MISSING INSURANCE IN INDIA

Financial literacy and financial inclusion are amongst key factors reflecting any economy's development stage.

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Pradeep Kandoi, Former AVP - Finance, Greenpanel Industries

Pradeep is a qualified Chartered Accountant and Company Secretary having core competency in treasury management, corporate finance, project reports, internal controls, process development and implementation, MIS management and financial reporting.

Better financial literacy implies a larger population having the necessary awareness about and access to varied financial products (viz. banking systems, savings products, credit products, transaction systems, and insurance). Of these, Insurance is still least known to a larger part of India’s population. Even amongst those who have product awareness, very few possess the capability to differentiate between ‘pure insurance’ and 'insurance cum investment' products.