Therefore, for regulators of financial services, it is necessary to develop programs to promote public awareness for helping people to make informed financial decisions and maintain market confidence; and Finally, financial literacy program adds the missing demand-side dimension to financial inclusion strategies.
Therefore, financial literacy can be a very effective tool to tackle the psychological, emotional and cultural barriers that prevent people from being financially included. Many poor and non-poor people do not have a bank account and very few of them understand why this puts them at a disadvantage when it comes to their personal financial management.