Background

India is lagging far behind in financial literacy and inclusion, with only 27% — or less than a third — of the total population being financially literate. Withal, this is far more exacerbated in regions with economic uncertainty and social barriers, while the problem persists in the middle and upper financial classes as well. This also translates into many families and individuals being unprepared for retirement, opting for unsecured forms of loans and borrowing, minimal to negligent insurance penetration rates, and low returns investment decisions.  

In Ludhiana specifically, approximately 90% of the total working population is engaged in the secondary and tertiary sectors, which, when compared to primary sectors, have inconsistent payouts, high and low-volume seasons, and overall stability in financial output. However, effective financial literacy can drastically improve financial management, overall standard of living, and help millions of people make their way out of debts and financial precarity. 

Be the Change was thus conceptualized to address this gap, and help the population of Ludhiana access the knowledge and tools required to improve financial literacy. The aim is to tackle the issue at the root, by simultaneously educating young children and teachers about basic economic and financial concepts so as to bolster their understanding and have a ripple effect for future generations.