Financial illiteracy an obstacle to Growth

It’s 25th Dec 2020 morning at 10 am. I called my friend Rakesh, he mentioned that he is on his Christmas holidays to Ooty. I said WHAT ?. I had my surprise attack when he mentioned that he is on a “Credit card vacation” !!! “India is home to 17.5% of the world’s population and according to a survey conducted by Standard & Poor’s, over 76% of adults in India lack basic financial literacy and fail to understand the most basic financial concepts.

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