Financial Literacy among Rural Households in Coastal Districts of Andhra Pradesh

The launch of the Prime Minister Jan DhanYojana (PMJDY) program in August 2014 to bring access to formal financial services to all the India's population has led to the opening of 22.6 crore bank accounts till July 2016. This program is a National Mission on Financial Inclusion encompassing an integrated approach to bring about comprehensive financial inclusion of all the households in the country. The benefits of investing in financial products can be enjoyed by the rural population only after clearly understanding the benefits associated with each product. The financial literacy in Rural India will determine the success of the financial inclusion programs. The present study focuses on understanding the level of financial literacy among the rural households in the coastal districts of Andhra Pradesh.