As part of the preparatory phase for our upcoming survey, “Towards Building a Financial Maturity Index,” PRICE, in collaboration with the Indian Institute of Management Udaipur (IIMU), organized a comprehensive four-day training workshop. The workshop was held from 27th to 30th July 2025 at the JM Financial Research Centre, IIM Udaipur.

The Financial Maturity Index (FMI) study aims to assess key dimensions of financial capability—including financial literacy, planning behavior, product diversification, and fintech adoption—through an extensive household survey across rural and urban areas in Rajasthan and Gujarat. 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.

The objective of the training workshop was to strengthen the capacity of field supervisors and Research Investigators (RIs) to ensure high-quality data collection.

The workshop was structured as follows:

Day 1: Questionnaire Familiarization: Introduction to the survey design and detailed briefing on the questionnaire using pen and paper method.

Day 2: Digital Training: Hands-on training on the digital application for data collection, navigation of interface, and troubleshooting.

Day 3: Pre-Testing in the Field: Field staff conducted real-time pre-tests in selected households to identify operational issues and assess question flow and comprehension.

Day 4: De-brief and Discussion: A reflection session where field teams shared their experiences, challenges, and feedback from the pre-test exercise. Solutions and clarifications were provided to ensure readiness for the main survey rollout.

The workshop was graced by Professor Ashok Banerjee, Director of IIM Udaipur and Dr. Rajesh Shukla, Managing Director and CEO of PRICE. Their insights and encouragement laid a strong foundation for the survey’s next steps. The sessions were led by the PRICE research team- Pooja Sharma, Rajendra Singh, and Tanvi Menaria—and were attended by 30 field staff members.

This training marks a significant milestone in our journey to develop a robust and inclusive Financial Maturity Index that reflects the financial well-being and capabilities of Indian citizens.