Our results align closely with previous studies in certain
respects, but not others. As in other studies, literacy is
higher among respondents with higher education and with
married respondents. It is also much lower among women.
However, unlike previous studies, we do not find higher
literacy measures among middle-aged respondents.
Additionally, we do not find literacy to vary by income.
These differences may partially result from sample selection
issues—the participants are people who were actively
seeking financial advice. Thus, our results are better suited
to assessing the level of financial literacy in the subset of
Indian population that shares socio-economic characteristics
of the survey participants. Care should be taken in
drawing causal inferences.