Abstract
Financial literacy plays a vital role in the efficient allocation of household savings and the ability of individuals to meet their financial goals and goes beyond the provision of financial information and advice. Financial Literacy and credit counselling would help the underprivileged practice parsimony and induce them to save, access credit, use the funds, timely repayment of debt, to find a better livelihood, earn income and thus join the mainstream from exclusion. This paper attempts to discuss the financial literacy initiatives in the Indian Banking Industry. In this context the researcher has attempted to analyse the Initiatives and data pertaining to FLCCs of select SCBs. The study reviews theoretical aspects of Financial Literacy and credit counselling initiatives in general and for scheduled commercial banks in particular.
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