FINANCIAL LITERACY AND BANKING PREFERENCES: A COMPARATIVE ANALYSIS OF PUBLIC AND PRIVATE SECTOR BANK CUSTOMERS OF HARYANA STATE

Abstract

This research examines the relationship between financial literacy and banking preferences among customers of public and private sector banks of Haryana state. Financial literacy plays a crucial role in assessing individuals' ability to make informed financial decisions, manage their finances, and choose appropriate banking services. The study aims to identify any notable differences in financial literacy levels and the influence of financial literacy on banking preferences among customers of both public and private sector banks of Haryana state. Data was collected through surveys distributed to bank customers, and statistical analyses were conducted to derive meaningful findings. The results of this study may have implications for policymakers and banking institutions in terms of promoting financial literacy and tailoring their services to meet the needs of their customer.