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Platforms Which Are Enabling Financial Literacy In India

Finance literacy is a tool which can improve financial capability of our youth and communities, it is an aid to understand investing, budgets, debt, savings and taxation as well.

Times like Covid has taught everyone the importance of financial literacy and has emphasized on the fact that an ability to make financial decisions and skill sets to manage finance is crucial for a better sustained future, to become self-sufficient and to achieve financial stability. Finance literacy is a tool which can improve financial capability of our youth and communities, it is an aid to understand investing, budgets, debt, savings and taxation as well.

Below listed are 5 companies to enable financial literacy in India.

Groww: Founded by Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, Groww is the fastest-growing investment platform in India which offers a fun and easy way to invest in Stocks, Mutual funds, IPOs, ETFs, and Gold. Headquartered in Bangalore, Groww is backed by marquee investors including Sequoia India, Y Combinator, Ribbit Capital and Tiger Global. Over 15 million users across 900+ cities in India trust Groww for their investment needs.

Groww facilitates its users by providing them with educational blogs on finance related topics which users can read and share. They not only limit to benefit the users on their website, their YouTube channel is equipped with educational videos as well. Thrive by Groww is an initiative to bring together the smartest minds of India to talk about money.

TradeSmart: is a new age technology focused discount online broking firm that simplifies investments for young & tech savvy Indians. Registered as VNS Finance & Capital Limited in 1994, the company has a strong lineage of over 25 years in the brokerage segment. A member of NSE, TradeSmart provides online trading in – Cash, Futures & Options, Currency Derivatives, Commodities, Mutual Funds and ETFs for investors and online traders.

TradeSmart offers simplified products – SINE, SWING, SWING API, BOX and TradeSmart MF. Backed by a robust security system and deep technology, the apps enable easy and secured transactions for customers all across the country.

TradeSmart benefits its users with the informative blogs on IPO, trading, stocks, investments, share market and much more. TradeSmart also conducts informative webinars on YouTube.

Junio: It is a first-of-its-kind digital pocket money app for children in their pre-teens and teens. The main aim is to enable kids to take charge of their own pocket money and savings with the help of their parents. The idea is to nurture financial literacy and discipline in them at an early age. Junio also enables instant fund transfer, notifications and flexibility to cancel the card at any moment through the app.

With the Greenlight debit card and app in the US, kids earn money through chores, set savings goals, spend wisely, and invest. Parents set flexible controls and get real-time notifications every time their kids spend money. Likewise, Junio is providing services to its customers in India.

Vital: It is a leading health-tech startup that brings affordable, digital health plans build around to cover both big and small expenses build exclusively around your health conditions & lifestyle habits to customize both your insurance & benefits which is the key idea behind the business.

On a mission to simplify health insurance for all Indians and give them a better health cover, Vital is a next-generation platform offering tailor-made, comprehensive and pocket-friendly health plans and knowledge about health and health cover designed specifically for every member’s individual needs. The vision of Vital is to be involved in the entire health journey of its members by helping them live healthier, sharing the right knowledge and information, and being with them in case they do fall sick, through a simple, intuitive, mobile-first customer experience.

SmartCoin: Financials is India’s first fully-automated next-gen Fintech company aiming to address the credit requirements of in numerous self-employed micro-entrepreneurs, micro-merchants and middle/lower-income salaried individuals by leveraging advanced data science and Machine Language algorithms. The platform intends to serve the hitherto under-served customers through a comprehensive digital interface across India.

SmartCoin is promoting financial literacy by рrоviding ассess tо finаnсiаl services аnd рrоduсts tо аll individuals аnd businesses at аffоrdаble соsts, in а timely mаnner so that they get tailored tо their needs. SmartCoin not only offers loans but proactively educates customers about maintaining a good credit score and positively reinforces good borrower behaviour. The company generates awareness among customers to save, invest and improve their circumstances. The team is committed to being a responsible consumer lender focusing on affordable loans, fair underwriting, and data security.

Source: Business World

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