FINANCIAL INCLUSION THROUGH FINANCIAL LITERACY: RECENT INITIATIVES IN INDIA

Financial literacy  plays an important and fundamental role in financial decision-making. Financial inclusion and financial literacy are two important keys for the economic development of any country. Financial literacy is the road map for the success of efforts put forward by government for the financial inclusion in the country. Financial literacy is the awareness, knowledge, attitude, behavior, and skill needed to understand and use financial tools to make informed financial decisions and achieve personal financial well-being.

Financial inclusion is an essential driver to accomplish financial development. Financial education can be an effective way to promote  financial inclusion. It boosts the understanding of financial and insurance products, encourages responsible financial behaviour and gives people the confidence to take control of their finances. Improving the level of financial literacy is one of the keys to increasing financial inclusion. This paper covers the concept of Financial Literacy and Financial Inclusion, the relationship between the Financial Literacy and Financial Inclusion.

The main objective of the study is examine the financial literacy initiatives that are taken for the  development of financial inclusion in India.