Financial Literacy- Concept and its Importance in India
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.
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