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Financial literacy is an emerging personal financial agenda at globe. Financial literacy concerns with management of money for consumption expenditure, borrowing and saving at home and outside, which is also termed as personal finance. The borrowing and saving function carried out with formal financial institutions refers to institutional finance. Increasing monetization of the economy, complexities of financial markets, protection of financial consumers and global financial crisis gave rise to agenda of financial literacy to equip customers with personal and institutional financial literacy. Both personal and institutional financial literacy has behavioral implication and affects the financial well-being of individuals. This study used the framework of theory of planned behavior and social cognitive theory. The theory of planned behavior states that the literacy i.e. knowledge and skill on financial matters will develop attitude; and if attitude is positive, the persons will behave accordingly. The social cognitive theory reveals that the literacy alone can also affect financial behaviors.

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Chaulagain, Ramesh Prasad
a) Name: Ramesh Prasad Chaulagain, b) Date of Birth: 1974/06/06, c) Working Office: Nepal Rastra Bank, d) Qualification: Masters in Economics and Management, PhD in Development Studies.

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