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Financial Literacy- Concept and its Importance in India

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Description
Financial Literacy can broadly be defined as the capacity to have familiarity with and understanding of financial market products, especially rewards and risks in order to make informed choices. The article covers the concept of Financial Literacy, its focus i.e. individual, different Global Practices on Financial Literacy; the Indian Realities-covering the position in India, why do we need Financial Literacy; Possible Themes -issues that could be addressed effectively through a financial literacy and which one we should use. In the end It covers possible approaches to Financial Inclusion; role of RBI and banks. The article concludes with importance of objective and focus.

Comments

By: Ganes
1095 days 5 hours 12 minutes ago

Excellent sir,A Great Job done

By: avik
933 days 1 hours 47 minutes ago

Dear Sir, I would also like to add that Financial Literacy is not about just markets and investing, but also savings, budgeting, financial planning, basics of banking and most importantly about being "Financially Smart". RBI's focus remains on Financial Inclusion, but let me add that "Financial Inclusion and Financial Literacy needs to go hand in hand" if the Government desires to provide access to financial products and services to the common man and if the common man is supposed to understand these products and services first.

Regards,
Avik Kedia
Sanchayan Society
9560228484
www.SanchayanSociety.org

By: AJU JOSEPH PETER
867 days 32 minutes ago

thank you Sir !!