More than sixty percent people of Bharat is living in rural area. They are doing agriculture and small small business in those areas. The business activities are like shoe shop, clothing shops, medicine stores, small restaurants, electric shops, variety stores, fancy stores, gift stores, sweet shops etc. carried out by them.In agriculture they are usually growing cereals, pulses, oilseeds, vegetables and fruits. There are various topography in Bharat. People are living in coastal area, people are living in hilly terrains, people are living in high hilly areas, specifically tribal areas.
So the above factors have tremendous impact on financial literacy in Bharat. Another important factor is education. The level of education varies from places to places. In coastal ares the percentage of education is more than hilly or tribal or difficult areas where the communication is very poor from the cities. Also in tribal areas specific languages are being used which are not the medium of instruction language in the states. Also social behavior, discipline, interest to learn, the purpose of being educated, the purpose of literacy, the benefit of literacy, the purpose of educating their children, the value of morality in life, the hunger, lack of dreaming to uplift their lifestyle above below proverty line, lack of rationality, lack of ethics, misguidance of political people, giving wrong notion about the system by notorious people or anti-nationals are the reasons which keeps our people out of financial literacy.
Another Important reason is lack of use of electronic gadgets like mobile, smart phones, Android phones etc. Less adoptance to modern technologies due to illiteracy also plays Important role in not getting financially literate. Lack of motivation also one of the main reason of not getting financially literate. Absence of government or private organization who will take part in motivating people and giving the training about financial literacy in remote areas regular basis.
Basics of financial literacy are as follows:-
- How to read and write numerals?
- How to do basic addition and substraction?
- How to fill up different vouchers which are being used for different financial transactions? Examples like deposit vouchers, withdrawal vouchers, vouchers for NEFT, vouchers for RTGS etc.
- How to fill up loan application forms?
- Educate the people about the various government financial benefit schemes.
- Educate the people about various saving or deposit schemes.
- Educate the citizens about the basic documents for opening of any saving accounts or current accounts?
- Educating the citizens of Bharat about KYC documents and it's importance.
But now there is another challenge in front of us. How to educate them about mobile payment systems? It's benefits and risks. But before that every house hold should get basic education of leaning letters and numerals. In rural areas the ages between 40- 70 years of ages people are vulnerable group in not getting Education which is very much necessary for financial literacy and in the development of economy of our country Bharat.
Jay Hind.
