MARKET regulator, Securities and Exchange Board of India (Sebi), will help the mutual fund industry in its efforts to increase financial literacy, a senior Sebi official said. "Sebi is keen on focusing on investor education. It will help the mutual fund industry in its efforts to increase financial literacy," Sebi chairman, C B Bhave, said here. "Our big challenge is investor education and financial literacy. Investors should get the scheme information document in regional languages," Mr Bhave said. He said that the mutual fund industry was at the crossroads and should not expect results in six months. "It is always difficult to accept change but if you are confident that the change is good for the consumer you accept it eventually," Mr Bhave said. On the issue of financial literacy, he said that it is a big challenge due to the vastness and diversity of the country. The importance of having the messages (of financial literacy) in regional languages cannot be emphasised enough, he said.
WE ARE all familiar with the anxiety and uncertainty that we feel when applying for a loan. After all, it's the lender who decides whether we can own our dream home, our first car, or whether our children can pursue higher education. In a nutshell, a better life depends on the lender's decisions. While other factors do play a part in the lender's decision, the Cibil Credit Information Report ( CIR ) plays a crucial role in a lender's decision to approve a loan application. Previously, lenders would treat all loan seekers equally. Each applicant, if approved by the lender's internal credit policy, would be charged at the same interest rate for a particular loan size and purpose. The lenders would charge a higher interest rate to all the borrowers, in order to compensate for the possible default of a small portion of the loan disbursed. In other words, it's like a professor (the lender) punishing an entire class (borrowers) for the mischief played b...
