The recent past years of India have witnessed the recognition and importance for spreading financial literacy through various stakeholders like government, regulators, corporates, NGO’s, etc. Financial Literacy Advisory Board India (F-LAB India), an initiative of American Academy of Financial Management India (AAFM India), a non-profit organization established under Section 25 of the Companies Act, 1956 to promote Financial Literacy in the country with its mission “to create a Financially Aware and Empowered India” in association with AAFM India.

Given the fact that India is possessed with large population and diverse demographics, an economy developing at a rapid rate with a national focus on inclusive growth, there is crying need to develop the financial system which is more effervescent, therefore it has now became the need of the hour with the coming Regulations on Financial Advisors to formulate and implement various Financial Literacy initiatives to create a financially aware and empowered India by reaching the investor community. F-LAB India would work towards such various initiatives by closely working with the Government, Regulators, Financial Services Companies, Intermediaries, Banks, Educational Institutes, etc. The formulation and implementation of various initiatives on Financial Literacy will reap rich benefits to the India’s Financial System and can lead to:

• Inclusive Growth, Financial Inclusion & Financial Education
• Knowledge and skill
• Freedom from exploitation
• Avoidance of over indebtedness
• Shifting of Pension Responsibility from State / Corporations to Individuals
• Deeper participation in Financial Markets