Shamika Ravi: Financial Literacy is a Core Life Skill to Secure Savings

• Shamika Ravi, Member of the Economic Advisory Council to the Prime Minister, inaugurated the NSE IHC Financial Literacy Initiative.
• She emphasized financial knowledge as a "core life skill," comparing it to driving or swimming, essential for managing personal assets.
• Ravi highlighted a significant gap in financial understanding, even among highly educated professionals, who struggle with basic concepts like interest rates.
• She noted that many people lack fundamental knowledge about regulated entities, citing Chit Funds as an example.
• Ravi stressed that financial literacy must be treated as a public good, integrated into schooling, and is crucial for mobilizing savings into investments.