Does participation in self-help group-based micro-financial activities enhance the financial literacy of women? Evidence from India

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PurposeThe present study analyses the impact of participation in the self-help group (SHG)-based micro-financial activities (PSMFA) on the financial literacy (FL) of women.Design/methodology/approachThe data were collected from Kudumbashree NHG members from the State of Kerala, India, selected through a multi-stage random sampling method. The relationship is examined by employing multiple linear regression (MLR) and artificial neural network (ANN) analyses.FindingsThe PSMFA was found to be improving the FL level of SHG members. Participation in FL promotion programmes of the SHGs did not significantly influence the FL of the SHG members. While higher educational levels and increased family income positively influenced the FL of SHG members, factors such as age, occupation, family type and marital status did not exhibit a significant impact.Originality/valueTo the best of our knowledge, the present study is the first to analyse the impact of PSMFA on the FL of the SHG members.