Indians'' fin literacy levels better than most others: Survey

Mumbai, Jan 14 (PTI) Indians have better financialliteracy levels than most others globally and rank second outof 10 leading nations in having a basic financial literacylevel, a survey said.

"Indians turn out to be the second out of 10 leadingnations in the world to have a basic financial literacy level(55 per cent), just behind the Japanese, an ING ConsumerResourcefulness Survey, said.

A majority of Indian consumers have not only shown betterskills in managing their household financial budget but arealso confident of facing any financial impediments in futureas compared to citizens of nine other countries, the surveysaid.

The survey was carried out amongst 5,000 consumers acrossten major nations, including India, the USA, Mexico, TheNetherlands, Romania, Poland, Belgium, Spain, Korea and Japan.

The survey shows that a whopping 84 per cent of Indiansprefer buying life insurance products as compared to 54 percent globally. A similar percentage of Indians believe inmaintaining a household budget with a focus on savings.

"The survey shows that Indians are better at managingtheir finances than most of the other countries in the survey,including being better prepared for their various lifestages,especially retirement," ING Life India''s Chief Marketing