Versha Jain
Financial literacy is understanding financial products and concepts, like budgeting, saving, investing, simple and compound interest, insurance, inflation, etc., and making informed decisions.
Financial behaviours like attitude, discipline, and awareness of money management are critical parts of financial literacy.
The Reserve Bank of India organises Financial Literacy Week and other Awareness campaigns to highlight the urgent need for financial literacy.
Financial Literacy Week is organised annually around mid-February to help people understand financial concepts and their importance.
Financial knowledge enhances decision-making abilities, independence, and financial stability. It helps handle challenges and use funds effectively, ensuring a stable future.
Seek help from financial advisors, certified financial planners, and registered investment advisors to gain financial knowledge.
Gain insights into financial products and concepts like debit and credit cards, bank accounts, insurance, and interest rates, from the internet, newspapers and magazines.
Compiled By Himani Verma