Authors: Kolhe Pruthviraj Bhimrao
Abstract: This study examines the status of financial literacy among Scheduled Castes in Chhatrapati Sambhajinagar district. Although the district is historically, culturally, and educationally developed, significant gaps exist in financial awareness, especially among socially and economically weaker sections. The study is based on both primary and secondary data, with primary data collected from 470 respondents through a structured questionnaire. The findings reveal that while some respondents have basic knowledge of financial concepts like income planning and expense management, awareness about advanced aspects such as investment, insurance, digital finance, and banking regulations remains limited. A considerable proportion of respondents lack clear understanding of key institutions like the Reserve Bank of India (RBI) and its policies. Many respondents depend on banks and educational institutions for financial information, but a significant number still remain unaware or rely on informal sources. The study also highlights major challenges such as lack of proper financial education, limited access to reliable information, digital illiteracy, and socio-cultural barriers. These factors directly affect financial decision-making, savings behavior, and overall economic progress. Based on the findings, the study suggests various measures, including the active involvement of educational institutions, awareness campaigns by banks, use of digital and social media, and coordinated efforts by government and non-government organizations to improve financial literacy. Overall, the study concludes that improving financial literacy is essential for enhancing financial inclusion, empowering individuals, and ensuring sustainable economic development.
DOI: http://doi.org/
