Greater financial literacy and education, together with sound consumer protection mechanisms will ensure that people at the bottom of the pyramid are empowered to take informed financial decisions. This will also enable banks, NBFCs, MFIs, etc. to enhance their customer base and products and diversify their balance sheet. 21.
6  This estimate of assets under management, taken from IMF (2015), is based on the world’s top 500 asset managers at the end of 2013. It includes some double-counting due to cross-investment among asset managers. 7  See Cheshire (2015). 8  See FSB & IOSCO (2015), FSOC (2013) and IMF (2015).