What sort of Financially Illiterate you are?

           Read this fascinating  Keynote Address delivered by Shri S. S. Mundra, Deputy Governor, Reserve Bank of India at the Conference on Financial Literacy organised by College of Agricultural Banking at Pune on June 15, 2015)

Financial Education: Basics and Beyond

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“Financially Illiterate” can be broadly divided into five categories. Let me explain:

1.     The first form of financial illiteracy, I call ‘Wise Illiteracy’ and people as ‘Wise Illiterates’.

2.     The second category of financially illiterates I call them ‘Greed-driven Illiterates’.

3.     Let me now come to the third category- whom I have named ‘Information- deprived Illiterates’.

4.     The fourth category- I have named ‘Illiterate Illiterates’.

5.     The fifth category of illiterates, I have named as “Kindergarten Illiterates”.

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