowledge. As their earning
raises, this extent of earnings is held as unsafe resources and is assessed to
increment by very little sum for single ladies than for single men, resulting in
generally more hazard avoidance in money related basic leadership than
single men. They have found an exceptionally steady outcome that ladies
contribute less, and in this way seem, by all accounts, to be more fiscally
hazardous than men.

Suggestions for women towards monetary education

Ladies' outlook towards monetary related issues has vital ramifications to
carry out activities. From one perspective, ladies' avoid money related
decisions and low certainty about their monetary aptitudes which may
diminish their inclination to benefit from circumstances in the monetary
commercial center by constraining their ability. Then again, ladies' have
higher avoidance towards dangers in money issues, together with their
familiarity with their low monetary learning and their lower presumptuousness
than men; bring about a more reasonable monetary conduct which may shield
them from misfortunes or from being casualties of cheating in money related
activities. Ladies might be more reluctant to fall casualties of tricks since they
take very less interest in monetary markets. Even though, this indicates the
way that men's higher money related information may be sufficient or not
adequately focused to shield them from extortion, and that some of ladies'
19
states of mind may really help them maintaining a strategic distance from
excessively dangerous monetary practices'.

Ladies would need to plan and monitor their money

An important part of monetarily wise conduct needs to do with cash
administration which is for a short period of time. Observing on day to day
expenses will help in building monetary security for loner period of time and
maintaining a strategic distance from unsustainable levels of obligation. An
approach to pick up experiences on people's capacity to monitor their
accounts needs close watch on whether they have an individual or combined
obligation regarding everyday cash administration choices in their family
expenses and have a monetary plan. The discovery leads to the fact that
ladies will probably have a financial plan in accordance with the way that they
are essentially more probable as compared to men and have an eye on their
money related activities.

Making a decent living:

Most ladies have a tendency to eliminate expenses while men make an effort
to acquire additional cash. More examination proposes that men and ladies
are not similarly ready to make a decent living, even though ladies are well
again at monitoring their accounts. In addition, men and ladies seem to take
part in various approaches towards money saving when their salary isn’t
enough for their expenses. Ladies' failure to make a decent living can be an
indication of a lower capacity to put something aside for unforeseen costs and
of low money related education, however in the meantime it is seen that there
are lower earnings made by women
Intriguingly, Trinity Institute has done a review which demonstrates that men
and women participants seem to have distinctive adapting methodologies to
confront issues in making a decent living. Specifically, in a few nations ladies
are more probable than men to answer that their day to day expenses were
less. The reality ladies are more improbable than men to participate in
working exercises to build their salary focuses to their weakness in their
career and to potential imperatives in the accessibility and access to
arrangements looking to accommodate work and family life (e.g. taking care
20
of kids, working from home, and so forth.). After a certain degree ladies do not
get a lot of access to monetary prospect because of the absence of monetary
learning and belief. A significant number of them could profit by money related
coaching joined with commercial training and additionally access to
investments and funds. These measures could enhance the degree to which
ladies can build their pay adaptable as opposed to cutting use when they
neglect to make a decent living.
Sexual Variances in access to goods speculation
At any point when access to protected and directed monetary items is
conceivable, their suitable utilization and decision can be considered as
markers of clever money related conduct. It is quite fascinating to take a
glance at sexual variances in holding access to products before considering
how they are utilized and how they are picked in the accompanying passages.

The examination conducted by Trinity Institute shows information that

uncovers diverse sexual variance designs in the holding and utilization of
value-based accomplishment, venture, and protection of the goods, along with
the substantial contrasts among nations. Males are fundamentally more
inclined to hold to an agreement of goods particularly in creating and rising
economies, while there are no huge sexual variances in the completely
emerged nations. Males are essentially more probable than females to hold
goods speculations in the vast majority of the nations examined. In any case,
holding of goods speculations is very low as a rule; as compared to the
tendency to be very less in many nations. Generally males are more probable
than females to hold offers, securities, and speculations.

Males are altogether more probable than females to hold goods speculations
in the majority of the nations that were being surveyed. Nevertheless, holding
of goods speculation is very low in common; whereas distinctions have a
tendency to be little in many nations. Females and males were similarly would
save into things that have lesser risk and normally on returns which are low,
vehicles that help in saving, yet males will probably save which are high on
risk and returns goods, for example equity shares, saving and investment
opportunities, in comparison with females.
21
Sexual Variances conduct in saving and investment opportunity
Conduct for saving and investment opportunity is additionally a vital part of
money related proficiency, as it constructs monetary security and lessens the
dependence to purchase a loan. Investigating sexual variances in investment
conduct is applicable in light of the fact that financial, communal and
civilization components may produce contrasts in the capacity and affinity of
investments in males and females. In addition, males and females have
individual decision models inside the family which may impact family
monetary decision models, and due to this reason the entire family has varied
choices for investments.

When an investigation is done with reference to investment conduct, sexual

variances plays an important role. It is also important to recollect that
investments typically refer to the family as a whole and individual’s investment
choices are frequently a part of the entire family in making decisions for
money related expenses. Identification of this specifications, it merits by
taking a close look at sexual variances in investment conduct since it can help
distinguish females are unsafe in the monetary space, particularly for females
who are not married. In many nations which are secured by the overview
conducted, sexual variances in investment possessions are not factually
critical.

As far as investment conduct is done, in any case, it is more imperative to

take a glance at the extent of investment streams and at the measure of
gathered investment funds as opposed to just at reserve funds for holding
goods, since it reflects all the more precisely individuals' capacity to keep up
their expectation for everyday comforts in the midst of seniority. Proof from
the review information and different sources features sexual variances in
connection to different parts of investment conduct, including how much
savings are made by males and females, how savings are done, and what are
their inspirations for savings are. Sexual Variances in investment planning is
commonly exacerbated into amount of earnings they have. Males between
the age group of 25-65 will probably report holding retirement funds models
22
and report higher asset values than ladies of similar age group. In a family
that has females who are not married and head it have significantly low levels
of earnings than single males who head the family, with the space being
partially related to dissimilarity in noticeable attributes, for example,
qualification, age and income.

Sexual variances in the capacity to invest and the measure of investments are
probably going to be driven by several factors, whose particular significance
may vary crosswise over the nations. The confirmation that is currently
devised recommends that females are regularly ready to collect fundamentally
less in investment funds than males in the midst of their life cycle as a result
of lower income, because of lower work advertise cooperation, word related
isolation, and a higher probability to work as freelancer. This is identified with
the way that in many families, females are in charge of the greater part of
unpaid work, including nurturing young people and the older people. In the
mean while, factors such as getting married and family arrangement have
changed over the period of time, with more females not being married for
some years throughout their life, with couples being probably separated and
staying away, and with more females heading families as single parents.
Every one of these variables may lessen female’s capacity when it comes to
saving, particularly after leaving the job, and may bring about females being
more probable than males to confront monetary difficulties as it comes their
way.

As females typically age lesser compared to males, and normally resign at a

more youthful age, distinctive capacities to put something aside for a longer
period of time amongst males and females – whether through retirement
funds or other investment schemes – which suggest that females will probably
be less fortunate, to confront poor living lifestyles, or to rely upon relatives
when they get older.

One more factor possibly clarifying sexual variances is collection of assets.

Females have higher probability of encountering risk, primarily holding very
less financial assets and lower profits on investment. There is too much study
23
that additionally needs to be investigated the connection among females
accumulating lesser funds and sexual variances towards inclinations
considering risk and inclinations in time and in monetary understanding.

In addition the proof about the females and males investment schemes for
savings, the Trinity Institute study recommends the existence of dissimilarities
in connection to how males and females tend to save up. The Trinity Institute
assessment practice explored whether individuals had been currently
investing in saving schemes in the earlier year and through which channels,
including household saving of money, putting cash to bank account or using
goods speculation, taking an interest to casual investment funds association,
etc. Such a tendency to save casually may be due to certain powers,
including balance between demanded quantity and supplied quantity factors.
Females might not be able to access formal money related establishments
because of furnished quantity boundaries (e.g. topographical separation, lofty
charges, lower demand of bank balance, and so on.), and additionally they
may need adequate confidence and information to approach official monetary
establishments and utilization of money related items.

Female’s selection of suitable monetary items is not relevant

Last but not the least, selection of a suitable monetary item decision is also
shows the level of monetary understanding. In the event that individuals
endeavor to settle on an well educated choice by looking or utilizing free
counsel will help them probably pick proper items that address their issues in
a financially savvy way and will make them less inclined to purchase
something wrong, and also they will less inclined to be liable to getting
cheated.

Trinity Institute study also provides proof that show data and information from
nations where the surveys were been conducted that females are not able to
select the appropriate monetary items, since they do not do research on these
items as males would prefer to do, also they are not able to make correct
choices and utilize data and suggestions only from official resources.

24
The outcome from the Trinity Institute investigation indicate that males
comparatively evaluate and match the monetary items from different suppliers
through latest selection and they have a curiosity of finding out the different
types of goods and services provided by various nations.

Another important part of money related education is identified with item

decision that needs to do with the utilization of good resources of data and
refrain in choosing which items to be declined. Not just it is essential that a
customer endeavor to take an educated choice, yet it is much more
imperative that they pick proficient and free sources to accumulate data and
guidance. As per the Trinity Institute overview, females from a few nations
demonstrate lesser money related education than males in perspectives. To
begin with, females are more weird than males to have made an endeavor at
taking educated choices in monetary goods and services purchase was
estimated by whether respondents have counseled either non-autonomous,
for example, bank staff, companions, and confided in people or from
information gathered through media, or free references, including autonomous
expert guides, goods through which best value for money can be obtained
and professional papers.

An examination was conducted on males and females where males

significantly are more likely than females to settle on choices for bank
accounts and home loans in view of item qualities and cost. Having a current
association with a monetary foundation was also most imperative factor in
female’s decisiveness with regards to money matters. Additionally, the
examination showed that females did not read much or looked for information
with monetary items as compared to males. Females hesitate to utilize official
resources for guidance which can be an indication of low money related
proficiency and also be affected with the nature of the naïve suggestions they
get. The outcomes demonstrate that this conduct was more peculiar with
females, implying that female financial specialists were more as often as
possible anticipated that than male speculators would connect with
consultants before having the capacity to survey their quality. As the
confirmation on the furnishing of monetary guidance, particularly in connection
25
to the nature of counsel, is very constrained, more research is expected to
investigate the presence of any differential treatment to male and female
financial specialists.

Further study to identify the sexual variances with regards to monetary

education
This particular study has gathered a significant measure of confirmation on
sexual variances in money related awareness, states of mind and conduct. It
additionally distinguished territories where more research and examination
could be done with a specific end goal to get a more refined idea of female’s
needs and areas where they could require help.

Effect of sexual variances in younger age

With the help of more data and information at youthful ages, confirmation on
sexual variances in money related would help clear up to what degree these
distinctions are because there will be absence of chances of learning and
encountering about monetary issues along the life cycle in females. The
consequences of the monetary proficiency evaluation will give more bits of
knowledge on possible gaps in sexual variances and on different elements
related to it;

State of mind of females in sexual variances

To begin with, confirmations and proofs from a bigger arrangement of nations
would be useful in surveying the power of the outcomes that has been
received till this point. Second, it is fascinating to find out about what drives
females not to trust in their capacity and their lower enthusiasm for money
related issues as compared to males; with a connection based on the
assumption, between sexual variances in monetary information and
mentalities (particularly in terms of trust and avoidance of danger); and on the
connection between sexual variances in monetary states of mind (particularly
the amount of time and the king of dangers encountered) and monetary
conduct;

Effect of sexual variances in making a decent living and investments

26
Proof and confirmation from a bigger set of base would be useful to fortify the
outcomes listed in this report. Additionally, it is fascinating to know to what
degree females and males thoughts and approaches, money related learning,
and restricted access to business and enterprise drive their capacity and
affinity to make a decent living, to cut costs versus acquire higher salaries,
and to put something aside for sudden costs and as long as possible;

Effect of sexual variances in investment approaches

With the help of proof from a bigger arrangement of nations, particularly from
rising ones, it would be useful acquiring vigorous outcomes. Furthermore,
extra proof is required about the capacity of males and females to get ready
for the usage of money for longer period of time versus short run;

Effect of sexual variances on resources used for data and suggestions

It is seen that females become presumptuous than males and do not depend
on the suggestions from monetary consultants. Hence it is vital to understand
what factor makes them decide from whom take suggestions and look into
furnishing of this data.

Hurdles in female entitlement and the effect sexual variances

As compared to males, females display very less trust and understanding in
money related issues and hence have more intricacies in deciding their
conduct towards monetary matters. This information will help us decide what
are the reasons that are affecting the knowledge of females and recognize the
appropriate goods and services in monetary items.

There are a lot of factors that can be taken into account and compared in
sexual variances. From the earlier studies done by Trinity Institute we have
also seen that there are a lot of reasons and factors that affect the
understanding of monetary related issue and on attaining information on the
same. There is very less exposure to the awareness and knowledge related to
money matters, the scope of jobs and access to official marketplace for
females. This not only decreases the welfare of females with regards to
money but also gives them less opportunity to create awareness and
27
understanding for self learning, which in turn hampers their trust and
capabilities in monetary matters. All these reasons would be examined and
analyzed below with the help of illustrations collected from matters and
guidelines and specific nations.

So far all the documentation and papers on vital causes of sexual variances
remains to be at very nascent level and hence it is tough to associate them
together. Practically the victim of this issue faces problems, one where the
females are stopped from being exposed to the chance to monetary matters
to obtain monetary education and second sexual variances gets differences
between males and females in many aspects of their life. Therefore we ought
to have guidelines and curriculum to enhance the monetary access and
education for females across the globe as this will increase the overall
economic development of the respective nations.

The responsibility and influence of sexes differs in monetary

assessments
The vital clarification of females with low monetary education is directly
related to the kind of activities done at home by them. The factors that
influence males to have better monetary understanding is due to the fact that
they are not involved in the money management for the family as they find it
very time consuming and tedious and also because of the communal and
society customs. Hence the males have a tendency to indicate more
inclination to gain monetary education as compared to females in different
nations.

The fact that females are more involved in looking after the monetary
wellbeing of the family they hence have a very small role in other important
monetary decision making. The initial proof from examinations done earlier by
Trinity Institute indicates that together males and females need to work as
associate and take care of the everyday expenses at home. This will improve
the sexual variances if followed properly at the national level and enhance the
female entitlement.

