Financial Literacy Week 2023

February 13, 2023

Financial Literacy Week is celebrated between February 13 and February 17. The celebrations are organized by the Reserve Bank of India. RBI will conduct a mass media campaign to spread financial awareness during the week. The week is celebrated by the central bank since 2016. The main objective of the week is financial education.

Theme of Financial Literacy Week 2023

Good Financial Behaviour – Your Saviour

The theme of this year’s Financial Literacy Week aligns with the goals of the National Strategy for Financial Education. The plan aims to build a financially resilient India. Also, it will create financial awareness among the public. This week’s celebrations are based on this plan. In 2023, the RBI will focus on spreading the importance of financial savings, planning, and efficient budgeting.

Need for the Financial Literacy Week

In India, only 27% of adults are financially literate. Financial literacy is completely different from literacy. Though the literacy levels of the country are increasing; there is no significant increase in the financial literacy levels. Understanding financial concepts and using the money earned efficiently is financial literacy. This includes budgeting, managing credit, investing, etc. Many literates are unaware of the basic principles of stock markets, equity funds or mutual funds. Such knowledge is essential to invest in the right place. This will help in the overall economic growth of the country.

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