A Study on the Financial Literacy and its Impact on Financial Inclusion (With reference to Undergraduate Students in Hyderabad City)

Abstract Financial inclusion is an essential concept of finance that creates numerous financial products and services easy to get to and reasonable to all people and businesses, specifically those excluded from the formal financial arrangement. Financial literacy is the main and fundamental factor that affects ability of people to access financial services. This study explored the impacts of financial literacy on financial access over and done with banking access and fin tech using the data collected from questionnaire through undergraduate students in Hyderabad city. Researcher has employed regression model to scrutinize whether financial literacy significantly affects financial accessibility for the undergraduate students. The experiential findings exhibited that knowledge regarding various financial services factors had significant impacts on getting financial access. Variables such as age, income level of parents, knowledge regarding depositing and withdrawing money, and knowledge regarding interest rate, FT account, FT training, FT bill pay, FT software use etc. affected the overall access to finance.