EXPLORING THE IMPACT OF FINANCIAL MISMANAGEMENT ON SELECTED INDIAN FINANCIAL INSTITUTIONS: A COMPREHENSIVE ANALYSIS

Management

Indian economic growth can be seen in the progress of the country's banking sector. No nation can prosper economically without a robust and reliable banking system. Financial mismanagement refers to the poor handling and utilization of resources and funds by people or organizations, which results in losses or inefficiencies. This research delves into the complex interplay between financial mismanagement and its implications for selected Indian financial institutions. Providing an overview of the Indian financial system's pivotal role in economic growth, the study investigates various forms and potential causes of financial mismanagement within these institutions. A structured survey involving 390 respondents from diverse demographics examines awareness of financial mismanagement, beliefs regarding the impact of financial tools on performance, and perspectives on the quality of products offered. Descriptive statistics reveal a moderate awareness level and a significant majority acknowledging the positive impact of financial tools. The One-Sample Kolmogorov-Smirnov test challenges the null hypothesis, suggesting a substantial impact of product quality on the financial management practices of these institutions. Overall, the study contributes valuable insights into enhancing financial health and management practices within the context of selected Indian financial institutions.

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