The central government needs to take initiatives to increase financial literacy, founder and CEO of CRED Kunal Shah said.
"The level of awareness that we have about money and financial literacy is appalling. Around 95 percent of the customers who have credit cards today are the first ones to have them in their family and they do not really know how to use these products. My big ask from the finance minister is to create a nationwide campaign around financial literacy and how money works," he noted.
Shah also called for consistent policies to increase investor confidence. "We need to have a 10-year or 15-year view. If an investor believes that policies around taxes and regulations are changed quite often, then the confidence to invest big dollars behind companies is going to be reduced," he opined.