Published Paper Details:

Gender bias in decision making in households remains a problem in India and thus prevents women to gain economic agency with the growing concern on financial literacy in programs on policymaking and development practitioners. This paper also examines the interface of gender bias with financial literacy and how gender bias constructs the role of women in household and economic financial decision-making. Through primary survey data (N = 100) analyzed through SPSS, this study views the financial authority in households, the confidence women have towards financial issues, as well as the degree of change in financial literacy training reveal changes in these dynamics. The results indicate that a vast majority of households leave financial decision-making to male household members with women experiencing a strong perceived bias. With statistical tests, it was established that financial literacy training is correlated with increased determination to screen finances among women. This paper anticipates that, laws and policies, although they give guidelines of equality, social norms and unavailability of financial knowledge is a significant impediment. It offers combined policy, education and cultural interventions in order to achieve significant financial empowerment of women.