Financial Literacy--Is it necessary? Yes it is. Financial Literacy--Is it necess

1. 41

   pramodgokhaleposted 11 years ago

   Financial Literacy--Is it necessary? Yes it is.
   Financial Literacy--Is it necessary? Yes it is.
   
   In India kolkatta city one NBFC duped depositors for millions of rupees. One depositor committed suicide.In India there are chit funds, Non banking finance companies. Over the years They collected money from the people and lost in speculation in stocks and fled.This is frequently happening.Why people are crazy for higher earning in short period? These investments are not guaranteed by central government. It is necessary to guide people and to protect their interests.
   Fly by night operators are simply taking investor for ride.
   The people believe fake ads. Government should monitor NBFCs

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2. 63

   Hridyapal-Bhogalposted 11 years ago

   What's exactly your question? Is it possible for you to be a bit more precise?
   
   This topic is good for an entire Hub. Probably you should take this up as one!

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   1. 41

      pramodgokhaleposted 11 years agoin reply to this

      Sir, This is for investors not to invest money in bogus nbfcs and better look for safe options like government securities and play safe.It is necessary to prevent them not  to get into trap of such nbfcs.
      read another comment here.
      pramod gokhale

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3. 60

   MickSposted 11 years ago

   The financial industry does not want the general population to be financially literate.
   In the UK, we have just started a plan that will include financial literacy in the curriculum.  I would lay good money that as soon as students come out of school financially savvy to the current  metthods and terms, the financiers will invent a new lot.

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   1. 41

      pramodgokhaleposted 11 years agoin reply to this

      MickS
      thank you very much for answer. It is necessary to guide people and bankrupt companies can not pay depositors money and litigation goes on years after years.

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