The Reserve Bank of India (RBI) has issued National Strategy for Financial Education 2020-2025 to create a financially aware and empowered India. There is a need to empower the various sections of the population through different skills such as knowledge, attitude and behaviour which are required to manage their money better and plan for their future.

Objectives: -
• Inculcating Financial literacy amongst the population.
• Encourage the behaviour of active savings.
• Encouraging the participation of population in the financial markets so that they can plan better for the future.
• Encouraging people to invest in credit facilities and avail benefits under the credit schemes.
• Improve the usage of digital methods used in financial services.
• Plan for various stages of life financially.
• Plan for proper pension and affordable old-age life.
• Imparting knowledge regarding right and duties in cases of grievance redressal.
• Improve research and evaluation methods in the financial markets.

Key-learnings from the strategy:
• One-size fit approach to deliver financial literacy amongst the population.
• The language should be vernacular so that people are more accustomed towards understanding the financial norms properly.
• Using different digital modes to enhance the financial literacy amongst the people.
• Practical training and awareness programmes shall be introduced so that the financial independence can be taught to people properly.
• Financial education programmes should be well constructed so that the people can understand it properly.
• Safe digital practices should be adopted by the people.

Take the step forward and automate statutory compliance management today! Visit our website www.avantis.co.in or Call us at 8893594595 for details or schedule a demo.