Financial literacy key to stability: RBI’s Chakrabarty

kcchakrabarty

KC Chakrabarty, a deputy governor at the Reserve Bank of India, said on Wednesday that financial regulators and financial ombudsmen must be more active in their efforts to improve financial literacy.

At the Annual Conference of the International Network of Financial Services Ombudsman Schemes in Vancouver, Canada, Chakrabarty said: “It is widely believed that the complex financial instruments that contributed to the financial crisis essentially had their basis in the boom period home loans, the

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