28
There are proofs and confirmations from earlier studies of sexual variances in
monetary education and specialized area are varied with the family expenses.
Some studies also showed that an adult female will have more monetary
education as they she ages by time, as a result being important manpower for
the family expenses. It also indicates that as they grow older and have been
managing the money matter at home they ought to have more monetary
understanding and awareness which can lead them to educate their kids at
home. This also needs to be considered as a part of the study to improve the
conditions of females.

The measures taken to enhance Indian female’s situation

There are a lot of cases of sexual variances found in India due to female
feticide and inequality which starts at a very juvenile age with girls. This
aspect of discrimination is seen more in the middle division of families within
India.

Nowadays with improvement in guidelines and curriculum the sexism issue

has been tackled at a very low level starting from schools, especially at
preliminary level and also moving forward it will be taken care at the higher
level of schooling. We have seen many illustrations to enhance the growth of
deprived people by helping them send their children to schools, especially
girls. One of them is being providing food or meals at schools which will
promote parents to send their children to schools. But this is not seen in the
case of younger males. Other guidelines such as providing a female friendly
surrounding at school by appointing more females teachers will make the girls
feel safer and secure. This will help enhance the number of girls coming and
attending school on regular basis. These initiatives led to girls attending
schools on regular basis by more than half of the population

If we take a close look now at the villages and other smaller town in India we
will get to see that adolescent and older females are not able to study, take up
jobs and participate in learning and coaching programs at earlier stages of
their life. This situation is present among females in villages who married and
single as compared to females in cities of similar groups of age. Getting girls
29
married at a younger age can hamper their involvement in learning and jobs.
There are programmes made by the Government of India which allows them
with to win cash prize for younger females and their families by enforcing
rules such as not getting the girl married unless she is 18 years old. This rule
promoted the programme and also helped parents to increase their girl child’s
social assets by putting in more money into this programme.

The government has built in more schools, and other training center so as to
improve the contribution of female’s work force in terms of jobs. For example,
in India they have initiated a program so that females work and earn for
themselves by allocating external schemes of training programs, by making a
provision to earn equal to males, by giving them provisions for kids care at
their offices and providing them with office locations closer to their houses. All
these initiatives helped getting more salaries to females as compared to
private sector jobs but also been condemned with reason such as less cost-
effective, higher fraud and bribery cases, lack of provisions at and close to the
office.

There is very less exposure to monetary marketplace for female’s individual

use of money as well as for business women in India. In this case males have
more than 705 of exposure to such marketplace or official monetary
programs. Provisions to females in terms of banking services has been
promoted now for several years, which has benefitted the females in the cities
and in better progressed and evolved places, monetary and communal
groups. Governmental agencies also promoted other programs where women
can independently purchase or access money through loans for themselves
through different conduits. But at the same they had issues in getting good
interest rate for the purchased loan. To improve this condition government
warranted schemes through which business women could purchase loans at
better interest rates. Other programs and initiatives were also created to uplift
conditions and provisions for the female business entrepreneurs.

Poorer provisions in literacy and jobs for females due to sexual

variances.
30
In monetary world the knowledge and understanding of money is directly
compared to the level of educational qualification one has. This seems to be
practical and realistic based on the imagination made that lower educational
qualification means lower monetary knowledge. Statistics indicate that school
admissions of girls are lower as compared to boys in few places around the
globe. Many nations have been successful to provide preliminary studies to
girl child and have taken care of the sexual variance issue there are few
exceptions that are still present. Few nations which are have poor economic
and social conditions such as Africa and Southern Asia these sexual variance
issue still persists and seen that females do not receive higher or further
education other than the preliminary ones.

31
Case Study 2: Akshara Academy

Financial literacy is the education and understanding of various financial

areas. Financial literacy is the control of the knowledge and exposure of every
individual woman that she is aware of while making financial decisions.

It is been seen that lot of women have committed suicide in areas where
urbanization and globalization has not entered. Females were been used like
slaves and even though they hold multiple big positions but still they are the
ones who were suppressed for decades and were been stopped to decide
about their future and the welfare of their children. These females are always
been a liability or a dependency on the ones who earn for the family or their
spouse. Females were never given an equal opportunity to perform.

A smallest tradition which is been practiced since ages, females will follow the
men while having food. Once the males are done with their food, females will
then consume food. These traditions are still prominent in many countries and
states. In our countries, many rural regions, this practice is prominently seen.
They have no right to live or express their thoughts or vision. Their spouse or
children will drive their thought process. IF unmarried, their parents will rule
their way of thinking. After marriage the in laws and spouse will dominate
them at every step. This tradition has to break somewhere. It has to start from
the smallest traditions and then turning towards bigger rituals. These rituals
have been set as a practice and thus, females are not been able to take a firm
stand in their families.

Similarly, while any financial decisions; even if the money belongs to the
females, the decision of investment is always of the male or the karat of the
family generally the head person who is again the male.

Here comes the value of investment learning which will help females to
become self-sufficient so that they can achieve financial stability.

32
Today, due to advancement in technology, it is been noticed that people are
becoming aware of all policies and acts or laws that are been passed. Simple
applications like imo, whatsapp or any other application has created a
platform for females and other parts of the society to interact and integrate
among them so that they can unite and perform better. Working together is
always better than struggling alone.

Previously just to apply and go through a process of funding was a bigger

challenge, but today, it is all at a click. Females can just get in touch with
financial institutions across the country to avail for multiple funding options.
There are also comparisons possible today as every banking institution has its
own website or an application. Most of them are responsive and have
uploaded their data and the interest rates that they offer. Today we can simple
login to the internet and just check which bank or institution provides funding
at lower margins and we get a huge list of banks. This helps us to filter the
best and forget about the least beneficial banks.

Giving rights and exposures to females will give them more vision and
objectives to think. This will help females to get exposed to the world and be
more aware of the concepts and opportunities. Also, the challenges while
investments can also be learnt just by browsing few scenarios. The
development of any nation only depends on the social status of women. The
entire population if considered, fifty percentage of the population is of females.
Women have been sufferers of misuses by male dominated society. Women
need to be empowered and men need to be focused on about their
responsibilities towards women. Both on national as well as international
platform there are many laws aimed at empowerment of females in all domain
and areas where she performs.

The Important Law of the land specifically Constitution of India guarantees

that females should get equal rights in everything let that be at work or at
personal life. Government has also directed the police and other departments
to support women in cases like exploitations from families, in laws, spouse

33
another. This protects the females from been exploited and can always raise
their voice.

In spite of all these developments, the fact remains that extensive violations of
women's rights continue to persist. Though excess of regulation sexists, due
to ineffective implementation, women are exploited by the male dominated
society. All law is not justice; nor is all justice law alone. At times there could
be more justice without law and similarly there could be times when strict
adherence to, or mindless application of laws, could lead to injustice. The
present research paper critically analysis the role of the legislature and
judiciary in empowerment of women.

Women in different Nations and Sexual Variations

Female’s monetary education and equivalent provision to essential money
related administrations are to be considered to give equal status to them
based on the grounds that out of the nation's entire population over half are
females and out of the working crowd more than half are ladies. In spite of the
fact that it is once in a while being said that in emerging nations males have
more access to education than females except for few sections in the world.
In spite of this situation, in considering the larger part's worry it is the perfect
time to go to bat for what is properly had a place with us. A few sections of our
society still stand upon conventional methods with strong convictions and
social viewpoints. Due to which females do not get appropriate dispensation
and are being abused and kept shut. Because of these convictions and
angles females are denied from training and everyday comforts. These social
viewpoints many at times frame an obstruction between the correct decisions
and the commanding decisions. To avoid this situation and empower females
give ladies appropriate monetary knowledge and abilities. They have abilities
however they don't have legitimate money related instruction. To become a
business visionary and afterward to at last be effective as driving agent ought
to be our objective. Legitimate money related instruction will change their
states of mind, abilities, alternatives and competence and also to prepare
them with unborn capacities and to walk free with more prominent learning.

34
In many parts of the nations spouse or husband is seen as vital character in
making important choices for the family and regularly considered as the main
chief. The most critical position is they all fall short to comprehend is that if the
lady is additionally fit for being the provider in the family the expectations for
everyday comforts of the family, the family status will ascend and will improve
the monetary perspective. In short, with current practical conditions the world
is confronting if the females additionally had the opportunity to help the family
close by the males it will enhance the expectations for everyday comforts of
that family. This is because the family unit is the least collection of people in a
the world and if this contemplation was to spread in the township, urban and
rural region, nation and all through the world in a shorter period of time we
would have the capacity to see optimistic outcomes.

The data facet of monetary acquirement is not the only thing that is required in
nations that are emerging and rising, a decisive research on business people
was done. It indicated that males as compared to females got bigger
investment income. Whereas they did not get enough proof that there was
space in accomplishment as described by variations in monetary data,
females still didn't invest in their imaginations and creativity or failed to create
further benefits while doing savings and investments, leading to non-fulfillment
in receiving monetary education. Some of the important aspects of monetary
data are enthusiasm and trust can also be vital, particularly wherever
conventional and communal obstacles are notable, even though nations have
made so much of progress.

Sexual Variations and Work Opportunities for Females

Regardless of females expanded interest in the workforce and job
opportunities, yet no noteworthy increment is seen in the sharing of
unresolved positions, including providing care, amongst females and males
which influences females work decisions. Various nations have presented
guidelines on waged opportunities, which includes lessening of the number of
hours at their jobs, times of working which is adjustable, places of their work,
and the alternatively providing both males and females options such as
35
freelancing and working from home to accommodate their work and family
obligations. Options such as work from home and freelance jobs are
principally more opted by females which results in lower or limited salary and
also affects their savings for older age, especially retirement funds.

To look into sexual variations and females who face issues in it nations should
revise guidelines and strategies for them, involving improvement of females
capacities to adjust to changing work economic situations, encouragement to
lessen unresolved positions, sexual variations at work places and in workforce
opportunities, upgraded abilities to aggregate activity. Expanded obligation of
all partners— provinces, the isolated area and common society—for providing
care is especially vital.

Unambiguous-sexual and unbiased-sexual work controls both seem to be

influential in taking out sex imbalances and separation and guaranteeing gain
to acceptable work; and together have unplanned hindering effects. Sexual
stereotypes guidelines and strategies can help secure defenseless laborers,
make a connection between formal and casual working provisions and make
more bound together work markets. It is, be that as it may, progressively hard
to guarantee that all ladies advantage from work showcase directions on the
grounds that numerous ladies in creating nations work in the casual segment
which stays past the scope of direction.

There are a number of examinations performed on the guidelines and

curriculum developed which indicate that there are a lot of barriers and some
good implementations and features that would require future study. With the
help of proof and studies done earlier these guidelines and curriculum have
been developed to assist in looking for the necessity of monetary education of
females in various regions and environments and to maintain the further
processing for these committed guidelines and curriculum for the betterment
of the females across the world.

Together males and females should be monetarily educated well enough so

that they can participate in the financial pursuit and schemes and make use of
36
best monetary actions through proper knowledge and awareness to look after
their own welfare and of their families as well. Furthermore females should
enhance their monetary understanding and acquire good knowledge as
compared to the males due to the fact that they have higher liveliness and
receive lesser salaries than males which in turn affect their financial status
after retirement. Moreover if they improve their monetary knowledge and
understanding as compared to males, they would require removing the
hurdles and barriers and taking care of their own individual welfare.

The importance for the need to deal with monetary education by females is an
approach to enhance the financial ability and capacity which is growing fast
worldwide significantly and is reproduced in numerous enterprises at a
nationwide and worldwide level. Monetary instruction is a vital implementation,
although it is not the only one to improve female monetary enablement and
monetary liberation. The purpose is to progress strategies and to endorse sex
impartiality in low-cost in associate and non-associate nations, the Trinity
Institute started the gender equality program to inspect prevailing walls to
sex parity in teaching, service and businesses.

This was done to notify, share plan involvements and upright performs, and
encourage administrations to endorse sex parity (gender equality). The
necessity to grow and device creativities meant at educating females
’monetary education is documented. It means that women are at times over-
characterized in underprivileged clusters in advanced and emerging nations
and classifying ladies’ monetary teaching wants as an area commendable
additional investigation, program examination and direction. To gather
information for sex variations in monetary literateness and program answers
at the nationwide level, the Skilled Sub-category directed two investigations
amongst AKSHARA ACADEMY associates, which recognized numerous case
revisions on monetary teaching programs especially for females and girls.
Furthermore, the AKSHARA ACADEMY Employed Broadsheet “Endowing
Females through Monetary Consciousness and Teaching delivers a initial
evaluation of the works on sex variations in monetary literateness and the
strategy answers. And the foundation of this work, the Sub-category passed
37
out further investigation to gather additional indication and the case
educations. This research work is meant for concerned nations in their
development and execution of monetary teaching programs aimed for
womenfolk and girls to give provision and labors in concluding current sex
variances.
Opportunities of this report grounded especially on two evaluation
assignments, also on extra indication form educational and policy study, this
section:
• State suggestion of sex variances in monetary literateness, illustration of
the AKSHARA ACADEMY monetary literateness dimension study and also
about other educational study and nationwide indication, it mentions
numerous parts where additional study must be directed
• states the prevailing proof on issues connected to sex variances in
monetary literateness and about the obstaclesfemales might face in educating
their monetary literateness
• recognizes and deliberates case educations presenting how nations
involved in monetary teaching to discourse females requirements in monetary
matters, and mentioned the consequences of obtainable programmed
assessments
• categorize important educations beginning from the experiments and
decent performance emphasized via policy enterprises also with their
assessments.

Construction of the indication and involvements states in this research, the

AKSHARA ACADEMY expounded Policy Management on Speaking about
Females Requirements for Monetary Consciousness and Teaching to help
recognize the requirements for monetary teaching of womenfolk in diverse
situations, and it supported the growth of enthusiastic policy enterprises
reliable through the nation-wide significances for monetary teaching and sex
parity or sex variances in monetary literateness. This unit presents the
foremost answers on sex variations in monetary literacy, drawing from various
sources, including available evidence from national financial literateness
studies and world-wide study. Furthermore, the principal conclusion about the

38
AKSHARA ACADEMY monetary literateness dimension examination is stated
to deliver related understandings about the dissimilar monetary information,
approaches, and activities of womenfolk and men folk. Womenfolk have
lesser stages of monetary information. In a huge figure of nations, womenfolk
have inferior monetary information than males. This is a healthy part of the
information it proofs that it holds advanced and emerging nations in all
sections across the world. Furthermore, using diverse evaluation apparatuses
in a very less quantity of sex variations are not important, and almost in every
nation females were considered to be more well-informed than males.

