Importance of Financial Education in using various Financial Services: Some selected Bank Customers of Dibrugarh Town

Dr.Sarat Borah; Munmi Bordoloi

Volume : VIII, Issue : III, March - 2019

Importance of Financial Education in using various Financial Services: Some selected Bank Customers of Dibrugarh Town

Dr. Sarat Borah, Munmi Bordoloi

Abstract :

Financial education can be defined as the process by which financial knowledge and awareness of any individual can be increased. It is observed that most of the bank customers are not using most of the financial services offered by the banks. In the present context, with the increase in the financial services offered by the banks, it is very important to understand the relation between the financial services and financial education. It is a matter of concern that majority of the people in India, lacking financial knowledge and are not aware about the various services and benefits.Due to lack of financial knowledge, not only the financial market participation is low but also stands as a barrier in achieving the financial inclusion.This paper will be an attempt to study the importance of financial education and use of financial services.