Factors Influencing the Investment Behaviour of Rural Households in Coastal Districts of Andhra Pradesh, India
Journal Title: Saudi Journal of Business and Management Studies - Year 2018, Vol 3, Issue 2
Abstract
Abstract:The emerging economies like India where more than 60% of the population lives in the rural areas, should ensure adequate access to the financial products and services to all the individuals in the country. The launch of the Prime Minister Jan DhanYojana (PMJDY) a revolutionary financial inclusion program in August 2014 to bring access to formal financial services to all the India’s population has led to the opening of around 2.8 billion bank accounts till March 2017. The access to the financial products is expected to change the investment and savings behavior of the rural households. The present study focuses on understanding the factors influencing the investment behaviour of households in rural India, where majority of the population lives. In addition to the socio economic factors, the study also considers the impact of the level of financial literacy on the investment behaviour. The study was conducted in the coastal districts of Andhra Pradesh where the major occupation of the rural households is agriculture. Discriminant analysis is carried out to identify the factors influencing the investment behaviour of rural households. As Agriculture is the major occupation in rural India, the findings of the study will certainly help the government in encouraging the rural households for investing in financial products. The results of the study will also serve as a major input to the policy makers in channelizing the rural household savings into productive activities of corporate entities. Keywords:Financial Inclusion, Financial Literacy, Rural Households, Discriminant Analysis, Investment Behavior.
Authors and Affiliations
T V VPhani Kumar
Keywords
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