Analytics of Financial Literacy and Investment Behavior among Indian Millennials: Data-Driven Analysis
Author(s): Hitesh Rohilla
Publication #: 2407075
Date of Publication: 03.01.2024
Country: India
Pages: 1-6
Published In: Volume 10 Issue 1 January-2024
Abstract
This study explores the relationship between financial literacy and investment behavior among Indian millennials, focusing on a convenient sample of 480 investors across five districts in Rajasthan. Using recent hypotheses related to financial risk and investment, we examine how financial literacy influences the investment strategies of this demographic. Our analysis reveals that higher levels of financial literacy correlate with more diversified and risk-averse investment portfolios. However, most samples display inadequate financial knowledge, which leads to suboptimal investment choices. The findings underscore the critical need for enhanced financial education programs tailored to millennials. Policy implications suggest that targeted financial literacy initiatives could improve investment outcomes, contributing to economic stability and growth. This study specifies valuable insights for officials, educators, and economic institutions aiming to foster better investment behavior through improved financial literacy among Indian millennials.
Keywords: Financial Literacy, Investment Behavior, Indian Millennials, Investment Strategies, Financial Education, Risk Tolerance
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