A study of Rural women’s financial literacy and awareness level towards financial products and services in Kerala perspective with Special reference to Malappuram District

Financial literacy is crucial in empowering individuals, particularly rural women, to make informed financial decisions and achieve economic well-being. This study explores the financial literacy and awareness levels of rural women in the Malappuram district, focusing on the relationship between socio-demographic factors and financial literacy. The research, conducted through a cross-sectional descriptive study among 100 women, reveals that most respondents are young, educated, and possess a moderate level of awareness and knowledge of financial tasks and products. The study highlights significant barriers to financial literacy, including social and cultural issues, lack of education, income constraints, and gender discrimination. Despite these challenges, the penetration of financial products like bank accounts, debit cards, and mobile banking is relatively high among the participants. The study finds a significant relationship between age and financial literacy but no significant correlation between education or income levels and financial literacy awareness. The findings underscore the need for targeted financial education programs to enhance financial literacy among rural women, addressing identified barriers and focusing on age-specific strategies to improve their economic participation and contribute to national economic development.