With the rapid growth in the retail banking segment in India and the resultant large influx of a growing number of retail borrowers into the banking system, the imperative of adequate financial education can hardly be over-emphasised, specially if the markets are to expand and operate efficiently.
Proper financial education to the bank customers would ensure that they are equipped with the basic financial skills and discipline to manage their budget, by appropriately balancing their expenses, borrowings and savings. The financially educated bank customers would not only be able to afford a better quality of life but could also lead to an improvement in the integrity and quality of the markets.