Bharat Chamber of Commerce and Financial Planning Standards Board India signed an MoU for providing financial education and professional development in financial planning.

The event was graced by Krishan Mishra, Chief Executive Officer, Financial Planning Standards Board India, Naresh Pachisia, President, Bharat Chamber of Commerce, and others.

The chamber wants every Indian to become financially literate. The majority of Indians are educated, but they lack financial literacy. According to a Reserve Bank of India report released on December 24, 42% of Indians are financially stable, but only 4% have financial literacy. And the main reason we lack financial literacy is that no one has taught us the same thing in our schools, colleges, universities, or places of employment. Therefore, no one has truly taught us these things, which is why our organization is so dedicated to making sure that India gains financial literacy.

“The Memorandum of Understanding with the Bharat Chamber of Commerce is a big step in the right direction. With their help, we want India to become financially literate, especially since we are a country where people have historically saved money. Now is the time to invest and grow that money. Furthermore, it’s interesting to note that Fortune 500 companies worldwide now generate more revenue from investments than from their underperforming businesses. No one has ever become wealthy by working for a living or starting their own business. In other words, it’s essentially knowledge that we want to spread so that people can improve and live better lives,” said Krishan Mishra.

With the help of this MoU, people will now become financially literate and also be able to save and grow their money.

Priyanka Dutta