Take money matters to school | Business Line

Take money matters to school | Business Line

Online comments posted on November 25, 2013:

The article tells us the reasons for the tardy progress being made in the avowed objective of Financial Inclusion even after a country-wide awareness drive by RBI during the last couple of years.
The real financial position, like truth, is kept concealed by all financial managers including US Treasury managers down to the head of a BPL family in India from the persons who should be aware of the position. If the tax-payers in the US and the school-going child of the BPL family was aware of the 16 trillion dollar debt and how the monthly fees is being paid respectively, that awareness will bring changes in the expenditure patterns of the country and the family respectively.
The observation that ‘the line between genuine financial advice and product recommendations often gets blurred’ is too mild. Whether it is NPS or a simple term life insurance policy the advice comes in the form of ‘sales talk’ only. To bring about any change in the position, the best option is including finance as a compulsory component in the education module right from Class VII. If this is done, the approach to savings, borrowing and spending will undergo a change for the better as observed in the three concluding paragraphs.
M G Warrier, Mumbai


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