Question

what steps are being taken for providing financial education in India​

Answer 1

Answer:

Financial literacy and financial inclusion are two aspects of financial stability in a country. While, financial literacy can accelerate financial inclusion, the vice versa may not hold true. Because, when millions of bank accounts were created under PMJDY, (a National Financial Inclusion Mission), it could have resulted in higher literacy rate too. But it didn’t. If it had, the Standard & Poor’s survey on Global Financial Literacy wouldn’t have come out with a report that reveals how over 76% Indian adults are financially illiterate.

Answer 2

Explanation:

From our childhood we have a habit of savings. Whether it is our piggy banks, pocket money or money which we get from our relatives.

On the other hand when we see western countries they are just opposite to us, they believe in spending and power of spending comes from credit card. In spite of spending behavior, they are much ahead to us when we talk about Financial Literacy.

India is home to almost 20% of the world's population, however, 76% of its adult population is not even aware of the basic financial concepts. As per survey reports that Financial Literacy in India has been signification poor compared to the rest of the world.