Time for a national financial literacy policy

.....Investments by households have been more into either bank fixed deposits, riskfree government- backed securities and low- yielding instruments, or in non- financial assets. A majority of our households do not use modern financial markets. As per an RBI report, only 1.4% of household savings was invested in equity, mutual funds and debentures in 2003- 04. Though this went up to about 4% in 2005- 06, it is still very small. Unless the common person becomes a wiser investor and is protected from wrong doings, wealth creation for the investor and the economy will remain a distant dream. We need to convert a country of savers into a nation of investors.......

Read - FPJ