New Delhi, March 27 -- Inaugurating the NSE IHC Financial Literacy Initiative on Thursday, Shamika Ravi, Member of the Economic Advisory Council to the Prime Minister, described financial knowledge as a "core life skill" equivalent to knowing how to drive or swim.

"Financial literacy is like a core life skill, it's like knowing how to drive, like knowing how to swim. And of course, you can stay away from the water and perhaps hire a driver or use public transport if you are in a city like that. But how do you stay away from financial knowledge? It's part of your core assets you're working hard to build," she said.

During her keynote address, Ravi emphasized the necessity of an institutional platform to address a problem that the country...