About 76% of Indian adults do not adequately understand key financial concepts, including risk diversification, inflation and compound interest, a survey.
In India, 26% of adults in the richest 60% of households are financially literate, compared to 20% of adults in the poorest 40% of households. Only 14% of Indian adults correctly answered the question on risk diversification. Conversely, 56% answered the inflation – question correctly.
Contributed By Sonia Narula