Abstract:

Financial literacy has emerged as an important component of financial inclusion and household financial well-being. The increasing availability of banking facilities, digital payment systems, insurance products, investment avenues, and credit services has made it necessary for individuals to possess adequate financial knowledge and decision-making skills. Financial literacy enables people to understand financial products, plan their expenditure, develop saving habits, evaluate investment alternatives, manage financial risks, and make informed decisions concerning their present and future financial requirements.

The present study focuses on assessing the level of financial literacy among residents of Adityapur, Jamshedpur, Jharkhand. The study examines residents' awareness and understanding of basic financial concepts and investigates their saving, investment, and financial planning practices. It also attempts to examine whether demographic characteristics such as age, gender, educational qualification, occupation, and income are associated with differences in financial literacy. Particular attention is given to residents' awareness and use of formal financial services, investment products, digital financial services, and financial security mechanisms.

The study adopts a descriptive and exploratory research design. Primary information is proposed to be collected through a structured questionnaire administered to residents of Adityapur, while secondary information is obtained from books, research articles, government publications, and reports of financial institutions. The collected data may be analysed through frequency distributions, percentages, cross-tabulation, and appropriate statistical techniques depending upon the nature of the data.

The study is expected to provide an understanding of the financial knowledge, attitudes, and financial practices of residents in the study area. The findings may help identify areas where financial awareness remains inadequate and may provide useful suggestions for strengthening financial education, responsible saving and investment behaviour, and effective participation in formal financial systems.

Keywords:

Financial Literacy, Financial Awareness, Financial Inclusion, Savings, Investment Behaviour, Financial Planning, Adityapur, Jharkhand.

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Methods