THE ROLE OF FINANCIAL LITERACY IN INVESTMENT DECISIONS AMONG WORKING WOMEN IN INDIA: A SYSTEMATIC LITERATURE REVIEW

Abstract

This study investigates how financial literacy influences investment decisions among working women in India through a systematic literature review (SLR) of 65 studies identified via the PRISMA framework. The research reveals several critical dimensions, including financial literacy levels, behavioral factors, investment choices, barriers faced, and the outcomes of these investments. Findings indicate that women with higher financial literacy exhibit increased confidence and are more likely to make informed and diversified investment decisions. However, many women encounter significant socio-cultural barriers, limited access to financial services, and inadequate digital literacy, which impede their financial empowerment. The study underscores the necessity for targeted financial education programs and gender-sensitive policies while highlighting the importance of integrating technology to effectively address these gaps. The implications of these findings suggest actionable strategies for enhancing women's financial independence and improving their decision-making capabilities in investments. Overall, the research advocates for a concerted effort to empower working women financially, ensuring they can navigate investment landscapes with greater assurance and competence.