Acquiring communal security

Both males and females encounter dangers and also adapt to it, uncertainty
and emergency in an unexpected way. Because of dispensation to
disproportionate possessions and assets, due to the birth of a child they have
discontinuity in their work, disparity in distribution and responsibility of
unresolved positions, areas in less very much controlled types of work and
compensation paid which are quite less, numerous females can't safeguard
their individual self alongside possibilities emerging due to seniority, sickness,
being handicapped, no job situations and additional life emergencies. These
frailties are created by worldwide competitiveness; markets that are
adjustable in terms of workforce and repeating monetary emergencies have
offered ascend to firm requests for communal security encouragement from
the nations.

An essential level of security has to be a piece of the communal agreement

flanked by the nations and their residents. The four important components of
the communal security are ensured wage protection for all kids, ensured
access to fundamental means-test and self-focus on communal help for the
underprivileged people and the jobless, ensured wage protection for the
elderly old aged people and handicapped individuals, and ensured access to
essential medical advantages; can be planned in a way which guarantees
awareness to sex unambiguous necessities and safety for the overall life
cycle period.

39
Further study by AKSHARA ACADEMY recommends that essential
standardized savings can be managed by for all intents and purposes all
nations, and, if intended to assume a formative part, would give good returns
by its own for a longer period of time. Since females are excluded from many
these policies, they would profit unequally if changes were planned in a sex
unambiguous way in the overall life cycle.

Safety measures in earnings for youngsters protects their prosperity and

enhances their wellbeing, sustenance, participation in learning, instructive
accomplishment and, sometime down the road, workforce execution.
Activities to progress safety measures in earnings incorporate remittances in
real money and free or on the other hand financed arrangement of
fundamental products and ventures. Presumptions about female’s duties
regarding home and household care, furthermore, can convert into strategies
that challenge their ability to attempt work away from the household.

Safety measures in earnings for the jobless continues to be a big challenge,

especially in emerging and rising nations in which labors having low salaries
are not a part of the reserved communal protection framework, which consist
a major part of female population. Methodologies have been created to grow
scope of female entitlement by incorporating money exchange projects and
plans for assuring jobs, like the ones created by governments across many
nations. Sexual variation related imperatives that can be strengthened by
program outline which has kinds of jobs recommended, are limited due to
decrease in female involvement.

Monetary information might be some amount of the outcome of sexual

category discriminations in other provinces of Sexual category alterations in
monetary information at early ages Sexual category changes. Providing they
have remained unprotected to an additional democratic situation in positions
of sexual category with admiration to their elder nobles it is conceivable that
sexual category changes in monetary information are slighter among younger
groups if this is the circumstance. Associated to the dissimilar occasions that
females and males have to involvement with monetary subjects along their
40
lifecycle, and may consequently be connected to noticeable demographic,
communal and financial aspects are smaller but still important sexual category
alterations after regulatory for socio-demographic issues.

Sexual category change may, to some level. The sexual category opening is
not clarified exclusively by alterations in socio-demographic crossways sexual
category experiential indication shows that sexual category alterations in
monetary information are connected with changes in socio-economic
circumstances of males and females certainly. It is similarly stimulating to
emphasis on females only by examining which sub categories of female
exhibit the lowest monetary information of are the ones who are not learned
and underprivileged females seems to have lesser knowledge about money
gathering.

Who might be greatest in need of refining their economic literateness this is

applicable as it can help strategy makers to recognize the subcategories of
females. Their professional position and their domestic revenue, while there is
hardly any change by matrimonial status or age of the outcomes of the
AKSHARA ACADEMY inspection show that there are noticeable alterations
crossways females rendering to their teaching. Economic information by
matrimonial position rendering to the survey in most nations there is little
change in females’. Females who are married are barely dissimilar from
single, live together and separated females.

This indicates that females who are married do not acquire understanding and
knowledge from their partners or husbands and the ones who are not married
are executing it but not actually learning it. Even though there are many types
of experiences they have in their marital status. According to the research
conducted by many a female’s understand and awareness about monetary
matters is not affected due to the status of their relationship or if they are
married or not but overall participation and contribution from their end to learn
it.

41
Women are paid less than men, discrepancies being largest among top
earners. In many countries the pay gap has narrowed in the past decade. In
recent years, however, it has closed at a slower pace and wide gaps persist in
a number of countries. The wage gap is narrow for young women, but there is
a wage penalty for motherhood. Much of the wage penalty is explained by
women working shorter hours in lower-paid occupations than men. However,
in many countries, unobserved factors account for a sizable component of the
gender pay gap. Family policy (childcare costs and parental leave) and wage-
bargaining institutions affect the gender pay gap.

The status of Women in House Hold and Business Women

Over the past five decades, there is an increase in half of the economic
growth due to increase in education for ladies and girls through various
policies. The reason to such an economic growth is because for higher levels
of education and gender equality given to girls and ladies provided over the
number of years. With the help of good educational policies for females, the
government is taking initiatives through various policies and empowerment
programs to narrow the gender gaps in labor empowerment amongst females
thus increasing female employment. There are various such examples where
females have been given equal opportunities with the development of the
service segment, and the developing leave policies for parents, various
childcare and baby daycare centers and flexible work time and places (such
as part-time or work from home options), which help out females to
counterpart commitments between work and family and stay put in the
employment opportunities. Other reasons include non-friendly workplace, no
proper maternity leave policies and the less access to facilities such as good
childcare and baby daycare centers.

Additionally, women tend to choose part-time jobs or work from home options
or jobs in public sector, wherein working environment are more favorable and
flexible to strike a balance between work and family, and therefore do not opt
for jobs into private sector jobs which do not have such favorable conditions

42
Women are considered as a significant component of the labor
empowerment, but still continue to be symbolized less in the labor
empowerment. The low symbolization of women as employees and leading as
business women in many countries has lead to the research related to huge
gaps in the fields of study preferred by youthful boys and girls. Ladies and
girls are more seen to acquire degrees related to health and the humanities,
but are signified lower as compared to students and graduates acquiring
degrees in the fields of study of Science, Mathematics, Engineering and
Technology.

Even though there is advancement as far as school support and more

significantly in differences in gender in many nations, the change from
schooling to work keeps on posturing many difficulties, and more equality in
education does not generally convert into further equal opportunities for
workforce. Many nations that are well emerged, there are more number of
ladies who have joined in jobs and workforce of late. However they regularly
encounter more trouble in finding the first job. They also tend to earn lesser in
comparison to males and will probably work in part-time jobs.

Besides the choices that younger girls and boys consider, in different aspects
of the study continue to see disparity in sexes in terms of workforce and jobs
with lower number of females getting into business and only taking care of the
household and welfare of their family. These differences in gender contrasts
exist to a vast degree since ladies still endure the worst part of the unpaid
household responsibilities, for example, childcare and housework, due to high
expenses and shortages of childcare services, and in view of family-
unpleasant work conditions. In addition, differences in gender in the
employment market can have longer-term results influencing ladies' and
men's capacity to put something aside for both short and long haul needs and
may particularly affect ladies' retirement.
Many of the nations which are still rising and emerging, a lot of female
population are not making use of their qualification and also not putting in
efforts to learn monetary aspects. This is much of the time identified with early
marriage, pregnancy and other duties. Albeit when they enter the employment
43
market, ladies will probably be limited to the most powerless occupations,
oftentimes in the casual division. As said already, differences in gender in
money related education are firmly connected with differences in financial
states of men and ladies. This proposes tending to the obstructions that point
of confinement of young girls and ladies' entrance to schooling and education
and also job openings. This would probably have constructive outcomes,
among the others, likewise on decreasing the differences in gender in
monetary education, therefore enhancing ladies' money related empowerment
and prosperity.

Females still suffer sexual variations to set up business and maintain

money
Many females find it hard to find job opportunities or well paid jobs in
comparison to the male population, but they also fall short of capacity and
ability to handle money and business. Considering the entire world’s
population, most males work as business persons than females. This is due to
fact that females do not invest more time in gaining monetary knowledge.

At the point when ladies do begin organizations, they perform very low and
very inconsistent as compared to men and have insufficient knowledge
especially in terms of money management. Despite the fact that they invest in
very smaller businesses and in smaller sectors of business thought about,
ladies possessed organizations have different highlights that are related with
bring down deals, benefits and work profitability. Also, ladies frequently have
distinctive inspirations for beginning a business than men: they will probably
progress toward becoming entrepreneurs due to the necessity of the time and
will still give more importance to men in terms of time. In addition, ordinarily
ladies begin their ventures with bring down human capital; bring down earlier
work involvement, and lower administration aptitudes and money related
proficiency than men.
Various monetary and non-money related obstructions restrain the
improvement of female-claimed business persons in smaller industries as
compared to the population of males. The communal, organizational
situations and some of the rules and regulations made they find them as
44
hurdles in gaining the monetary knowledge. There are population of males in
few nations that are given more significance in terms of land and other
possessions and there are very measures and guidelines made for females to
acquire the same.

Communal standards frequently instigate encourage confinements on ladies'

entrepreneurial exercises by constraining their versatility or by lessening the
time accessible for business because of the overarching sex division of work
inside the family unit. In many of the emerging nations, we see that males and
females both together are given the provisions to attain money whenever
required with the help of government guidelines made. Nonetheless, ladies
confront more challenges in getting to back, and fewer ladies and very few
females can actually get these provisions of money from the banks and other
monetary sources to suffice their new business needs.

The traits and behavior in female raised organizations affect their capacity to
get to back, including the little size, the fixation in less productive ventures
and their familiarity. What's more, ladies may be charged higher loan costs
and requested more certifications, as they regularly have shorter records of
loan repayment, less working limit and guarantees. For case, numerous
female business visionaries in India confront challenges in getting to credit at
reasonable rates. It is additionally conceivable that a few loan specialists may
charge ladies more since they have one-sided assumptions about ladies'
ability to meet their obligation commitments, yet confirm in this regard is
insufficient. At last, non-money related boundaries likely communicate with
monetary ones. The degree to which these issues are tended to fluctuates
crosswise over areas that gives confirm on the accessibility of effort programs
for ladies that objective the arrangement of monetary administrations through
government activities or private loan specialists.
As specified beforehand, sex contrasts in money related education are
unequivocally corresponded with contrasts in financial states of men and
ladies. This recommends tending to the components that farthest point young
ladies and ladies' entrance to training and business openings would probably
have constructive outcomes, among the others, likewise on decreasing the
45
sexual orientation hole in money related education, subsequently enhancing
ladies' monetary strengthening.

Ladies' lower monetary incorporation

Ladies confront troubles in getting to back for their organizations as well as for
their own utilize. In many districts of the world, less ladies than men have a
record at a formal monetary organization. In addition, in a few areas of the
world ladies are more probable than men to utilize casual items.
Communal and lawful behavior is distinctive in males and females
The sexual variations between males and females in terms of setting up a
business is seen in both terms communal and lawful where females tend to
follow the more which influence ladies' ability to take an interest in monetary
exercises and accomplish square with results as men. In numerous nations,
yet to differing degrees, prejudicial states of mind towards ladies' business,
incorporating the communal values in terms of resolved and unresolved
positions crosswise over sexual orientations, and unfair social standards as
for the conditions of the females within the household (example getting
married at early age or bearing a child) a critical part in influencing ladies'
entrance to monetary assets and openings. In addition, social, social and
financial components may straightforwardly oblige ladies' capacity to go to
money related courses/workshops, apply their monetary learning and act
freely in the monetary area.

Furthermore, in a few areas of the world there are considerable separations in

not just in social, yet in addition in lawful treatment amongst men and ladies.
A lot of countries in the Middle East, Africa and Asia express legitimate sexual
orientation separations which are most normal, both in getting to foundations
and in utilizing property. For example, numerous economies in the MENA
nation area force no less than one limitation on ladies' ability to get to
establishments (e.g., a wedded lady will most likely be unable to apply for an
identification similarly as a man, or a wedded lady will be unable to present
citizenship on her kids similarly as Such as man could do and will a tendency
of dissimilar privileges.

46
Dissimilar communal outlook and privileges are the main fundamental cause
for lower financial strengthening. Despite the fact that many components are
affecting everything in clarifying ladies' monetary cooperation, bring down sex
equality is related with ladies' lower work drive support and lower business
enterprise level. Thusly, these dispositions and practices are probably going
to restrict additionally ladies' monetary autonomy and strengthening.
Continuous research endeavors and approach activity are expected to
address the elements influencing sex contrasts in money related prosperity.
The proof evaluated in the area features the presence of considerable sexual
orientation differences that can influence the way men and ladies procure
monetary learning and aptitudes, and that can realize sex contrasts in money
related education. Nonetheless, the proof on the potential reasons for these
sexual orientation contrasts in money related proficiency is as yet restricted
and it is additionally extremely hard to set up causal connections between sex
contrasts in money related education and on financial results. It is along these
lines of incredible significance to keep completing exploration endeavors to
enhance the comprehension of the components that utmost ladies' money
related proficiency, and to cultivate approach activities tending to sex
imbalances in financial what's more, money related open doors.

Money related instruction is a key instrument to enhance ladies' general

monetary and financial strengthening however can't the only one address
every one of the difficulties confronting ladies' unequal financial results. By
and by, directed and all around outlined monetary training arrangements and
activities can address ladies' needs and help them to enhance their
mindfulness, learning, certainty, and abilities in managing monetary issues.

Tending to ladies' money related instruction needs through arrangements and

committed projects
A. Money related instruction arrangement activities: needs and target
gatherings
The confirmation on sexual orientation contrasts in monetary proficiency
exhibited by national and global considers, and in addition the proof on huge
sexual orientation imbalances to monetary open doors, features the difficulties
47
to enhancing ladies' and young ladies' money related prosperity. Arrangement
mindfulness on the money related instruction needs of ladies and young
ladies is exceptionally heterogeneous crosswise over nations. In light of the
difficulties distinguished above, different nations at various salary levels have
recognized the need to address the monetary education of ladies and young
ladies by creating focused on monetary instruction strategies and activities.
Despite the accessible proof, strategy mindfulness is still low in numerous
different nations about the need to address sexual orientation contrasts in
monetary education and boundaries to ladies' monetary and money related
prosperity and openings, as uncovered by a stocktaking exercise attempted
among individuals. This segment gathers data about nations' strategy
reactions to such difficulties, distinguishes effective practices and contextual
investigations on money related instruction for ladies and young ladies in
more than 50 nations over all areas of the world, and investigations their
fundamental characteristics. The dominant part of activities evaluated are
grown solely for ladies and additionally young ladies; in any case, this area
likewise incorporates a couple of other significant programs that are for the
most part taken up by ladies/young ladies, or that have a specific concentrate
on ladies/young ladies despite the fact that they are available to the two men
and ladies.

