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)
Quote
“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”.
Unquote
