A.K. Mathur & Sameer Misra

Lucknow Management Association

Lucknow, Uttar Pradesh-India

Abstract– Financial literacy is a prerequisite for financial inclusion. These are crucial for the social and economic development of a country for several reasons. The consequences of financial illiteracy are not confined to the individual level; they also have repercussions at the macroeconomic level. This issue can result in diminished economic savings and investment rates, which in turn hampers capital formation and restricts resources available for productive endeavors. Furthermore, insufficient financial literacy may lead to less-than-optimal participation in financial markets, thereby decreasing the efficiency and effectiveness of financial intermediation. In addition, a deficiency in financial literacy obstructs entrepreneurship and restricts individuals’ capacity to successfully initiate and manage businesses. Financial literacy equips individuals with the knowledge to make informed financial choices, resulting in improved management of personal finances and enhanced economic stability. AWOKE India Foundation has been operating in several blocks of Gonda District and has delivered financial literacy according to the mandate of RBI. In several blocks in District Gonda, a sizable population has been exposed to the prescribed curriculum through AIF personnel since January 2023, when AIF started its operations. This study aims as to investigate the impact of the programme among a randomly picked up group of beneficiaries in Colonel Ganj, one of the village blocks in Gonda district Uttar Pradesh. Responses of about 200 people of Colonel Ganj block (Sample block selected for the purpose of impact study for Uttar Pradesh) were collected on a structured questionnaire. The questionnaire designed for the random group of respondents is in line with the abridged curriculum, in the form of PPT included in slip books of trainer, covering the 13 modules content approved by RBI. This quantitative data was supplemented with data captured from interviews with AIF personnel. Basic statistical analysis of the quantitative data has been made to arrive at the conclusions about the impact of the training.

Keywords-Financial literacy, Content, Capacity, Community, Communication, Collaboration.

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