Article Details

An Analysis upon Effectiveness of Financial Education/Literacy in India: Current Scenario | Original Article

Parmod Kumar*, in Journal of Advances and Scholarly Researches in Allied Education | Multidisciplinary Academic Research


Different government agencies, endeavors, corporate, conglomerates, educationists, Non Governmental Organizations and so forth need to accentuation more on Financial Literacy and Financial Education. There is a desperate need to manage policy changes concerning financial literacy at national level. It is inescapable for any country to increment financial literacy as its advantages society at full scale level. There is plenty of venture choices for channelizing income to speculations introduce in the present financial market. Low level of financial literacy hampers financial basic leadership, so the opportunity has already come and gone to find a way to elevate financial education to the masses. The financial market has been significantly changing after liberalization and has been putting forth a few open doors for speculator as well as for the corporate. Today financial services are becoming more open, financial market offers bunch of items with mind boggling highlights and services, leaving numerous people poorly outfitted to cope up with the complex financial needs. The economies around the globe have progressively considered financial literacy as a key column for the development of their financial framework. The financial education has grown a considerable measure from its pre liberalization starting to the present day conditions of post liberalization corporate period. The present investigation takes into accounts the distinctive measurements of financial literacy and education in India i.e. financial education its importance, determinants and, part of administrative experts in India. The investigation concludes that the procedure for enhancing financial prosperity of people in India ought to center the youthful investors. In the current financial emergency, kids and youth are exceptionally affected by family unit finance complexities. Snapshots of financial inconvenience are open to instruction open doors for kids and youth to find out about personal finance and to enhance their own particular cash management skills. Nonetheless, comprehensive methodologies for educating them about personal finance have not yet risen. This survey of the writing investigates the condition of youth financial education and policy, including definitions and measures of effectiveness. Outlining a scope of ways to deal with the conveyance and appraisal of youth financial education, this paper investigates affect information and best practices and features a few controversies.