FINANCIAL LITERACY IN INDIA: STATISTICS AND SOLUTIONS

  Financial Literacy means the ability to understand how money works in the world and take an informed as well as judicious decision with regards to all the financial activities. A person who is Financially literate knows how to earn, manage and invest money. He is familiar with financial products and applies his knowledge to make the best use of them. Deep Institute providing ISS coaching in Lucknow quoted the President of the Institute of Company Secretaries of India (ICSI), Ashish Garg, "Despite having the world's 10th largest and Asia's oldest stock exchange, low per capita income, educational inequality, non-banking habits, informal borrowing and lending practices that have been going on for years. Thus, it is imperative for the country to now understand how to optimize its resources and boost the economic and financial backbone of the nation." Financial Literacy in India Financial literacy and financial inclusion are two aspects of financial stability i...