Role of Commercial Banks in Financial Literacy

By : Selvakumar M , Anbuchezhienkamaraj P , Sathyalakshmi, V. , Mohammed Abubakkar Siddique

Page No: 186-197

Abstract
Financial literacy is the knowledge, ability and skill to understand, control and use one’s financial resources wisely, ultimately leading to the well-being and economic security of oneself, one’s family and the economy as a whole. In today’s world financial literacy is important to every individual who wishes to select the best way to carry out payments and take care of banking issues.Financially literate consumers create competitive pressures on financial institutions to offer more appropriately priced and transparent services, by comparing options, asking the right questions and negotiating more effectively. The current paper examines the role of commercial banks in financial literacy.

Authors :
Selvakumar, M : Assistant Professor, P.G. and Research Department of Commerce, Ayya Nadar Janaki Ammal College, Sivakasi, Virudhunagar District, Tamilnadu.
Anbuchezhienkamaraj, P : Assistant Professor, Department of Commerce, Arulmigu Kalasalingam Arts and Science, Krishnankoil, Virudhunagar District, Tamilnadu.
Sathyalakshmi, V : Full time Ph.D Research Scholar in Commerce, P.G. and Research Department of Commerce, Ayya Nadar Janaki Ammal College, Sivakasi, Virudhunagar District, Tamilnadu.
Mohammed Abubakkar Siddique, R : Full time Ph.D Research Scholar in Commerce, P.G. and Research Department of Commerce, Ayya Nadar Janaki Ammal College, Sivakasi, Virudhunagar District, Tamilnadu.