An Empirical Study on Financial Literacy among Rural Poor in Thanjavur District

Abstract

Financial literacy is a crucial facilitator of economic inclusion, particularly for the rural poor. This empirical research examines the extent of financial literacy among the rural poor in Thanjavur District, Tamil Nadu. A primary survey was conducted among respondents in four taluks of Thanjavur District using a structured questionnaire on knowledge, attitudes, and practices in basic banking, savings, credit, insurance, digital payments, and financial planning. Descriptive statistics, scoring trends, and inferential analyses were employed to analyze the data. The findings show that financial literacy is at a moderate but uneven level, with 38% of respondents classified as Low, 44% as Moderate, and 18% as High. Significant correlations were established between financial literacy and educational level, income, and access to financial services. This paper concludes with specific recommendations to policymakers, NGOs, and financial institutions for improving financial education and outreach programs for the rural poor in Thanjavur.