Table of Contents

Empowering Indian Women – Innovative Techniques in Financial Literacy

EMPOWERING INDIAN WOMEN

Empowering Indian Women

(Innovative Techniques in Financial Literacy)

In India, Empowering women is our need. Our honorable Prime Minister Narender Modi Ji also believes that our women should be provided with the equal opportunities. She should be independent and educated. Our Prime Minister also promotes the participation of women in financial opportunities. He says:

“Financially independent women can stand against all social evils”

Therefore it is essential to increase the financial capacity of women in India through various means. In India, women are trying their hands in the field and despite all odds; they are reaching at the high positions. It proves that women can achieve any position in their life if they are financially independent. Our society has made segregation in the roles of women and men. Change has to take place in every aspect of their living like within the family, society, and country. Women faces problem even in making small decision .

The right to be independent socially or financially is not available in its full form, even today. Thus to make women even more confident and independent financial literacy is very useful. It is financial literacy that motivates women for sustainable income through micro activities. A woman should know how to earn money, open an account in a bank and take good financial decisions there are a number of ways through which financial education can be imparted among women in India.

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 The use of Mobile Phone, Internet, Facebook and WhatsApp and other social media are playing a crucial role in order to circulate financial literacy among women. The social media and the technology play an important role of interface that allows women to access financial literacy easily and conveniently. Through the Internet, women come across innumerable blogs and websites that provide a plenty of information regarding financial literacy. The use of technology educates women at no cost. It increases the world of possibility. Women can manage their money in a bank or run a business. Facebook, whats up share the important information very fast regarding financial literacy that reaches to a large number of audience. Financial literacy provides the economic freedom that leads to self-empowerment. This education evolves women in money management. Hence it boosts the self-esteem and self-confidence.

But it becomes difficult for those who are illiterate Dalit and lower caste poor women of India who cannot read and write. They have no access to the internet and other social media. In that case, they should be provided with the training programme so that they can solve their queries and learn through practical experiences. Hence they are not educated they should be provided with proper assistance. Financial education awareness programmes should be initiated to address women needs.  women’s financial education needs as an area deserving of further research, policy analysis and guidance If they belong to a very low class and community.

Attitude-related to the self-efficacy also impacts learning. Many families believe that boys are good at decision making in financial cases. They are more reliable than the woman. Even women also believe that women are less competent. Thus it is important to change this mentality among women that they are not less than anyone.

Policy awareness Programmes on the financial education should be started keeping in mind the need of women of the specific area. For example, women in Bihar have different problems than that of women belonging to Andhra Pradesh. Some programmes are targeted at the needs of specific subgroups of women, such as young women, low-income women, widows, and women who are unemployed, financially excluded, or living in disadvantaged. Therefore all this lead to female small and micro entrepreneurs and improve women’s strategies in dealing with various financial matters

Written By

Krati Singh

(Team- ItsLyf)

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Empowering Indian Women

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