Financial Literacy Programs In India - The Need Of The Hour


Financial Literacy CERE India
Financial Literacy CERE India from cere-india.org

Financial Literacy Programs in India - The Need of the Hour

What is Financial Literacy?

Financial literacy is the ability to understand how to manage financial resources and make informed decisions. It includes understanding of financial products and services, such as banking, insurance, investments, taxation, and financial planning.

The Need for Financial Literacy Programs in India

The need for financial literacy in India is increasingly felt with the economic growth of the country. With the rise in the number of financial products and services, the need for financial literacy is even more pressing. India has a large population of people who lack basic financial knowledge and understanding. This lack of financial literacy has had a huge impact on the financial wellbeing of the population.

Benefits of Financial Literacy Programs

Financial Literacy Programs help individuals and families to become more financially secure. They help people to understand the different financial products and services that are available, and how to use them in the best possible way. These programs also help to educate people on the importance of budgeting and saving, as well as how to use debt responsibly.

Initiatives by Government of India

The Government of India has taken several initiatives to promote financial literacy in the country. These include the launch of the Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme and the Pradhan Mantri Gramin Financial Inclusion scheme. These schemes aim to provide access to banking services to the unbanked population in India and to promote financial literacy among the rural population.

Conclusion

Financial literacy is a key factor in achieving financial security and stability. The Government of India has taken several initiatives to promote financial literacy in the country. The need for financial literacy in India is increasingly felt with the economic growth of the country and it is important that people are educated about financial products and services in order to make informed decisions.


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