Kredent InfoEdge is successfully educating young Indians about financial markets
Financial literacy is the ability to use skills and knowledge to take effective and informed money-management decisions. For a country like India, this plays a bigger role as it is considered an important adjunct in the promotion of financial inclusion and ultimately financial stability.
As per a global survey by Standard & Poor’s Financial Services LLC (S&P) less than 25 per cent of adults are financially literate in South Asian countries. For an average Indian, financial literacy is yet to become a priority. India is home to 17.5 per cent of the world’s population but nearly 76 per cent of its adult population does not understand even the basic financial concepts.
Yes. Lack of financial literacy is a sad reality in India. However, some bright minds are tapping into this very space and investing their time and energy in educating Indians. Three young souls, Vivek Bajaj, Vineet Patwari and Vinay Pagaria are exactly doing the same through their fintech organisation named Kredent InfoEdge. Their aim is to build a complete ecosystem of financial management, which would guide a user to learn, analyse and participate in various financial products in the right manner.
Kredent’s story started back in 2006 when Bajaj, armed with an experience in trading in the derivatives market and working as a commodities analyst at JM Financials, set up an exchange desk for trading in equities and commodities.
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