Role of regulatory bodies in spreading financial awareness – A study of National Strategy for financial education

Financial Literacy and Financial Education plays an important role in Financial Inclusion, inclusive growth and sustainable success. It has been found that the majority of the Indian Population do not use modern financial products. There are several financial products available which consumers find difficult to understand. Financial literacy helps the masses by giving knowledge, confidence and skills to manage those financial products and services enabling them to have more control in present and future situations. Financial education reduces over indebtedness, improves quality of services and makes wise financial decisions. Regulators across the globe are coordinating efforts to have standardization in delivery and development practices in the field of financial literacy with optimum utilization of funds.