AN ENQUIRY INTO FINANCIAL AWARENESS LEVEL OF RURAL WOMEN:A CASE STUDY OF VAISHALI DISTRICT

Abstract

In this era of rapid economic expansion, technological innovation, and the current digital age, having access to and understanding of digital financial services is crucial for financial inclusion and women's empowerment. Women struggle to effectively use their bank accounts due to low financial awareness and inadequate penetration of banking channels, especially in rural Bihar. Objective of Study is to understand the level of financial literacy amongst women of rural area of Hajipur Block of Vaishali District to know the various sources of financial literacy to evaluate the perception of rural women towards financial awareness and digital financial literacy.In this study, an attempt has been made to study the relationship between various demographic factors and financial awareness of rural women workers in the area of Hajipur Block, Bihar. Data has been collected through primary sources utilizing questionnaires, schedule, personal interviews and survey method. Descriptive Statistical tools and Chi-square test have been conducted for hypothesis testing. The findings of the study shows that the SHG model is successful in raising awareness among rural women. The overall rate of financial awareness is 69%. Even there is a necessity to analyze and improve the financial behaviour of rural women and this can be done by some of the ongoing government projects for women education. The progress of such programs is slow in our country and there is a need to expedite the same.