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Financial literacy week from Feb 13 to Feb 17

Published on February 13, 2023
Current context: The Reserve Bank of India (RBI) is celebrating Financial Literacy Week from February 13 to February 17 to promote financial awareness. Since 2016, the central bank has organized the week with the main goal of educating people about finances.
Financial literacy week from Feb 13 to Feb 17
  • As part of the celebrations, the RBI will conduct a mass media campaign to spread financial awareness.
  • This year's Financial Literacy Week theme is "Good Financial Behaviour – Your Saviour," which is in line with the National Strategy for Financial Education.
  • The objective of the plan is to create financial awareness and build a financially resilient India. The 2023 celebrations will focus on the importance of financial savings, planning, and efficient budgeting.
  • Financial literacy is different from literacy, and only 27% of Indian adults are financially literate. While literacy rates in the country are increasing, financial literacy levels have not kept pace. Financial literacy involves understanding financial concepts and using money efficiently, including budgeting, managing credit, and investing.
  • Many literate individuals are unaware of the basics of stock markets, equity funds, and mutual funds, which are essential for investing wisely. Increasing financial literacy is critical to the overall economic growth of the country.


Q.1 Which of the following is the main objective of Financial Literacy Week organized by the Reserve Bank of India?
a. To promote financial awareness and educate people about finances.
b. To celebrate the achievements of the Indian financial sector.
c. To increase financial literacy rates in India.
d. To conduct a mass media campaign for the financial sector.

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