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Financial Literacy –India Development Gateway’s Initiatives
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“Today’s financial world is highly complex when compared with that of a generation ago. Forty years ago, a simple understanding of how to maintain a checking and savings account at local banks and savings institutions may have been sufficient. Now, consumers’ especially rural citizen must be able to differentiate between a wide range of financial products and services, and providers of those products and services. Previous, less-indebted generations may not have needed a comprehensive understanding of such aspects of credit as the impact of compounding interest and the implications of mismanaging credit accounts.
Increase consumer awareness as to the necessity of financial education and how they can access it. Financial education is not just for investors. It is just as important, if not more so, for the average family trying to balance its budget and save for the children’s education and the parents’ retirement. More needs to be learned about the financial education needs of consumers at various stages in their lives and how financial education programmes can be designed to best address these needs.
India Development Gateway project has planned to develop content on financial literacy and disseminate the content through website, Multimedia CD Rom and other channels.
