The study notes that though men have relatively better financial knowledge, women had better financial attitude and behaviour in savings, borrowing, consumption, investment and taking financial risks and received higher scores as a result.

The statistics show that by global standards, the gender gap in financial education puts India at the bottom of the list, along with South Africa, Malaysia and Hungary.

The study says that Indian women may be at a greater disadvantage because culturally, Indian men take care of personal and household finance. This would deprive Indian women of the experiences necessary to hone financial knowledge.

Another factor to explain the difference in the survey is that, compared to women, men tend to have a slightly better ability to reason and apply numerical concepts.

Indian men tended to be more overconfident about their financial skills. Indians however seemed to have a positive attitude to the issue of money and had prudent financial behaviour which is desirable, according to the study.

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