The findings emanating from such studies could be shared with financial entities to enable them to address the gaps in their service delivery and promote informed decision-making. Fifth, several bodies, such as the Financial Planning Standards Board of India (FPSBI), a professional standards setting body constituted with public-private enterprise, are reportedly making proactive efforts to uniformly regulate personal financial planning practitioners.
Much more of such efforts will be required to guide the development and promotion of standards for financial planning professionals to benefit and protect the public in the country. Role of the RBI The RBI, on its part, wishes to advance the cause of financial education in our country as part of an overall strategy.