Main Article Content
Abstract
Financial literacy refers to the knowledge required for managing personal finance. Financial literacy is the study which is useful to understand finance. More specifically, it refers to an individual’s ability to make informed judgments and effective decisions about the use and management of their money. Increasing range and complexity of products has made it very difficult for an ordinary person to take an informed decision. Financial literacy develops confidence, knowledge and skills to manage financial products and services enabling them to have more control of their present and future circumstances. Financial literacy of the customers of the Tirunelveli district is found poor as per the analysis. Also, customers’ knowledge on the various components of financial literacy is also not satisfactory, except financial awareness. Thus it is clear from the analysis that customers have satisfactory knowledge on financial literacy, but poor in financial products, conception and financial services offered by the commercial banks.