The pursuit for monetary education was seen in both emerged and emerging
nation’s villages as well cities and regions in diverse levels of money related
accomplishments. Programs were created and directed to look after certain
sections of females such as the young girls, elderly or old aged females,
ladies with low earnings, with no jobs, declined off monetary assistance by
family and females living in restrained areas.

Schemes and programs are created by different sections of the society such
as consultants (for example, governments also, monetary markets
controllers), not-revenue driven associations working at the neighborhood or
global level, microfinance establishments (MFIs), and money related
organizations. The projects distinguished address different points, running
from money related items mindfulness and everyday monetary administration,
48
to acquiring, long haul monetary arranging, and purchasers' rights. In a few
cases, standard money related training themes are joined with other vital
abilities, for example, enterprise and business aptitudes, and wellbeing
related issues (e.g. HIV/AIDS counteractive action). A few activities go for a
similar time at expanding the monetary proficiency and monetary
consideration of ladies, joining monetary training with access to formal money
related items (for the most part bank accounts). While most activities are
through instructional classes and courses, these are regularly combined with
paper-based materials, warning and directing administrations, sites and
recordings.

To some degree the monetary needs of ladies and young ladies are diverse
crosswise over different districts of the world and this is halfway reflected in
the attributes of the money related training programs dedicated to them. Most
projects in created nations are focused at grown-up ladies and address cash
administration and sparing subjects. These projects are additionally every
now and again centered on making arrangements for retirement and keeping
away from over-obligation. Unexpectedly, money related instruction programs
in creating and developing economies are extremely regularly focused at
young ladies and young ladies, and go for helping them enhance their money
related (and generally) strengthening. Money related instruction programs in
low and center pay nations are additionally regularly connected to monetary
consideration activities, enabling young ladies to get to exchange, sparing and
microfinance items. In addition, a considerable lot of these projects likewise
incorporate preparing on business enterprise aptitudes and business
improvement, to manage ladies and young ladies in setting up and running
pay producing exercises.
Whatever remains of the area is given to depicting the fundamental attributes
of the most significant activities, in view of their approach objectives:

• Addressing the necessities of particular subgroups, i.e. youthful and old

ladies, low-salary and other minimized gatherings of ladies, and female little
and small scale business visionaries; and

49
• Improving ladies' methodologies in managing different monetary issues,
including cultivating the utilization of formal sparing records, avoiding over-
obligation, or helping ladies getting ready for retirement.

Tending to the necessities of particular subgroups of ladies

A few subgroups of ladies have especially low monetary information and
monetary proficiency all in all, in particular youthful and elderly ladies,
dowagers, less knowledgeable and low pay ladies. Additionally,
underestimated ladies needing enhanced monetary education frequently
incorporate small scale business people who begin a business out of need.
Different associations have perceived these bunches as being most needing
focused on money related instruction activities, and have planned particular
monetary instruction projects to address them.
Girls who are youthful
Particularly in creating nations, young girls and young ladies confront different
difficulties from a youthful age. They should be set up to assume liability for
meeting their day by day needs, to manage life cycle occasions, for example,
marriage and births, to adapt to crises and sudden occasions, and to take
preferred standpoint of monetary and social open doors when they introduce
themselves. In addition, there is confirmation of sexual orientation contrasts in
monetary learning even at youthful ages. Money related training can add to
building a comprehension of essential ideas around sound cash
administration, advancing familiarity with individual monetary issues and
decisions, eventually cultivating their monetary autonomy and helping them
wind up noticeably educated money related leaders as they move into
adulthood. Additionally, more prominent monetary proficiency and more
money related autonomy can play center part in engaging them additionally
from a more extensive social and wellbeing point of view. Consequently,
NGOs working in different nations of Africa, Asia and Latin America give
monetary education preparing and access to money related administrations
particularly to youthful and defenseless young ladies.
The program targets youthful females, and goes for engaging young ladies
from a financial perspective by giving

50
(I) week after week amass gatherings with their funds gathering and an
instructor who will be lady in safe and secure places
(II) assembling and devising learning and coaching programs on money
management and
(III)Provision to ones savings account that helps to keep cash with no certain
criteria without monthly charges.

Monetary education for younger females was started in the Zambian nation in
the year 2009-11. It started with training and coaching the younger girls and
ladies in the age group of 16 to 35 years over 8 provincial regions of Zambia
with freedom to handle monetary matters and choices in living with the help of
the training and coaching program for monetary management. This program
was created and delivered by the mentors and other specialist in the field of
monetary management to the local females.
In the Dominican Republic, Micro Finance Opportunities (MFO) conveys
money related instruction to urban young ladies. To the young females in the
cities to give them a better state of living with creating accounts in banks with
the help of certain programs. This helped improve on the monetary choices
and cash management among the low salaried females within the Dominican
households. It just did not provide learning to the young females but also
enhanced the creation of money related training program to be more efficient
and effective. Learning at school levels not only helped the young girls and
boys to gain knowledge and understanding in money management but also
improved ladies entitlement. This helped in overall development and
strengthening of the female population with regards to money related choices
and investments by them.

Elderly ladies
Additionally, more seasoned ladies will probably confront neediness or
monetary hardship then men due to their longer future, bring down normal
income, and lower work showcase connection. Especially in nations with
constrained standardized savings arrangement, ladies may need to depend
vigorously individually cash administration aptitudes in maturity. Besides,
elderly ladies may require extra help in the money related decisions because

51
of weakening subjective capacities. A few projects have been produced as of
late to help elderly ladies in trouble.

For instance, so as to address elderly ladies' danger and risks in monetary

management but the program drew in more established (55+), foreigner as
well as low-salary ladies to create, educate and share money related
proficiency instruments about monetary arranging, obligation administration,
anticipating circumstances of money related manhandle, and so forth and to
giving cash administration seminars in different regions and areas.

In Japan many top notch organizations and companies started learning

programs medieval time what's more, elderly ladies to enable them to figure
out how to set up and deal with a financial plan, spare frequently, and select
proper monetary instruments for advances and protection. Different projects,
portrayed later, are committed at expecting ladies' money related challenges
in. After retirement that was faced by the elderly and old aged females so as
to prepare them for further living.

Lower salaries and smaller groups of females

Lower salaried females and ladies belonging to smaller groups and young
ladies are the objectives of a vast extent of the projects surveyed, over a
scope of created and creating nations. There are always behaviors and traits
in females that tend to form presumptuous nature to the dangers and risks
involved in cash management. This leads to females backing out their interest
and choices in money related savings and investments. This is because of the
fact that they have to look after the well-being of the entire family and
household expenses. But on the other males generally believe in taking those
risks in the view of getting higher earnings and profits with huge savings and
investments.
Monetary instruction is one segment of some contingent money exchange
(CCT) programs in monetary education not just helps younger females but
also helps females who are mothers to uplift the well-being of themselves and
their families. This not only helps them in attaining the benefits of the program

52
but also gives them a fair amount of understanding with regards to money
management.

Smaller females groups and miniaturized scale business people

Ladies' monetary interest incorporates having the capacity to create
entrepreneurial exercises. Governments and improvement associations have
endeavored to expand ladies' strengthening by enhancing their monetary
education as a way to effectively begin and oversee pay creating exercises.
Different cases of such projects are discovered particularly in creating nations
and rising economies.

Enhancing ladies' money related procedures

As the confirmation introduced above shows, ladies are more averse to utilize
a few kinds of money related items and administrations in comparison with
men even though they give a lot of importance to monetary matter, they show
more awareness to money in a few regions, for example, picking items and
hunting down data and guidance. To enable ladies to deal with their own
particular funds and benefit from financial open doors, different open experts
and non-revenue driven associations have created and actualized monetary
instruction and mindfulness programs for ladies with a specific mean to
enhancing monetary consideration and cultivating suitable utilization of
sparing and credit items. While the concentration in creating nations and
developing economies is for the most part on expanding the utilization of
formal sparing items and credits, organizations in created nation’s
configuration programs. In an analysis to prevent and lower responsibility and
reinforce females allow them to prepare for life after jobs.

Expanding monetary consideration

Different cases of monetary instruction programs address the way that ladies
have a tendency to be less monetarily included than men.

Supporting ladies in making arrangements for retirement

As ladies have a tendency to live more, acquire less, and have more
intermittent working vocations than men, they will probably confront neediness
53
or money related hardship in seniority. This hazard has been opened up in the
US furthermore, in some regions of the nations in European continent with
different programs for annuity plans, bringing about an exchange of duties
identified with retirement arranging from benefits suppliers to people.

Likewise, given ladies' lower monetary learning and certainty, they may
require extra help to avoid money related challenges amid seniority.
Specifically, they should know about dangers, to comprehend the need to put
something aside for maturity, to design painstakingly their retirement and
social insurance consumptions, what's more, to have the capacity to settle on
shrewd venture decisions for their maturity.

Necessity for female entitlement is observed by many government agencies in

a view to explore the degree and reasons for sexual variations which affect
ladies in their old age after they retire from work. In Australia they began to
started elements for savings and investments for life after one retires. They
provided learning and coaching programs for monetary independence of such
female groups for better living standards. Other programs also were created
so as to assure females who are still working and making a living to provide a
secure disposition for money related protection after they retire. Their
provinces and states also have constructed a committed program pointed
outstandingly at guaranteeing that ladies are currently getting ready for their
future monetary security, incorporating into retirement. The program includes
money related education preparing for ladies to enable them to end up plainly
more fiscally secure for the duration. Of their entire life until their death, with
more earnings and prepare for a good life after one retires from work.

Staying away from over-obligation

Ladies' lower money related information and involvement with monetary
issues and items may take off them more presented to undesirable monetary
practices. Different associations have recognized females with over
indulgence in their work related to household and have made efforts to teach
and uplift them in money related matters. In the year 2010 a venture was
started to which contained instruments, positions and the way to look after
54
close to home funds, and additionally course material to be utilized by
gatherings and associations instructing individuals about individual back to
help ladies confronting over indebtedness issues.

Helping ladies picking monetary items properly

The confirmation checked on in the earlier section featured ladies' needs in
connection to item decision, data accumulation, and exhortation chasing.
Reliably with this, few projects recognized by this stock-taking activity
incorporate data chasing or potentially basic leadership about monetary items
buy among the subjects secured.

Effect and adequacy of monetary instruction activities

This segment depicts the primary aftereffects of accessible effect appraisal
assessments of money related instruction program for lady and young ladies.
Moreover, it additionally looks at whether there has been a sex distinction in
the program affect for the few projects focusing on the two men and ladies
which report assessment comes about disaggregated by gender. A
developing number of effect assessment practices demonstrate that very
much outlined projects are effective in raising ladies' money related education
and incorporation. A few monetary training programs focusing on ladies
revealed an effect as far as enhanced money related learning and
dispositions, and in a scope of monetary practices, including cash
administration, charge card utilize and acquiring. Various programs in rising
and creating nations, with a more particular concentrate on sparing conduct
and formal consideration, announced an expansion in incorporation, sparing
and the utilization of other formal monetary items.

All things considered, more endeavors are expected to expand the learning
base on the effect of money related instruction programs. Thorough effect
appraisal activities ought to be done efficiently, and at whatever point
conceivable, results ought to be disaggregated by sexual orientation to permit
program architects and strategy producers to look into sexual variations and
get in more research proofs to improve the program. A susceptible
measurement investigation ought to likewise be joined by subjective research
55
and center gatherings to explore facilitate difference in desires, certainty,
learning inclinations and styles between male and female program members.

Monetary learning and demeanors

As indicated by the assessment reports, different projects enhanced the
money related learning and mentalities of members The money related
instruction preparing for young ladies completed added to expanding the
quantity of members with an affirmative sense for the necessity to banking,
investments and utilizing benefits from them. They also have vast and
enormous benefits which were mentioned by individuals in a survey
conducted for money borrowing at the end of the evaluation performed. This
evaluation also exhibited that sparing dispositions for the most part enhanced
in monetary instruction intercession locale.

Comparably, comes about because of a pilot assessment of the 'Sheltered

and shrewd sparing items for powerless immature young ladies' accounted for
a change in money related learning and states of mind among taking an
interest young ladies. The program assessment included three gatherings of
young ladies: two got the program (especially when there are two MFI bank
accounts), with the one of them as a controlling agent. Females who are
younger were more subject to these effects of accurately reply on monetary
information inquiries than young ladies in the examination gather after the
intercession. Young ladies from both treated gatherings were essentially more
inclined to have a long haul monetary objective contrasted with young ladies
in the correlation gathering.

Monetary conduct
Some monetary instruction programs focusing on ladies detailed an effect in a
scope of money related practices, including cash administration, charge card
utilize and obtaining. The greater part of recipients enhanced their money
related administration abilities (counting money administration, basic
leadership, monetary control of their business exercises), despite the fact that
outcomes were distinctive crosswise over individual target gatherings.

56
Through the span of the program ladies enhanced As compared to the male
population to pay off the bills generated and dependable in terms of their cash
payments. Be that as it may, men made more noteworthy enhancements in
keeping to their financial plan than ladies. Different projects in rising and
creating nations, with a more particular concentrate on sparing conduct and
formal incorporation, detailed an expansion in consideration, sparing and the
utilization of other formal monetary items. Furthermore this program has been
achievable by ladies than men. As time passes by females and males are
both are more likely to make use of managing and directing money from the
bank, where females seem to save up their cash as compared to males in
monetary matters.

In another examination there was confirmed that ladies are more probable
than men to change their (arranged) conduct subsequent to going to a course
on retirement issues. The creator’s utilized information from various overviews
of members in classes offered and assessed the alteration which was seen
after one retires and the kind of saving schemes they used were mentioned
by individuals after they attended the seminar. Outcomes demonstrate that
ladies were more receptive to the class and will probably raise their coveted
retirement age, increment their objective wage substitution objective, and
change their arranged sparing conduct. The assessment report demonstrates
that individuals who went to the money related training course (the
tremendous share were ladies) expanded the quantity of exchanges and the
adjust of their bank account more as for program members who did not get
the preparation.

