Published Paper Details:

In a nation striving toward economic empowerment, this study uncovers the invisible barriers holding millions back: gaps in financial literacy. Through a behavioral finance lens, we investigate the financial literacy levels of 60 Indian adults (aged 20-60) and their impact on investment diversification practices. Employing a structured questionnaire--anchored in the OECD's Financial Literacy Framework--and a 5-point Likert scale, participants were categorized into high-literacy (score >=35/50) and low-literacy groups. Using an independent samples t-test, results revealed a stark divide: high-literacy individuals (M = 38.2, SD = 3.1) demonstrated significantly better diversification habits than their low-literacy counterparts (M = 28.7, SD = 4.5), with a large effect size (d = 0.89) and statistical significance (p = 0.001). Age emerged as a critical factor, with only 28% of adults over 40 scoring high literacy compared to 43% of those aged 25-35. Gender gaps, however, narrowed in urban settings (52% male vs. 48% female), signaling progress in women's financial inclusion. These findings underscore the urgent need for context-specific financial education--programs tailored to rural communities, older adults, and non-English speakers. By bridging literacy gaps, India can transform financial knowledge from a privilege into a tool for collective resilience, ensuring no one is left behind in its march toward inclusive growth.