They need to understand that for their business to survive, their customers must  BIS central bankers’ speeches  3  survive and for that, they need to understand the appropriateness of the products themselves to be able to explain it to their customers.
Very often the frontline counter staffs of banks do not know all the features of the products being offered to the bank customers Institutional framework in India Now coming to the institutional framework created in India for the spread of financial literacy, I would like to mention that we are among the very few countries where an apex body namely the FSDC chaired by the Union Finance Minister with heads of all financial sector regulators as members has been mandated, inter alia to focus on spread of financial inclusion and financial literacy.