So also, in another assessment it demonstrated that young ladies going to the

program were altogether more probable than the correlation gathering to have
a financial plan and to have an investment funds design, subsequent to
calculating for maturity, belief, and protection. Additionally, program
individuals were more likely than the relationship for social affair to report that
they had saved over the most recent a half year and that they utilized their
possess investment funds a wellspring of cash to mask one's expenditure and
consumption. Since this was illustrated as a part of how to make use of the
57
legal and authorized finances, and the younger population of females with an
investment account were all the while utilizing casual techniques. The money
related instruction preparing conveyed concentrated on giving young ladies
with a point of view on when obtaining is proper and to know about what the
punishments are if the reimbursement terms of the credit are not met.

Acquiring among youthful learners ascended from standard to end line, with
the principle purpose behind obtaining. For setting up of a business and its
ultimate progress. This was supported by proof in lowering the responses
given by the females that financers were their only source for borrowing
money.

Difficulties and lessons learnt

This area features the fundamental difficulties and lessons got from the
investigation of the contextual analyses furthermore, confirm displayed in past
areas. Furthermore, expanding on the confirmation and encounters. This
offers preparatory direction to help recognize the requirements for money
related instruction of ladies and young ladies in various settings, and to help
the improvement of committed arrangement activities steady with the general
needs for monetary and money related sexual orientation uniformity. A portion
of the difficulties featured by the stock-taking activity are not particular to
programs focusing on ladies/young ladies or to sexual orientation contrasts in
program gathering of people. For example, nations announced issues
concerning the trouble in evolving conduct, trouble of focusing on the program
to the gathering of people, absence of time and interior limits and challenges
in achieving the mentors. Different difficulties are particularly identified with
the reality of focusing on ladies/young ladies, and for the most part need to do
with troubles in achieving ladies and conveying important material. The
primary difficulties include:
• Raising strategy mindfulness about sexual orientation imbalances in
monetary and money related open doors and about sex contrasts in monetary
education as an initial step to enhancing ladies' money related prosperity and
strengthening.

58
• Changing social demeanors that may diminish ladies' monetary autonomy.
The task in Cambodia specified the trouble of changing the irregularity of
ladies' energy in basic leadership, and the weight ladies' face to join get-
togethers (that may suggest significant monetary weights). All the more for the
most part, the audit of elements conceivably influencing sexual orientation
contrasts in monetary education featured the part of social and social
standards in influencing sex disparities in the entrance to monetary and
money related open doors.
• Ladies' mentalities towards cash matters may offer open doors and in the
meantime posture challenges in creating programs for ladies. Ladies seem,
by all accounts, to be mindful of their lower learning and are less certain than
men in their money related information and aptitudes. Subsequently, they
might be more 'open to instruction' and willing to learn with a specific end goal
to enhance their abilities. For example, directing concentration gatherings and
inside and out meetings keeping in mind the end goal to devise a arranging
help to help workers getting ready for retirement; they found that ladies were
more likely than men to state they required more data and instruction
programs. In any case, the way that ladies additionally have all the earmarks
of being less intrigued then men in money related issues may decrease their
inspiration for learning.
• Ladies might be an especially difficult to-achieve gathering, because of
social isolation, or absence of time because of work/social commitments. A
few projects target certain gatherings of ladies, which can make 'enrollment'
especially hard. For example, this was the situation of the program actualized,
where the objective gathering included low salary, more seasoned, single as
well as settler ladies.
• Ladies who are utilized may not have enough time to go to the preparation
since they are frequently occupied with both working also, local/mind
exercises. For instance, input from center gatherings demonstrate that
numerous ladies might want to go to money related instruction preparing yet
had a lot of disagreements with the amount of time required and also saw that
this time was not enough for controlling the money in light of all day work and
the need to mind for youngsters at home. Additionally, a few members in a

59
pilot preparing specified that they would not have the capacity to go to the
course on the off chance that they had not been advertised travel costs and
costs with regards to child care.

Fitting the substance and conveyance strategy to the gathering of

people:
Females are not by any means are an identical assembly and be capable of
finding it difficult to make material that is legitimate for females with different
conditions and points of learning. Another case included that by virtue of
compelled spending it was difficult to convey one thing that would draw in a
wide age extent of females, living different life stages, and with different levels
of specific limit. In view of the experience of different money related instruction
programs for juvenile young ladies, accentuate the need to tweak the
preparation substance and conveyance strategy to be particular to the age,
life-cycle circumstance, and education of learners.

Sex perceptive content:

Ladies venture featured the need to guarantee that sex and advancement
concerns are considered in building up the preparation modules, and that
coaches must be learned in sexual orientation and advancement issues.

Instructing hones:
There is a probability that distinctive learning aptitudes amongst young men
and young ladies may achieve sex contrasts in monetary learning, and
whether particular showing practices ought to be received to address these
distinctions in results. Great showing practices ought to be distinguished with
a specific end goal to guarantee that the two sexes exceed expectations.

Dialect/correspondence:
With respect to all monetary instruction programs, the conveyance of
monetary training and of money related data ought to be focused to the
crowd. Projects tending to ladies should consider that by and large as many
females are not well equipped as they have poor understanding and monetary
skill and also have very less confidence and trust issue in the monetary
60
management as it is done very swiftly by males. It is also vital that money
related training, correspondence, and data diminishes or dispenses with the
utilization of language (while in the meantime staying pertinent and important).

Discovering approaches to give pertinent and fair counsel to ladies:

Women have a tendency to have lower monetary information than men, and
they likewise give off an impression of being more probable than men to
utilize casual wellsprings of monetary counsel and data. It is along these lines
critical to give ladies the chance to acquire money related exhortation that isn't
just impartial and free, yet in addition customized to their particular needs and
level of comprehension. Albeit challenges, many projects additionally
distinguished various great practices and lessons that are particular to money
related instruction programs focusing on ladies or young ladies.

These include:
More extensive approach: Women's money related strengthening ought not
be sought after in confinement, but rather or maybe incorporated in more
extensive methodologies going for enhancing ladies' financial and social
strengthening. Money related training conveyed regarding monetary
items/administrations and other preparing important to ladies (e.g., about
wellbeing, business and occupation preparing, fundamental abilities, and so
on.), can possibly enhance their autonomy in a huge arrangement of spaces
(e.g. access to business and enterprise openings, getting away aggressive
behavior at home, and so forth.). All the more for the most part, this features
self improvement gatherings and turning reserve funds and credit social
orders constitute a significant setting for enhancing ladies' monetary
proficiency and monetary consideration through the joined arrangement of
money related training, access to money related items and benefits, and
tutoring on other important abilities.

Beginning from a youthful age:

The current proof, to be supplemented by the inevitable comes about money
related education evaluation of 15-year-old understudies, recommends that
sexual orientation contrasts in monetary learning emerge as of now from a
61
youthful age. This features the significance of beginning conveying monetary
training at a comparatively younger age, as it is done formally with numerous
affairs and tasks fixing the younger female population. Particularly instructing
monetary training in schools is an approach to enhance money related
education on an impartial premise in the meantime when sexual orientation
parts are being framed.

Learning condition:
Some projects featured the significance of learning in a gathering together
with other ladies, enabling members to feel quieter and to acknowledge they
are not by any means the only one encountering issues.

Role Model:
Other projects likewise utilized female coaches as good examples to construct
certainty among learners. Also, the Camfed activity in Zambia prepared as
coaches young ladies with a comparative foundation to the learners, with a
specific end goal to fortify certainty among members. Embracing tributes of
ladies who have defeated money related and mental snags are role models.

Ladies mentors:
Engaging ladies as coaches can positively affect the coaches themselves (in
programs that have a prepare the-mentors part). For example, the program
run received a companion teacher demonstrate, where various ladies
illustrative of the undertaking's objective populace (low-salary, more
established, unattached and additionally worker ladies) were recognized and
prepared as coaches. This upgraded the initiative aptitudes also, certainty of
the ladies engaged with the conveyance of the money related training
devices. Also, the 'course' preparing model embraced inside the Camfed
venture expanded the certainty and status in their groups of the ladies
required as center coaches and companion teachers, as an aftereffect of the
preparation they got and their part in the venture.

62
 CHAPTER 6
RESULTS AND DISCUSSIONS

In the past history for individual growth, women have been an important
aspect of the history as compared to men. In reality a very high rank with
regards to employment and work performed by women stand to be an
important and major contribution to the overall development of the nation.
Without a doubt, lacking of energetic contribution from the women in
nationalized activities, the communal, the financial or the political
development will depreciate and become sluggish. In contrary and
unfortunately, many women working in the companies and organization are
not taken seriously by their superiors, colleagues, or society at large. Making
a career by the women makes it difficult and tiresome due to family
responsibilities put across their shoulders. By tradition Indian women are seen
as homemakers or someone who is looking after the family but as seen in the
recent year’s good education and adequate knowledge along with a high cost
of living leads them to work and choose careers for them. In Indian society
men are still considered to be the head of the family and a person who earns
money for the well-being of the family. Even though women in India have
been working outside of their homes, yet they still have way ahead to
progress culturally, socially and economically and a mind set to bring about
changes. In the overall thinking of the people living in this social environment.
Generally, there are many cases of partiality when it comes to gender
especially at the stage of recruitment with respect to working women. A lot of
Indian men do not really agree to the fact that women have the capacity to
work shoulder to shoulder along with men in other spheres of industries apart
from few options like clerical, teaching and nursing jobs. A lot many times
women’s capacity and capabilities are miscalculated due to which women
choose not to work or do not apply for high paid jobs even though they are
highly qualified. Women have the duties to effectively manage their multiple
roles in domestic additionally along with their work life. Men typically don't
supply any facilitate within the households work. This makes the lifetime of
working women girls extraordinarily disagreeable.
1
Background Information
While a majority of the ladies still face discrimination and gender bias, from
the previous few decades, the amount of ladies productive in politics,
technology and business etc. is unquestionably on the increase. Society has
started seeing ladies in an exceedingly totally different perspective. They work
as lawyers, nurses, doctors, social staff, teachers, secretaries, managers and
officers etc. There's no profession these days wherever ladies aren't making
their place. However, it's true that working ladies have to be compelled to face
issues by virtue of their sex. For hundreds of years ladies are subjected to
exploitation and torture, physically, sexually and mentally. There are
innumerable challenge and issues faced at home and workplace by them.
What we tend to typically see these days, due to media and journal reports is
that ladies typically face mental stress, molestation, discriminatory practices,
safety and security problems etc at their offices and workplaces. In a
patriarchal society like India, men think of women and girls solely as
homemakers and sexual objects and is usually put through mistreatment and
suffering.

Women in the Workplace:

Women employee who are earning wages or a regular payment are a part of
a contemporary development, one that developed at a similar time because
the growth of paid employment for men; however ladies are challenged by
difference as employees when compared to men. In an Indian society woman
is considered to be a social animal that is kept in captivity, while not given
access to work outside of home or money matters or communication with the
outside world, which is seemingly unfair. Economic, social and political
uplifting of ladies and girls is important for the growth of any society. Working
ladies are essential for the growth of the society, therefore uplifting of ladies
and girls is vital to the method of elevating economic, social, political position
of ladies and girls. By tradition or values ladies are the under-privileged ones
within the society, not enjoying similar rights or standards of living as their
partners do. “Sexual variations are not the core problems and hence we can
still eliminate it. But there are other issues such as intolerances due to color,
class and creed, apart from them there is ageing, environmental adversity,
2
monetary misuse and competitiveness across the globe. There may be many
disparities that the nations need to look forth but sex disparity will always
remain behind.”

Condition and position of ladies are often largely outlined because of the
degree of socio-economic equality and freedom enjoyed by women. Factors
such as economic, social and cultural interplay for strengthening the gender
variations in possession, management and access to land trough inheritance,
wedding or informal networks. Women’s economic position within the home
depends on 3 levels of influence, which are stated here; economic and social
power acquired by women, the socio-economic position of their households
and also the level of support and opportunities within the community.
Women’s economic well-being is typically increased by ladies and girls
working as freelancers for financial gain that causes raised self-respect and
improved conditions of their households and also the overall level of
development in their communities. The gender gap within the possession and
management of property is that the most important contributor to the gender
gap within the economic upbeat, social position and uplifting of ladies and
girls.

Since ages women have been playing very important and crucial roles in
household matters. In today's world women have been recognized for their
positions at offices and work and are able to engage in lot of activities of work
apart from their daily household chores. Creating a society where ladies and
girls can sustain freely with no fear of domination, mistreatment and inequality
is what is required right now to make and create a better future for the
upcoming generations.

3
 CHAPTER 7
SUMMARYAND CONCLUSION

From the data analysis and survey my conclusion would be that we need
stronger policies and frameworks in the empowerment of women. The basic
imperatives that prevent from females to obtain financial administration
haven't been satisfactorily taken care by the own individual self for the past
few years. Sexual variations or sex disparity have generally been disregarded
in political economy investigations, and to provide them equal grounds with
improving measures that are embraced at the miniaturized scale position.
While a great deal was needed and powerful steps, similar to the
advancement of microfinance and cash exchanges, haven't been prepared to
address enough the hidden imperatives in ladies' entrance to and
administration over monetary and cash assets.
Failure to deal with gender-specific constraints
Advance on fairness amongst women and men inside the circulation of key
assets over the previous decade have been horrendously uneven. The sexual
orientation hole in training has been lessened, strikingly at the first and
auxiliary level; however advance has been moderate, with wide provincial
variety. Women are overrepresented in casual and low maintenance work,
and heaps of working women in creating nations are in "powerless" styles of
business, together with unpaid family work or possess account work.
Ladies' fixation in "non-standard" styles of work is in part a reaction to the
requirements of occupation isolation and unequal obligation regarding unpaid
household and care work. Their fixation in exercises that are less very much
remunerated is demonstrative of their asset impoverishment and absence of
transaction control, still on the grounds that the segregation they look inside
the more extensive economy.

While there has been a continuous however perceptibly declined in every

even and vertical sexual orientation detachment in a few territories, there's
critical nation and local level variety. Comes back to work stay commonly
bring down for women contrasted and men, with industrious wage holes by
and large components of the planet. Notwithstanding ladies' expanded
1
support inside the work showcase, there has been no vital increment inside
the sharing of unpaid work amongst women and men.

Females’ monetary and politics management both are connected

A strong point that was emphasized by individuals participating in the survey
was about ladies entitlement. By the information from United Nations agency
showed that half of the globe's people stated that ladies monetary education
was crucial including people from different nations in the fields of politics,
coaching and communal parts. Training and coaching females was a
necessity to uplift and access legitimate procedures and virtues.

