A Comparative Study on Financial Literacy Levels Among Urban and Rural Populations in Raigarh, Chhattisgarh, India

Abstract: This study examines the gap in financial literacy between urban and rural populations in Raigarh, Chhattisgarh. Based on data from 70 respondents using structured questionnaires, the analysis employed regression (R² = 0.529) and chi-square tests. Results show urban individuals are more aware and prefer modern investments like mutual funds and stocks, while rural respondents favor fixed deposits and gold. Education, steady income, and job status significantly impact financial knowledge. The chi-square test confirmed a strong link between residence and investment behavior. Younger, educated males showed better financial understanding. The study emphasizes the need for focused financial literacy programs in rural areas and among informal workers to foster inclusive financial growth and smarter economic decisions.