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Indians are among the least financially literate people across the globe with youngsters and women struggling most with their finance knowledge due to lack of discussions within the families on money management issues, says a report by credit card firm Visa.
As per the 'Global Financial literacy barometer', India ranked 23rd among the 28 countries surveyed, with 35 per cent of its population termed financially literate. Brazil topped the ranking with 50.4 per cent of its population as financially literate followed by Mexico (47.8 per cent), Australia (46.3 per cent), the US (44.6 per cent) and Canada (43.8 per cent).
The study, conducted among over 25,000 people in 28 countries, expressed concern that Indian families do not frequently talk to their children about money management issues discussing finances with their children only 10 days a year compared with the global average of 19 days a year.
"Despite this, Indians felt confident that teenagers and young adults are adequately prepared to manage their own finances," the survey said.
Indians among least financially literate people: Survey | Deccan Chronicle
As per the 'Global Financial literacy barometer', India ranked 23rd among the 28 countries surveyed, with 35 per cent of its population termed financially literate. Brazil topped the ranking with 50.4 per cent of its population as financially literate followed by Mexico (47.8 per cent), Australia (46.3 per cent), the US (44.6 per cent) and Canada (43.8 per cent).
The study, conducted among over 25,000 people in 28 countries, expressed concern that Indian families do not frequently talk to their children about money management issues discussing finances with their children only 10 days a year compared with the global average of 19 days a year.
"Despite this, Indians felt confident that teenagers and young adults are adequately prepared to manage their own finances," the survey said.
Indians among least financially literate people: Survey | Deccan Chronicle