There is still differentiation seen among females in terms of provisions to

buying a house, property, assets and other useful things required by them.
There is still differentiation that is observed in legitimate practices, along with
disparity in gender between males and females. There are other
discriminations that also seen in terms of communal protection against lower
earnings and savings in females.

Administrative change ought to be among help and instructing for every single
key partner to affirm full usage and evolving concepts. Perceiving and giving
them defensive existing public rights, and expanding on dynamic legitimate
standards is also essential in order to affirm provisions to the underprivileged
females for beneficial assets.

Numerous underprivileged males and females are rejected from formal cash
administrations remarkably in villages and streets where the poor families
reside. Females are banished provisions to attributable laws, administrative,
customary and obstacles in intellectual process. With the help of micro
financing associations are reaching to the underprivileged ladies, but can
reach exclusively a small amount of those who require cash administrations.

Being a leader helps get excellent results

Members who participated in the research work indicated the necessity for
governments to recognize females as important agents for supporting of
2
nationalized monetary development and diminishing poverty. In addition, the
necessity to include male population in sexual disparity endeavors was
featured. Organizing and ordering the sexual variation plan in every service of
province, settling place for a substantiating lawful structure and assortment of
data that was gathered and broken down independently on male and female
proportion were featured as events which were showed by the research
results.

In a few nations, monetary change confined region arrangement of community

insurance to barely lay out wellbeing nets for the case of emergencies.
Numerous women are in unstable sorts of work who are eliminated from
business related open arrangement and cannot manage the cost of payment
for private arrangement. This generates key frangibility in development and
for people influenced by medical issue, insufficiency and position and
distinctive living emergencies. Testing of communal safety measures gives
evidence that very much planned, expansive community insurance offer
points of interest that rise above emergency adapting capacities.

Disproportionate provisions and administration over assets to females, and

their proceeded duty regarding unresolved positions, abridge their efficiency
and bound their ability to react to new financial chances and take an interest
completely and successfully to live life freely. While females are not exposed
to free life in a restricted community, they keep on being extensively not
represented adequately in many zones, particularly in monetary leadership.
There's a developing collection of confirmation that young females convey
imperative perspectives and needs, and an assorted variety of aptitudes and
skills that settles on approach and fiscal reserve for leadership in addition to
the requirements and needs of all groups.

Methodical and organized endeavors are required to elevate ladies'

participation in monetary education and leadership in considered regions and
at the absolute best levels. Females not being present in significant
leadership discussions that frame the assignment of esteemed assets and
chances bring about sexual distinction. The common effect of the inability to
3
create and rely upon the important investments of female’s monetary process
and improvement is dangerous.

Financial development speculations continuously recognize that interest in

personnel sources might be a fundamental issue. Critical thoughtfulness
regarding shutting gaps in sexual variations in essential and training is
required, and therefore there is a profitable rise in the present workforce
situation. In a time of quick innovative, statistic and financial adjustment,
workers might want every fundamental and moveable aptitudes to expand
business decisions in an extremely diverge parts. Numerous females have
particular wants owing to the irregular idea of their work and their power in
jobs such as work from home or freelancing. Very surprising mixture of
building skills and training is required, and additionally training and preparing
while at work, were given by performing artists, and microfinance
associations, exchange unification and NGOs. Fresh and ingenious projects
using information and designing should be produced to broaden systems
administration and trade of information.

Changes in monetary fields can give rise to considerable measure of impartial

development ways. Perfect money management will downsize the instability
of short-run streams and cease the monetary escape. This will give rise to
workers with good ability and skills, especially female workers, to cut cost for
higher wages in accordance with increasing efficiency. Money related
segment changes can even grow fiscal attainment to those workers, farmers
and business visionaries running smaller companies, particularly females, by
the privatization of managing an account division owing to apparent high
dealings costs. National banks will advance expansive based development
through improvement banks and credit appropriations to the parts where it is
necessary, and additionally to female business person. Bigger mixed variety
of money related administration providers and a more extensive change of
administrations as well as the accessibility in addition to funds, protection,
money exchanges and reassuring administrations, should be open to females
in comparison to males. The structure orders, goals and institutional courses
of action of every single fiscal provider should have an exact sense of duty
4
regarding sexual uniformity to affirm that young and growing females
completely enjoy the development of administrations.

Sexual variations improvement cause has added to expanding sexual fairness

and females’ administration. The primary concentration of such push should,
in any case, be widened on the far side community areas to a ton of gainful
parts to affirm females' increased access to and administration over financial
and fiscal assets. The issues that are principle center of the new guide
viability plan could cause lessened financing for sexual equity strategies and
projects owing to the fundamental concentration to provide aid in setting up
monetary quota. There's a prerequisite for increased recognition of the work
of respective and multilateral assets, exceptionally inside the setting of the
money related emergency, and furthermore the advancement of ability in
contributing organizations to incorporate sexual equity.

The association of young ladies, and in addition in asset client groups,

microfinance groups, help groups, exchange unions and elective assortments
of work associations, will impressively upgrade ladies' entrance to and
administer over financial and fiscal assets. Across the globe there are regions
where such sorting out has enabled women to state their privileges,
manipulate strategy, consider Governments answerable and acknowledge
aggregate answers for their problems. Female associations and systems got
the chance to be perceived and supported as basic on-screen characters in
alteration forms for asset monetary process and enhancement.
The innovative monetary product and services designed by the general public
sector banks in response to the sex-disaggregated knowledge on access to
monetary services has detached monetary services in step with the
requirements of ladies purchasers. In doing therefore, they need challenged
the discriminatory norms that have historically restricted girls access to
finance.
The gender-sensitive monetary product designed by the banks self-addressed
the gender discriminations of the formal monetary market by assessing the
context of various classes of ladies borrowers and choosing the right
monetary product that might meet their specific desires. To do so, banks had
5
to adopt an unconventional strategy: relax typical rules concerning interest
rates, collateral needs and loan amounts with compensation schedule. Once
a theme was known and developed in alignment with the requirements of
ladies borrowers, the credit delivered was closely monitored to forestall any
lapses. If this momentum is maintained, a lot of innovative monetary product
can enter the monetary marketplace for occupation to the requirements of a
lot of girls who haven't accessed finance from banks before.

6
 7.1
SUGGESTIONS AND RECOMMENDATIONS

A Systematic Investment Plan or SIP is a savvy and trouble free plans for
putting cash in common subsidizes. SIP enables you to contribute a specific
pre-decided sum at a general interim (week after week, month to month,
every 3 or 4 months, and so on.). A SIP is an arranged method in a direction
of ventures and encourages you instill the propensity for saving and
constructing capital and possessions for your upcoming life.

The way SIP works

SIP is a simple and supple saving arrangement. The amount of money is
directly debited from your bank account and put into this special arrangement
system. Based on the amount put into by you, a number of units are allocated
depending on the market price for that particular day. This market price is
called as net asset value or NAV

Each time there is an investment made by you, more units of this method are
bought at the rates given in the market and appended to you account.
Therefore financial specialists tend to purchase these units at varied prices
and gain more from Rupee-Cost Averaging and the Power of Compounding.

Instability in markets put away most financial specialists to stay dubious about
the best time to contribute and make efforts to 'time' their entrance into the
market. Rupee-cost averaging enables you to quit the speculating
competition. As you are a usual financial specialist who keeps investing
money, your cash brings more units when the cost is low and minor units
when the cost is high. Amid an unpredictable period, it might enable you to
accomplish a lower price for every unit.

How compounding helps in growing your money

Albert Einstein once said, "Compound interest is the eighth wonder of the
world. He, who understands it, earns it... he who doesn't... pay it." The rule for
compounding is simple - the sooner you start investing, the more time your
7
money has to grow. There is a very famous quote by Albert Einstein on
compounding which says “"Compound interest is the eighth wonder of the
world. He, who understands it, earns it... he who doesn't... pay it." It very
clearly indicates that compounding process is easy and if you start investing
early, there will more growth in money with more time spent.

It is your 40th birthday and you plan to invest sum rupees of 10000 every
month, after 20 years you would have earned a sum amount of Rs. 24 lakhs.
Consider that the investment grows by 7% on an average every year, the total
amount collected will be Rs. 52.4 lakhs and this will be received by you at the
age of 60. If you did start investing 10 years earlier to your 40th birthday, then
the sum amount of Rs 10000 every month would have summed up to Rs. 30
lakhs in a gap of 30 years. Now consider the 7% annual growth again, it
would have added up to Rs 1.22 cr by the age of 60, which is clearly twice the
amount you would receive if you start investing after 10 years.

With the help of SIP, you can put your money in an organized and
controlled manner. Since the wages are paid every month SIP
arrangement helps you with to provide money every month.

In an SIP, a predetermined sum of money will be deducted automatically

from account in the bank on a particular date every month. The money
gets automatically invested into one or more mutual funds of your choice.
If you are new in the field of investment, it is natural for you to feel
confused initially. You may find it difficult to decide which mutual fund you
should invest in. In that case, it is best to ask the associated bank
executive to provide you with the catalog of all existing contingency fund
schemes and their profits. In fact you could consult with the associated
bank executive to advise on the best scheme available. This piece of data
is also accessible through internet and you could decide on your own to
choose a best contingency fund scheme.

8
With a basic search on Internet for schemes, you will be able to look at all
schemes available in India and past data with their profits. Also make
sure that these schemes fulfill the standards given below:

• The contingency fund is a collection of huge value which is around 5

billion. Obviously, there are exceptional shared assets that don't have 5
billion in resources, however if you are new to this then you need to follow
a principle related to contingency fund.
• If the term is for no less than 5 years it will incur you more profits in
terms of money.
• Always choose a reputed fund house. There are several fund families
or fund houses, if you are aware and have understanding of these reputed
fund houses it will be easier to choose a good scheme.
• SIP schemes need to be synchronized with the bank. But if this is not
then you have to get in touch with the associated bank executive and he
will be able to assist you.

How SIP works

SIP works in a systematic way allowing you to invest on a monthly basis.
For instance, let’s say your monthly salary is Rs. 60,000/- and you will
have to reserve 10 percent of your earnings every month for SIP. A
detailed investigation on the largest mutual funds (contingency fund) in
the country will help you see how a number of funds have constantly
surpassed the competition in the marketplace for so many years. For
instance SBI blue Chip Fund. in India it has been one of the substantial
contingency fund which was launched in June 2006. The fund has over
Rs. 1000 Cr. in assets and this was achieved within a period of 10 years.

If you have started an SIP plan in year 2006 June of an amount of Rs.
6000 it will be deducted directly from the bank account from your fund
every month. The amount will be put directly into the fund on a monthly
basis. This is exactly how we take care of the two basic tenets of
investments as mentioned above- uniformity and control. The amount of
Rs. 6000 is directly deducted from the bank account and transferred to

9
SIP every 30 days cycle, the consistency of investment is maintained.
This also ensures a disciplined investment as the mutual fund company
invests the money representing you.

The major advantage of SIP investment is the controls of the discounted

rate on Rs. 6000/- that you reserve every month, collects over the years
to turn into a huge amount of money. For example, if you have started
investing from June 2006, then till March 2015, the number of times Rs.
6000 has been auto-deducted from your account is 106. So, total Rs.
636,000/- (Rs. 6000 x 106) has been auto-debited from your account and
got invested in the Capital market.

You will get something close to 17% as the overall return (annualized
compounded return). 1,40,81,09/- So, your investment gets doubled in
value. Better yet, the Sensex that gauges the performance of the market
goes high in terms of gain which is 188 percent in the time period of 1248
days of investment. However, the contingency fund goes high in gain, as
high as 300 percent. In general, a good mutual fund always and
consistently outperforms the market.

Start about
To benefit from SIP it is recommended to start this scheme as soon as
possible. If you are not an expert in market timing, no need to worry
because, SIP takes care all of your investment needs. Just contact the
associated bank executive and inform him that you want to start with an
SIP arrangement and will be able to help you. You can also buy mutual
funds online. There are a number of mutual fund companies available. So
do a little research and start investing in SIP as early as possible.

Where to Invest
If you are looking for the best SIP plan in India, check the past few years’
performances of the funds to choose the best one. Based on our research
we have shortlisted five best SIP Plans in India.

10
Let’s have a look in the table below:

Table 7.2.1: Systematic Investment Plan

Birla SL Frontline Equity Fund (G)
Birla SL Frontline Equity Fund is another open-ended growth scheme. It is
best for people whose investment objective requires, rise in wealth for a
longer period of time in which a the amount of monetary assets by the
monetary institution of a 100% equity-linked portfolio aims. That has variety of
divisions and fields as listed in the standards of share markets.
SBI Blue Chip Fund-Reg (G)
SBI Blue Chip fund – Reg (G) is an open-ended growth fund in which the
minimum amount required for investment is Rs.5000. The fund is the best for
investors with long-term goal in mind. The fund invests in a variety of share
and stocks in different organizations with marketplace monetization as

11
compared to the lowest marketplace monetized shares listed in the share
market standards. The assets are predominantly large-cap. The absolute
return on Investment of this fund has been 27.7%. Since, it is an equity-linked
fund; the investment associated risk is quite high in it.
These two schemes are considered the best SIPs in India because of the very
high rate of return in the past few years. So, if you want to create wealth for
future, investing in a SIP would be the best bet for you.

Advantages of using SIP

Controlled Cutback - Control is one of the important factors for cost cutback
schemes. Contributing with the help of SIP, there is a way to cost cutback
every time. Each of these cutbacks is a way to achieving the aim of money
related items.
Adaptability – There is no obligation while going ahead with the SIP
schemes over a longer period of time. Monetary specialists can stop the
arrangement whenever required. An individual can also expand and diminish
the amount being contributed.
Profits made over longer period of time – While there is strength of
discounted rate and standard for the money can possibly convey appealing
profits for a longer period of time.
Comfort - SIP is a saving and a trouble free method. One can provide a bank
statement of accounts to show the funds that can be transferred directly into
SIP.
SIP has turned out to be a perfect method of saving by trading monetary
specialists who don't have the assets to seek after dynamic ventures.
Methodical Provisions in a Contingency Fund is the response to keeping the
entanglements of shares and stocks and yet getting a charge out of the
exceptional profits. This SIP Calculator will demonstrate to you how little
ventures done at general interims can give more profits over a stretch of time.
WOMEN AND INVESTING
CUTBACKS IN EARNINGS AFTER WEDDING
Many of the females start their work life mostly after being married as one of
the monetary purpose. At this period they usually start investing their saved
money and utilization. Even though parents look after your expenses for
12
marriage, an individual also would like to save up for it. Therefore it will lead
an individual for cutbacks in earnings from the very beginning of their work
life. Monetary saving transforms over a period of time along with
transformations in situations for instance bequest estate, wedding, pregnancy,
buying a property (a home or land) along with occupational position.
Therefore an individual requires checking the possibilities of these
transformations.

