Reap rich dividends: Early exposure to financial literacy will help students become financially-savvy
Indians are well-known for their astute thinking when it comes to money. However, when it comes to understanding investment and financial diversification, there is a distinct lack of knowledge and investment appetite.
One of the biggest disadvantages of the current education system is its apathy to financial knowledge. Young professionals find it hard to file their taxes, understand the equity markets, or practise trading and investment because not enough emphasis is given to teaching students about managing money.
A majority of Indian households prefer to save money in bank deposits, while less than 10% opt to invest in alternative assets, including stocks or mutual funds. In fact, gold, post-office savings and real estate get priority over stock trading and investment.