| Title: FINANCIAL LITERACY AND HOUSEHOLD FINANCIAL SECURITY IN RURAL HARYANA: A STUDY OF A VILLAGE WORKSHOP PROGRAMME |
| Authors: Lakshya Khurania |
| Abstract: This paper sets out how to estimate the effect of a free, Hindi language financial literacy workshop programme on the financial security of rural households in Haryana, India. India has largely solved the problem of access: the great majority of households now hold a bank account. It has not solved the problem of use. Roughly a quarter of the accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) have fallen inoperative, informal loans are still struck without a written rate, and land records that govern access to credit remain unread by the people they name. The programme studied here, founded after more than eight workshops delivered in villages of Kaithal district, addresses that gap with six practical modules taught in the village itself. Because villages and participants select themselves into the workshops, attendance is endogenous; the paper therefore proposes a propensity score matching design, strengthened by a waitlist comparison and a follow up visit four to six weeks after each session. Drawing on NABARD’s 2021/22 survey of one lakh rural households and a meta-analysis of 76 randomised trials, it calibrates a simulated evaluation of 2,400 households in 40 villages, in which the true effect is known. A naive comparison overstates the knowledge effect more than twofold; matching removes part of that bias, and a difference in differences on baseline scores recovers the true effect of about 0.2 standard deviations. Effects on behaviour and on worry over essential expenses are too small to detect at this scale, as the power calculations predict. The results are illustrative and are not observations of the programme’s participants. |
| Keywords: financial literacy, financial inclusion, rural India, Haryana, Jan Dhan Yojana, propensity score matching, simulation |
| DOI: https://doi.org/10.61646/IJCRAS.vol.5.issue6.159 |
| Date of Publication: 08-11-2026 |
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| Published Volume and Issue: Volume 5, Issue 6, November-December 2026 |