India ranks 20th in financial literacy,four spots behind China,in the Asia Pacific Middle Eastern region,says a survey.
India with a score of 60 points occupies the 20th slot in the MasterCard Worldwide Financial Literacy Index for the first half of 2012.
However,China was ranked 16th with a score of 64 points on the index.
Interestingly,Indian women are closing the gender gap on financial literacy as both males and females in the country scored 60 points each on this front.
The survey considered three aspects of financial literacy,including basic money management skills,investment knowledge and financial planning to determine in terms of budgeting,savings,and using credit responsibly.