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Among the given, which of the following statement is correct in context of financial literacy?
  • a)
    Financial Literacy is the process by which people improve their knowledge and understanding of the use of financial products and services.
  • b)
    It is also described as one's ability to make informed judgements and to take effective decisions regarding the use and the management of money.
  • c)
    The financial literacy is promoted by the provision of financial education and is a prelude to financial inclusion in villages.
  • d)
    All of the above
Correct answer is option 'D'. Can you explain this answer?
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Among the given, which of the following statement is correct in contex...
  • Financial Literacy is the process by which people improve their knowledge and understanding of the use of financial products and services. It is also described as one's ability to make informed judgements and to take effective decisions regarding the use and the management of money.
  • The financial literacy is promoted by the provision of financial education and is a prelude to financial inclusion in villages. Financial literacy, besides acquiring and/or acquainting with the information on financial services through the process of financial education by an individual, is a state of mind at which the individual is equipped with the skills necessary to access resources to make him capable of dealing with financial intermediaries, like banks.
  • The delivery of financial education comprises of three key themes: building skills, increasing knowledge and developing understanding and within each of these an individual's confidence should also be developed, which alone will pave way for faster financial inclusion of the hitherto excluded population in the rural areas. One of the aims of financial education is to guide the rural population in management of existing debt and the exit methods.
  • Hence, option (d) is the correct choice.
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Among the given, which of the following statement is correct in context of financial literacy?a)Financial Literacy is the process by which people improve their knowledge and understanding of the use of financial products and services.b)It is also described as ones ability to make informed judgements and to take effective decisions regarding the use and the management of money.c)The financial literacy is promoted by the provision of financial education and is a prelude to financial inclusion in villages.d)All of the aboveCorrect answer is option 'D'. Can you explain this answer?
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Among the given, which of the following statement is correct in context of financial literacy?a)Financial Literacy is the process by which people improve their knowledge and understanding of the use of financial products and services.b)It is also described as ones ability to make informed judgements and to take effective decisions regarding the use and the management of money.c)The financial literacy is promoted by the provision of financial education and is a prelude to financial inclusion in villages.d)All of the aboveCorrect answer is option 'D'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Among the given, which of the following statement is correct in context of financial literacy?a)Financial Literacy is the process by which people improve their knowledge and understanding of the use of financial products and services.b)It is also described as ones ability to make informed judgements and to take effective decisions regarding the use and the management of money.c)The financial literacy is promoted by the provision of financial education and is a prelude to financial inclusion in villages.d)All of the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Among the given, which of the following statement is correct in context of financial literacy?a)Financial Literacy is the process by which people improve their knowledge and understanding of the use of financial products and services.b)It is also described as ones ability to make informed judgements and to take effective decisions regarding the use and the management of money.c)The financial literacy is promoted by the provision of financial education and is a prelude to financial inclusion in villages.d)All of the aboveCorrect answer is option 'D'. Can you explain this answer?.
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