The primary objective of this project is to develop a composite Financial Maturity Index for India that captures the financial capability of citizens across diverse regions and demographic groups. The study seeks to assess the level of financial sophistication among individuals by evaluating their literacy, planning behaviour, product diversification, and adoption of fintech solutions. By identifying critical gaps in financial capability and inclusion, the index aims to provide actionable insights for policymakers, regulators, and financial institutions to design more targeted financial literacy and inclusion programs.
IIMU and PRICE Research Team: Ashok Banerjee, Rajesh Shukla, Pooja Sharma, Asha Sharma, Rajender Singh, Tanvi Menaria and Shailendra Dubey
| 2025 | Towards Building a Financial Maturity Index for India |
| Objectives | The primary objective of this project is to develop a composite Financial Maturity Index for India that captures the financial capability of citizens across diverse regions and demographic groups. The study seeks to assess the level of financial sophistication among individuals by evaluating their literacy, planning behaviour, product diversification, and adoption of fintech solutions. By identifying critical gaps in financial capability and inclusion, the index aims to provide actionable insights for policymakers, regulators, and financial institutions to design more targeted financial literacy and inclusion programs. |
| Coverage | 2 states of India: Rajasthan and Gujarat |
| Sample Design | 3-stage stratified random sampling |
| Sample Size | 4,000 individuals |
| Data Collection Method | Face-to-face questionnaire-based approach (CAPI) |
| Respondents | Individuals aged 18 and above. |
| Study period | August-December 2025 |
