Financial Literacy and Its Impact on Financial Inclusion

Abstract

Financial literacy plays a crucial role in promoting financial inclusion and fostering economic growth. This research paper aims to explore the concept of financial literacy and its impact on financial inclusion. The paper will discuss the importance of financial literacy in empowering individuals to make informed financial decisions, access financial services, and participate in the formal financial system. It will also analyze the challenges and barriers to financial literacy and inclusion, as well as the initiatives and strategies to promote financial literacy among different population groups. The paper will conclude with recommendations for policymakers, financial institutions, and other stakeholders to enhance financial literacy and promote financial inclusion.