Star­tling Facts

Consumer Voice - - Financial Literacy And You -

As per Cen­sus of In­dia, 2001, only per cent of the peo­ple use any kind of fi­nan­cial ser­vices. In terms of over­all fi­nan­cial lit­er­acy in the Asia-Pa­cific re­gion, In­dia is at the bot­tom among 1

coun­tries ( Master­Card In­dex for Fi­nan­cial Lit­er­acy – 2013). Ac­cord­ing to a sur­vey con­ducted by In­ter­Me­dia in 201 –14, only 2 per cent of ur­ban-poor adults (18+) re­ported hav­ing a reg­is­tered bank ac­count, and out of those, only 45 per cent re­ported ac­tively us­ing it dur­ing the last 90 days, which trans­lates into only 13 per cent of ur­ban-poor adults. Most ur­ban poor, who have a reg­is­tered bank ac­count, hold only sav­ings ac­count (98 per cent).

Hold­ing other ac­counts such as cur­rent or re­cur­ring de­posit ac­counts was not com­mon. Delhi is home to 85 slum clus­ters, with more than 418,000 house­holds liv­ing on land owned by gov­ern­ment au­thor­i­ties, in­clud­ing Delhi Can­ton­ment Board, CPWD/L & DO, Delhi gov­ern­ment, DUSIB, MCD, NDMC and Rail­ways.

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