At an event organized by Indian School of Business, SBI chairperson reported that to intensify the domestic participation of people in financial field, lack of financial knowledge among the people needs to elevated. She further added that if people lack knowledge, then we will always dependent on foreign investors, we will never be able to bring the changes, we won’t be able to become self dependent.
She insisted that the financial knowledge is very important and should be taught at the school level.
Citing the example of her friend who invested 10 lakh in Shradha group, which is longer operative, she explained that not only the villagers, but even the highly educated people who lack financial knowledge got cheated by the people. According to her financial illiteracy needs to be elevated so that people understand the market, and do not fall in to the hoax schemes. And this will help them to deepen the people’s interest in financial field.