CHECK PRIORITY
An individual must take care of the expenses required just after marriage in
order to keep away from monetary liabilities. Ensure that all payments such as
loans, which are to be paid, are already taken care of. One may carry on the
payments of their schooling after marriage also but one requires preparing
before hand for the upcoming expenditures. An individual must try not to apply
finance for marriage.

INDIVIDUAL OR COMBINED
It is a discrete conscious decision of the married women to decide whether
she wants to continue with her personal account which she owns or does she
want to open a new account with her spouse. A lot of females have to do
identity transformation after marriage hence it is advisable to carry on with the
same bank account for some time. This will help them with the chaos and
trouble to remaining payment to be made.

MONETARY MANAGEMENT
If an individual has planned for their marriage after 3 years, it is suggested
that they shift their savings with a low and unpredictable monetary liabilities. A
similar case will be suggested for your parents’ savings for your marriage.
Furthermore you can go on with the savings in communal investment money,
stocks, bills and additional unchanging installment. Also try to exchange only
that amount of money of the one’s advancing appreciation. Once you receive
this appreciated amount transfer it into unchangeable installment account. If
you have just decided to get married then try to make a choice between the
best plans.
13
SUMMARY
You and your spouse can both decide the total household expenditures.
Ensure you have honestly mentioned about your earnings and prior monetary
commitments to plan these expenditures.

CUTBACK EARNINGS FOR KIDS WELFARE

Planning and protection for the welfare of your kids also is an important
aspect of monetary cutbacks. It is not only for their growth but also for their
schooling and wedding purposes. Many of the parents plan for their kid’s
welfare far more lately than required and are dependent on undeveloped
arrangements. Therefore it is advisable to prepare early with monetary
investments to gain much earlier profits and advantages. Below are few points
that can help you in future.

EVALUATION
To save and make the right investments for future planning of the kids’
welfare in terms of money it is essential that you estimate the exact amount
required. Prioritizing the investments in share markets will help in getting
better profits than any other monetary products for longer period of time.
Taking a look at this instance on marriage costs which is 25 lakhs till date and
the cost may increase to 70 lakhs after 21 years, which indicates that there is
a rise by 5% in the total cost. By evaluating the cutbacks for every month in
shares markets will give us a profit of 12% in the next 21 years. With the help
of this we can evaluate or estimate the cost incurred for their schooling as
well.
THE CORRECT COMBINATION
Especially when we want to start preparing for the money related plans we
would like to put money into shares that will incur us more profits and are
more reliable. Such investments in share markets will always provide with
more profits if there is a downfall in the marketplace. If there is no adequate
understanding and knowledge in this instance then there will be more dangers
which an individual may come across. One can check the wide range of
financial products so that you can make most of the profits and control the
dangers involved in this. In such a case you could select a good institution

14
which also has good reputation in the same. Select multiple investments
across different borders and windows so allow a good combination. Also you
can create a governmental investment scheme for your kid and secure his
future for the upcoming expenses in his life.
THE TYPES OF CHOICES
It is very necessary that you make the right choice when choosing investment
schemes for your kid’s future. To make investments for a longer period of time
we need to check that range of monetary services available in the market so
as to choose the appropriate one, since these services are created and
managed by diverse institutions, to suit variations in the financial market and
various profits that it will incur. Therefore it is significant we observe the
variations in the market, its accomplishments and fulfillments and also the
policies attached to it. It is will advisable not to hold on to any particular
monetary services.
THE METHODS USED
Once you choose the appropriate investment scheme, it is significant that you
follow an organized method. A systematic Investment Plans (SIP) scheme
allows you to put in money through fixed contribution in a periodic manner
(like monthly basis) instead of putting in large amount at a single instance.
This will allow an individual to pay smaller flexible sum amount every month
who cannot contribute huge amount at one go.

CARING FOR PARENTS

Parents today, typically, prefer to live independently rather than live off their
children’s earnings. But situations may arise where the child may have to
financially provide for them. While that may not affect the child’s standard of
living in the present, the rising inflation could put a strain on the pocket later.
As such, to either provide for the parents or supplement their income, one
needs to do a bit of financial planning.

TERM INSURANCE
Your parents typically got rid of the liabilities before they got retired. They
therefore have no need to buy fresh life policies or continue with any such
policies including the term plans. That’s how they can save up on the

15
premium outlay of money. But if they think they need to have liabilities and
want to make sure that their partner or spouse who is alive remains financially
independent. In this case they would require continuing with the policies,
especially term plans. If children have dependent parents it will increase the
coverage.

MEDICAL NEEDS
In old age parents have a fixed income as pension and with the rise of
medical costs it affects their standard of living. Apart from that any critical
illness can finish their savings. Therefore it is wise to include your parent’s
health insurance in the ones provided by your employers. If required have a
separate health cover with no sub-limits and a lifetime renewability with the
help of a senior citizen health plan. This will ensure lower premiums
compared to individual covers. Also have a critical illness cover in place. In
case your parents are senior citizens it will be 20,000 for parents health cover
otherwise one can claim up to 15000 towards payments for the health cover.
EMERGENCY FUNDING
Senior citizens require easy access to funds, mostly to meet the medical
emergencies. Depending on the needs, a collection of six to few periods in a
bank fixed deposit (FD) with some part in a savings account. Liquid and debts
also come in handy.

GIFTING
Children can gift money to parents without attracting gift tax. One can open a
bank FD with the parent as a joint holder and then choose the monthly or
quarterly interest option so that the parents’ regular income needs are duly
met. The child may even become the nominee in the fixed deposit. As this
joint FD is a gift to the parent, the interest earned on it will not be added to the
child’s income.

EXTENDING WAGES
Every individual should make sure that they have to plan for their
superannuation and not just till the work life. It’s an added responsibility of
every child to plan for the safety of their parents. To ensure that inflation
16
doesn’t eat into their post-retirement funds, ensure that a part of their earning
is already been put in some or the other superannuation plans.

CONCLUSION
Certain neurological ailments such as Alzheimer’s and Parkinson’s often
affect the aged. As these are progressive diseases, the functioning
capabilities continue to deteriorate with the passage of time. As such, it is
important to ensure that legal matters are in order, including the setting up of
a Power of Attorney and a Will for a smoother transition.

MAKING DO WITH LESS

It’s quite a task in today’s world to make do with just one person’s income and
also enjoy life while at it. Therefore, to make both ends meet it has become
imperative that both spouses work to manage expenses, meeting future goals
and chasing your dreams thus become easier. However, the going becomes
difficult when one of you discontinues work to, such as women to take care of
babies or looking after parents.

FORESTALL
We should not leave our work or job / business and if certain scenario arises
we should have planned for it as well. Before giving up an income, prepare a
time off quantity, especially when expenses and goals are being shared. Plan
for cash flows to meet at least the next six months’ expenses. Importantly, do
not depend or dip into your existing emergency funds made to meet exigency
situations.
CHALLENGES
Meeting the existing shared commitments, such as home loan installments, is
crucial. To deal with situations such as this, you might want to either plan well
ahead to prepay a lump sum towards your home loan (prepayment brings
down loan tenure and the principal amount), or drastically reduce your
expenses to make way for installments. With the burden now on one of the
earners, make sure you bring down monthly expenses-if there are personal
loans to be serviced, try to prepay them too due to their higher interest rate
burden plan.
17
PROTECTION FIRST
Having all family members covered with health insurance will have half the
trouble dealt with. You must know that if there is a break in the job, the group
health coverage gets stopped. For maternity benefits, however, the husband’s
group coverage might still be used when wife gets hospitalized. It is always
better to have individual health policies to be on the safer side. With one
single earner and all other family members depending financially on you,
consider reviewing your life insurance-increase your life cover through a pure
term insurance
SAVINGS
Reallocate your household expenditure. For future savings, we have to find
out what will be our expenditures at old age. For this, you need to get a good
grip over your current expenses. You might have to reduce some of your
discretionary expenses on white-goods, outings and so on. In this case, try
minimizing your expenses in day to day life. We cannot minimize the basic
amenities are they are the needs of life but at least we try sacrificing some
extra expenses which are not dire needs and wants of good lifestyle.
HAVE A VISION
We cannot ignore our future. We should first plan for our superannuation and
old age and then also plan for our kids education and well been. See if
existing systematic investment plans (SIP) in mutual funds can be continued.
Provision for other commitments such as insurance premiums has to be
made. Contribution to Public Provident Fund (PPF) may be restricted as it can
be anywhere between `500 and `1 lakh a year. Continue with investments
earmarked for each goal without breaking or dipping into the funds. Future
commitments should be taken after a short gap once you get used to the new
income situation.
CONCLUSION
For most it will be going through phases of uncertainty when moving from one
multiple salaries to a single earning salary. This is a difficult situation. We
have to plan for all these scenarios. We have to leave all extra activities which
are not contributing to the direct comfort and need of life but are simple add-
on in life which can be avoided.
18
MAKING A FRESH START
For every female, there is a general advice, never give up on all your savings
as soon as you are married. Keep some saving for emergencies? In today’s
world, it is seen that separations are the major cause for insecurity for every
female. They should always plan for themselves and make sure that they are
not dependent on anyone, not even on their spouse. Also, sometimes females
may need some funds for their own expenses as they would not be given by
their spouse or families, thus they have to plan in advance for it.

PLAN FOR UNFORTUNE

Insurance in today’s world is becoming very important. Life is absolutely
uncertain in a fast life in all metro cities. If a female is working women then
she should find her liabilities and also her expenses per month. Also try to
gauge who are the dependents, it can be their parents and then plan for the
amount of sum insured that they need. This will at least plan for unfortunates
in any worst case scenarios. Females should not have nomination of their
spouse immediately after their marriage but should have their parents as
nominee. Once, she starts trusting her spouse completely that is when, she
should transfer the nomination.
FIXED SOURCES OF EARNING
This is difficult ask for females as they have to leave their routine life after
marriage and start all over again. The culture, the structure of family, the way
they leave, even the place of work and stay might change. Females who are
in existing jobs are sometimes even forced to find new jobs and reinvent the
wheels to explore for their career. It is sometimes difficult for them but needs
to find new job offers as their existence has changed. Few females also find it
difficult due to cultural shift as their identity – their name is also changed.
They sometime even struggle to find their own identity and state in the society
and at home.
PLAN CHILDREN FORTUNE
After marriage, female’s life is more focused towards its children, family and
spouse. Females should ideally plan for them primarily and then their kids. It
is a responsibility of a mother to plan for their primary, secondary and higher
education. By counseling the children and understanding what and where his
19
future is, an approximation and planning is necessary to understand how
much funds are required for the children future. Based on which, females
should divert certain portion of her earning into a safe box or bonds for the
future of her kids. This will make the future of the kids safe and certain. Well
planning is the key for the success of the children’s fortune. If the mother is a
single woman who is taking care of the child in this case, it is an added
responsibility as she is the only person who will plan for the children. Females
have to be extra cautious and should also plan for their basic and day to day
requirements by planning for the insurance which will take care of the kids in
her absence.
SUPERANNUATION STRATEGY
Ideally, most of the employer’s plan for their workers but in case, if not then
the employee has to plan for its own. Females should decide the portion of
the earning will go to funds of the government as this are regulated and safe.
But also the returns are minimal. Additionally planning for the private schemes
where she can plan ideally for superannuation will help them to think wisely
about the superannuation.
HOUSING INVESTMENTS
House is a dream of every individual and especially for each female. Females
generally need their own space to plan and live. For their welfare and children
future, each female should plan for her own house. Part of her savings should
be planned for housing investments. If planning with spouse, makes sure that
he name is present in the housing papers and legalities and that is her hard
earned share.
THE DOUBLE INCOME EDGE
These days, it is a rarity in the metros and, to a great extent, in the smaller
towns in India, to find young couples or families with a single breadwinner. In
these times of rising inflation, a family with both partners working always has
a greater economic edge than one with a single earner. The fact that working
partners also share household responsibilities only adds to the comfort level.

HOLDING BACK
True, couples with dual income are financially better placed than those with a
single income, but financial planning is equally important for them. If things
20
are not planned, they could lose the advantage over single income families.
So, before going on that long vacation, or buying that rock-sized solitaire, plan
your savings.
SPEED BREAKERS
Attitudes and perceptions towards money, savings and investments differ
across individuals. Thus, one partner may prefer to live life king size, while the
other may want to save first and then spend. Besides, sociological
developments could make some yearn for financial independence more than
the other. Spouses need to have better understanding of each other to
overcome these differences. The essence is to work towards common goals.
THE UNDERSTANDING
Financial responsibilities should be distributed in such a manner so that
individual expenses, such as those on clothes and accessories,
superannuation and dependent planning are well taken care of. That said both
spouses should try to maintain individual financial independence at all costs.
THE FIRST STEP
Having an emergency fund always helps. This could either be in the form of a
savings account, or short-term or liquid mutual funds (MFs) which can be
accessed at short notice. Both spouses can maintain separate bank accounts.
However, they should have separate savings accounts earmarked for
emergency needs.
PROTECTION
Even before one starts saving, it is important to be adequately covered for
health insurance. For younger families, a family floater health plan works well.
Where both partners are working, individual life covers are even better. This
ensures that in the event of premature demise of one partner, the surviving
spouse is able to maintain the lifestyle. The person with higher income should
always buy insurance so that the family can survive even when the higher
income is no longer available. Both working spouses should plan things in
such a manner that if either of them dies, the surviving partner receives
proceeds which can generate at least 70 per cent of the current total living
expenses.
INVESTMENTS

21
The basic rule to follow is income minus savings. What’s left is to be used for
non-discretionary household expenses. That said, both partners should
identify their short- and medium-term goals and save accordingly. Long-term
savings, especially in tax savings investments, should be linked to long-term
goals. Each spouse can earmark his or her savings to a specific goal. Buying
a house jointly will help both of them in claiming tax benefits. Other things,
such as keeping proper nominations in investments, holding deposits in ‘either
or survivor’ mode, and planning retirement savings keeping in mind the higher
life expectancy of women, is common for both single income and double
income families.
CONCLUSION
Keeping the money management transparent will avoid frictions at a later
date. All said and done, both partners should strive to balance their work life
with family liabilities.
YOU TAKE THE WHEEL
There is a remedy for everything except death. As difficult as it is for the
surviving partner to get on with life after the death of one’s spouse, the truth
is, life must go on. So to meet the needs of life, the bereaved partner has to,
amid all the grief and pain, attend to the money matters. Here’s what a widow
or widower could do to manage money after the death of his or her spouse.

