IIM Udaipur and PRICE Launch Joint Survey to Measure Financial Maturity Across Gujarat and Rajasthan
Udaipur (Rajasthan) [India], August 1: The Indian Institute of Management Udaipur (IIMU), in collaboration with People Research on India's Consumer Economy (PRICE), has launched a major field-based research initiative to assess the financial maturity of individuals across urban and rural areas of Gujarat and Rajasthan. This large-scale survey forms part of a joint effort to create a comprehensive Financial Maturity Index (FMI) that will support data-driven financial inclusion policies and programs.
The primary objective of the study is to develop a Financial Maturity Index that reflects how individuals understand, manage, and utilise financial resources. The index will assess key dimensions including financial literacy, saving and planning behaviours, product usage, risk preparedness, and digital financial adoption. The study aims to generate actionable insights that can inform public policy, financial education, and inclusive development.
A total of 4,000 individuals--1,900 from rural and 2,100 from urban areas--will be surveyed using a robust sampling methodology to ensure the inclusion of a wide range of age groups, genders, occupations, education levels, and income segments. In Rajasthan, the survey will be conducted in the districts of Ajmer, Banswara, Churu, Ganganagar, Jaipur, Jaisalmer, Jhalawar, Karauli, and Udaipur. In Gujarat, the selected districts include Ahmadabad, Banas Kantha, Jamnagar, Junagadh, Rajkot, Surat, Vadodara, and Valsad.
To facilitate smooth implementation, official letters regarding the study have been sent to the Chief Secretaries of the Governments of Rajasthan and Gujarat, as well as to the District Magistrates and Collectors of all selected districts. Their cooperation is being sought to enable smooth field operations and local engagement.
Fieldwork will be conducted by trained investigators from PRICE, who will carry official identification and follow strict ethical protocols. The survey teams will begin household visits in August 2025, and the study is expected to run for six months. All information collected during the survey will be treated as strictly confidential and used only for academic research and public policy development. No personal data will be used for commercial purposes.
According to the representatives from IIMU and PRICE, this study is a critical step toward understanding the financial behaviour of Indian households. The representatives urge citizens across the selected districts to participate and support the initiative. Their input will directly contribute to shaping more inclusive and effective financial systems.
About IIM Udaipur
IIM Udaipur is well on its way to becoming a globally recognised B-School. It has broken new ground by focusing on world-class research and transforming students into tomorrow's managers and leaders. The Institute arrived on the global education stage by securing accreditation from the AACSB (Association to Advance Collegiate Schools of Business) in merely eight years of its establishment. IIMU has been listed on the Financial Times (FT) Global MIM Ranking 2024 for the 6th consecutive year, making it the only IIM to have achieved this feat. In the QS Global MIM Ranking 2025, IIM Udaipur stands as the 6th highest-ranked IIM and continues to maintain its listing for the 6th year in a row, reinforcing its global standing. Notably, it is also the youngest B-School in the world to be featured in both rankings. Additionally, IIM Udaipur ranks 4th in India for research in management, according to the UT Dallas methodology, which tracks publications in leading global journals, showcasing its excellence in academic research.
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