Comparison of Financial Literacy among Women Self Help Group Members Engaged in Weaving and Coir Activities in Salem District of Tamil Nadu

Financial literacy is considered an important adjunct for the promotion of financial inclusion and ultimately financial stability. With this background the study was taken up to assess and compare the financial literacy among the self-help group members engaged in weaving and coir activity of Salem district. 160 sample respondents involved in weaving activity and 40 in coir activity were randomly selected. The data was analyzed using simple conventional analysis and the results revealed that the financial knowledge was found to be low and the financial behavior and financial attitude was average among the women self-help group members engaged in weaving and coir activity. The study suggests that banks could take up proper extension efforts on financial literacy programmes. FLCCC should make efforts in providing financial counseling services to the SHGs through face to face interactions. The members of SHGs should be encouraged to engage in multiple income earning activities to improve their standard of living.