S&P survey: More than 70% Indians fare badly in financial literacy
India's rating lags the worldwide average, but is roughly in line with that of other BRICS nations
Close to 76% Indian adults do not adequately understand key financial concepts, found a global survey conducted by Standard & Poor’s Financial Services LLC. The S&P’s Ratings Services Global Financial Literacy Survey found that this number is lower than the worldwide average of financial literacy, but it is roughly in line with other BRICS (Brazil, Russia, India, China and South Africa) and South Asian nations. According to the survey, three-quarters of Asian adults and two-thirds of adults worldwide are not financially literate.