Authors: Ardhendu Shekhar Singh; Bhama Venkataramani
Addresses: Symbiosis School of Banking Management (SSBM), Symbiosis International University (SIU), Lavale, Pune – 412115, Maharashtra State, India ' Symbiosis School of Banking Management (SSBM), Symbiosis International University (SIU), Lavale, Pune – 412115, Maharashtra State, India
Abstract: The significance of financial education as a transformation agent in the financial inclusion agenda of the nation is undisputed in academic as well as practitioner's circle. This paper discusses its impact on the financial well being of the people and further highlights the steps taken by various stakeholders to provide financial education with an objective of increasing the understanding of consumers about financial services. Even so, these interventions have result which is less than desired. Given the gigantic task of providing financial education to a large section of a populous country like India, there is a need for committed participation of each stakeholder and a sustainable action plan in place. Through this paper, the authors argue that engaging institutes of higher education in the financial education drive will be a sustainable and cost effective strategy.
Keywords: financial education; higher education institutes; financial inclusion; financial well-being; financial services; consumer understanding; India.
International Journal of Business and Globalisation, 2014 Vol.12 No.4, pp.401 - 412
Published online: 22 Jun 2014 *Full-text access for editors Access for subscribers Purchase this article Comment on this article