FIRST THINGS FIRST

Acquiring a death certificate, reviewing the departed’s Will, tracking his debts
or credits, listing joint assets and keeping a tab on the cash flow can be
traumatic for someone trying to cope with a huge emotional loss. But these
should be taken care of at the earliest.
STAKING A CLAIM
A Will is the final word on inheritance related issues. If there is no Will, a
succession certificate is vital. A woman needs to apply for a succession
certificate from a civil court governing the area where the deceased resided.
This is critical, as Indian succession laws allow various relatives to stake claim
to the deceased person’s assets. Before issuing the certificate, the court
invites objections from other legal heirs. If there are no claims within 45 days,
the certificate is issued right away. Else, the process can take time. To stake
22
a claim, the wife should have the death certificate and the Will or a succession
certificate. To claim insurance money, the insurance company needs to be
informed first. The insurer, on being intimated, initiates an enquiry on the
cause of the death.
MANAGING MONEY
Financial planning must be revised on the death of spouse. Take stock of
current assets, including insurance claims, while planning future goals.
Prudent handling of the insurance amount should be the top priority. The
corpus should be allocated to various investments and income-generating
instruments to take care of your current and future needs.
CREATING REGULAR INCOME
Besides tapping into the provident fund and gratuity of the deceased spouse,
manage your funds judiciously to ensure regular annuities. There are many
products that help create regular income streams, such as monthly income
schemes, fixed deposits with monthly income options, or insurance plans with
regular cash-back options.
DEALING WITH TERM DEPOSITS
As a term deposit nominee, you can seek premature withdrawal by presenting
the requisite documents, including the death certificate, and a photo identity.
However, the process can be cumbersome if you are not a registered
nominee. In that case you will have to submit documents to prove your legal
authority.
HANDLING FUTURE CREDIT DUES
For payments receivable in the name of the deceased, the Reserve Bank of
India has two approved mechanisms in place. According to the first process,
as a nominee the daughter or wife of the deceased person will have to
approach the branch where the account is existing. If it is a joint account then
it has fewer complexities but if it is an individual account of deceased, then
there are few processes. If the name of the female is present in the
nomination, the process is simple, just make some legal papers for
declaration and sign new form and the bank will issue the cheque on the
female’s name. If in case, the nomination was not signed, there can be legal
issue for the bank and thus, they would ask for legal heir no objection may
that be children, other siblings, etc. Once, a no objection is received, the
23
amount is given in form of cheque to the nominee. It is also advisable to keep
the deceased’s account alive for a while to avoid any delay in further
payments may be from employer of the deceased or any insurance claim.
CONCLUSION
The absence of a Will can lead to delays in transferring assets to the spouse.
To avoid this, a couple should work out the necessary details in advance.
Also, ensure bank accounts have nominees. You should also reorient your
portfolio to new realities. Financial planning can go a long way in helping you
attain your goals.

24
 7.2
FURTHER STUDY AND FUTURE RESEARCH

My study can be further used to develop financial education and literacy

program for girls at schools and colleges by government. This study is purely
based on initiatives that government could take to protect the rights of women
at very grass root level. The data provided here is based on fictitious data and
has no relevance to any other research work.

Financial skill is powerfully and completely related to coming up with, and

therefore the results square measure statistically important at standard levels.
The one's World Health Organization give correct answers to the monetary
skill queries square measure a lot of probably to be planners. Above all,
people who perceive risk diversification square measure rather more probably
to set up.

The further topic of research can be

study about various cultures in the societies which impact the financial
decisions of females
Studying options of investments in details for rural females and urban
females
What are the factors that should be considered while investing the hard
earned money?
What are the DO’s and DO NOT’s of the study which will help the females
to take a wise decision?
What is the measure that government should take to help educate the
women on financial awareness and also to literate them on investment
options?
How banking institutions should aid the governmental schemes to the local
public?
What special provisions should be planned for the welfare of women
financial enforcement?

25
 How will the advertisement affect the financial investments in females in
rural and urban cities? What should be the measure to promote investment
options for females?
How does a financial investment from women sector affect the economy?

26
 7.3
LIMITATIONS OF STUDY

1. Study will be restricted to Mumbai metropolitan City only.

2. Study will be restricted to age group 25 to 60 years.

3. Study will be restricted on women working in Public Sector, Private Sector,

and Government sector only.

4. Study will be restricted to self-generated income only.

5. Since working women is separate legal entity, hence family income will not
be considered as her income.

27
 7.4
CONTRIBUTION OF THE STUDY

In this research work the major contribution to the study is to provide insights
on the monetary literacy and knowledge of working women in Mumbai. The
number of challenges faced by working women is listed in the research work.
The contemporary research helps us to get an understanding on the adoption
of various policies and initiatives taken by governmental and non-
governmental agencies and institutions in empowering women towards
achieving this. Yet there is a gap that still persists as it is practically not
possible to reach out to all of them. My work research may contribute to act as
a baseline for future study context on how we can reach out to more women
and provide the financial literacy.
In the academic point of view, this work of research provides data that can be
analyzed for providing information to other students to prepare strategies for
development and empowerment of women. With the help of statistics
provided in my research work government and other institutions can refine
their policies and strategies to influence the population of women in both
urban and rural areas. There are gender issues that can be still seen which
needs to be looked upon and given more attention.
Also this work of research provides the factors which can be further used for
decisive methods of adoptions of training and empowering women in India.
The results and findings in this research work will help the women in both
urban and rural areas to with training and policy for their financial growth and
development. Also the findings will help working women, housewives and
business women that will further help them in inculcating values of saving
money and investing them in the right place. This governs the understanding
of financial decision making. Furthermore it will contribute to internationally
adopting these values and understanding to embrace investment plans such
as mutual funds, systematic investment strategies and packages that are
have propaganda for the betterment of females.

Theoretical Implications:

28
With the help of the finding and observations in the literature review used in
this research work, it shows that many women still face gender discrimination
and hence are not able to get equal rights as men. This resulted in many
organizations and companies developing roles and jobs that are more women
centric and they can enjoy equal rights as men with a good pay scale. This
research work also has contemplated certain factors which were asked to the
interviewees to gather information on their understanding and knowledge
about savings and investments. By doing this other factors such as their role
in decision making at home and dependency on family and friends was
observed. This resulted in creating a statistics and structure of the number of
women based on their role, nature, behavior and knowledge on finances.
These statistics made it more evident and assisted in significant actualizing
relevant factors for the research work.
The interviewee were asked questions related to savings and investments,
mutual funds, banks loans and securities, mortgages and credit and debit
card use. The results deduced showed that they did not have enough
understanding on the same. This made it evident that there exists very little
knowledge on these products. Other literature review also stated about
gender discrimination issue pertaining to women. There are evidences in
these reviews that women have not been given equal status as men. Also
there were evidences of policy-makers who are informed of barriers and
gender issues.
Though ladies have the capability to manage finances higher than men once
they square measure able to overcome the barriers to access finance, they
have variety of vulnerabilities in alternative aspects of the monetary sphere.
For example, Females are astute in terms of saving and budgeting, thus they
can be the best people to formulate investment plans in government.
Suggestions should be welcomed by the finance department so identify better
options foreseen by females.

Women’s unequal access to finance is therefore a mirrored image of their

subordinate standing within the family and society at massive.
Some of the challenges girls experience in accessing money resources are
embedded within the deeply entrenched paternal bias of Indian society,
29
especially in rural areas. As a result of the prevailing social and cultural bias
against them girls are subjected to asymmetrical power relations at intervals
the family from early age. In later life, this spills over to the community and
society and restricts their access to resources and opportunities. As a result,
girls feel less assured and competent in developing their potential. this can be
notably therefore with regard to their low level of economic information and
skills (compared to men) that deny them access to finance and leave them at
the outer boundary of the financial system, economically weak and less
freedom in the vicious circle of low investment, low financial gain and low
returns.
These national and international initiatives, however, didn't impact the money
sector. Despite a record performance combined with impressive profits, the
Indian banking sector had not until the shut of the last century, reached bent
the disadvantaged sections of society to incorporate them at intervals the fold
of basic banking services. The inclusion of girls to alter them to fulfill their
needs wasn't on the agenda of the banks. The situation was aggravated by
the absence of data collected and analyzed separately on males and females
at intervals in money establishments, which meant that women’s poor level of
access to financial establishments and services was subsumed under the
figures given in bank reporting and left very little space for policy-makers to be
informed concerning the wide gender gap.
New measures were launched to interest with harsh terms and conditions,
had been the primary supply of credit for girls engaged in the agricultural and
informal sectors. It had given rise to a culture of inconvenience and
intimidation for women as they were thought-about dangerous risks with a low
likelihood of compensation (although truly bank records indicate that girls
have a far better record of loan compensation than men). The banks replaced
bank credit with gender-sensitive and wishes based mostly loans for girls from
totally different backgrounds. This decision grew out of the linkages the banks
had established with NGOs and SHGs that fostered a friendly atmosphere
supported mutual trust and respect for girls to access finance.
To alter ladies to beat the prevailing social norms limiting their access to credit
run also directed the general public sector banks to determine appropriate
coaching for ladies. The banks were required to line up money acquirement
30
centers and organize money acquirement camps a minimum of once a month
to equip marginalized teams with very little or no access to money services
with basic numeracy and different skills to reinforce their ability to undertake
bank transactions severally.
Another observation made in the literature was taking about issues faced by
women related to Agricultural and Rural Development. Women’s access to
credit received an additional boost when the full service banking institutions
and governments funding packages are linked together to introduce initiatives
to deal with women’s difficulties in accessing credit. Collateral free loans
replaced rigid requirements for collateral that was out of reach of most
women. Wherever loaning and reimbursement terms and conditions had been
strict they were currently flexible, smaller loans were on the market and
services were at intervals straightforward reach. The involved bank and tally
monitored the initiatives mentioned on top of and a strong news system was
inbuilt to make sure compliance with the loaning pointers started for the aim.
For the bank linkage theme, observation and evaluation mechanisms were
instituted at intervals funding organizations and packages for tracing the
performance of the partnerships between banks. The commercial enterprise
partners applied qualitative indicators to assess the improvements that can be
made to policies which will involve females in the creation of policies at nation
level. The results of chosen inputs and sequence of events light-emitting
diode to a qualitative modification in engendering the monetary sector thereby
resulting in improved access to finance for girls.
Practical Implications: The results and findings helped us view the user’s
perspective to provide better understanding on the different aspects and
attribute that contributed to gathering relevant data. This concluded us to
understand the financial decision making of working women and other groups.
This was like an eye opener to facts concerned to savings and investments
made by women. Also they were dependent on decision making and guidance
with regards to money on their family and friends. Business woman also had
very little knowledge on the loans given by banks and procedure to access it.
All this is going to help the system across the banking to implement these
aspects and attributes. The interviewee’s also expressed that government
should make financial studies accessible to young girls and women at school
31
and college level. Also the number or institutes that support and promote
women literacy programs would surge so that they cater to each segment of
the society who would join hands and reach out to the non-working class in
urban and rural areas.

Media also should put in more efforts to promote and advertise the products
and benefits of the financial products. Poor access to information, social-
media sites and the risks involved with the financial products, all together
make it difficult for use. Development of programs and policies also should be
promoted by media so that more women can gain access to it. Media needs
to extend its coverage to areas especially rural ones to promote the more on
savings account and use of these accounts. . It is therefore recommended to
have government and other agencies along with financial investor and product
developers to work on initiatives to educate and literate young girls and
women to make use of their financial products.

32
 7.5
UTILITY OF RESEARCH

The research should help in following wary

1. To improve understanding regarding women awareness and financial

Planning.
2. To know why there is absence of right kind of financial acumen among
responded women and its implication regarding financial Planning.
3. To develop a suitable business model for promotion of financial Literacy
among women
4. To assist various banking and financial Sector to develop a suitable
financial Education plan regarding women.

33
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4
 APPENDIX

QUESTIONNAIRE FOR INDIVIDUALS

Which age group do you belong?

<Respondent has to select the age group where he belongs to>

1. Which sexual category you belong to?

<Respondent will select an appropriate gender which can be further
analyzed>

2. Are you working women, business women or house wife?

3. Are you married, single or separated?

4. What is your educational qualification?

5. At your home, who takes the choice in terms of daily expenses?

<Respondent will select the choice which she feels is suitable. She can also
select multiple choices>

7 Who is responsible for financial decisions at your home?

<Interviewee will respond stating the right answer>

8. To understand about the awareness about the financial schemes, a list will
be provided to the respondents. They have to answer what are their priorities
in terms are investments?

9. Do you consider advise of your friends or colleagues while taking financial

decisions

10. Do you consider advise of your partner / spouse while taking financial
decisions

1
11. Does media coverage play a vital role in taking a financial decision

12. Do you have a fixed deposits above 1 lakh

13. How much percentage of your income do you shell for savings or
investments

14. Does your family influence you while taking any financial decision?

15. Have you ever been trained or educated on financial planning or

investment opportunities at your school or college?

16. Do you think government should add this a part of syllabus or curriculum
in all educational institutions, which will educate every individual to take wise
financial decisions?

17. Have you ever applied for a Housing loan?

18. Have you ever applied for a Business loan?

19. Do you own a land on your name?

20. Do you have a SIP(Systematic Investment plan)

2
 QUESTIONNAIRE FOR BANK EMPLOYEES

Q1. Since how long are you working with your Bank?

Q.2. Among your customer base, what percentage of customers are women?

Q3. Out of Fixed deposit accounts in your bank, what percentages of

accounts belong to women?

Q.4 Among the women customers, how many women do you think are aware
of benefits of Fixed deposits and multiple type of Fixed deposits?

Q.5. out of Demat accounts in your bank, what percentage of accounts belong
to women?

Q6. Among the women customers, how many women do you think are aware
of Share trading and the benefits and dis-benefits?

Q.7. out of Housing Loan accounts in your bank, what percentage of accounts
belong to women?

Q.8. out of Business Loan accounts in your bank, what percentage of

accounts belong to women?

Q.9. Out of the Insurance policy holders, what is the percentage of women?

Q.10. what percentage of women out of your customer base are aware and
literate on Systematic Investment Plan’s