Financial Literacy: an Initiative Taken by the Government of Karnataka

Abstract

Financial literacy is essential to effectively manage their finances, make wise decisions, and prepare for their short- and long-term financial goals, people need to have a strong grasp of finance. It gives people the power to take charge of their money and make wise financial decisions that fit their needs and objectives. For good financial wealth, one needs to develop and grasp this life skill. Saving, planning, investing, and handling loans and interest are all aspects of financial literacy. Poor financial decisions brought on by financial illiteracy may harm a person's ability to manage their finances. Therefore, the Government has to take proper measures to develop the financial education among the people in the country. With this backdrop the present paper tries to explore the initiatives taken by the Government of Karnataka to promoting and developing the financial literacy among the people.