In the 2020-21 annual report by the National Centre for Financial Education (NCFE), a body supported by RBI and other financial regulators, it was revealed that India boasts an overall literacy rate of approximately 80% among its population. However, when it comes to financial literacy, only 27% of the populace possess adequate knowledge in this domain. For women, this figure drops further to around 21%.

In the pursuit of gender financial inclusion, education emerges as a vital catalyst, and the burgeoning rise of financial education (fin-ed) platforms is a promising step in this direction. These platforms play a crucial role in bridging the knowledge gap between men and women, equipping women with the skills to manage their finances and enhance financial literacy. Fin-ed platforms come in various digital forms, including websites, social media channels, and applications.

1. Understanding Financial Literacy: Financial literacy is the cornerstone, involving skills to comprehend and effectively use financial tools. It forms the basis of one’s relationship with money and supports endeavors such as saving for retirement or managing a business. Proficiency in financial terms like ‘interest rates’ and ‘income tax’ is vital.
2. The Six Pillars of Financial Literacy: The six primary domains of financial literacy, as defined by the TIAA Institute, include earning, consuming, saving, investing, borrowing, and managing debt. A well-rounded understanding of these areas is essential for overall financial literacy.
3. Addressing the Gender Gap: Efforts to bridge the gender financial literacy gap are crucial, especially considering its global variations and the onset of confidence gaps from a young age. Research indicates a confidence disparity in personal finance knowledge between young boys and girls.
4. The Role of Financial Education Platforms: Female-oriented fin-ed platforms, like Basis, LXME and Miss Piggy Banks are empowering women by providing knowledge and tools to effectively manage their finances and investments.
5. a) Basis: It is an empowering app designed to enhance financial literacy for women, offering tailored investment guidance and educational resources to help achieve their financial aspirations.
6. b) LXME: Priti Rathi Gupta, a former financial advisor, is revolutionizing finance for women with LXME, a dedicated fintech platform. As a financial feminist, her mission is to empower women by providing financial education and resources through the LXME website and mobile app.
7. c) Miss Piggy Banks: Initiated by former PR professional Shagun Bansali Mehta, it is a user-centric finance platform, designed to address women’s financial concerns by offering tailored financial guidance.
8. Impact on Confidence and Financial Well-being: Enhanced comprehension of financial terms significantly contributes to building confidence, especially among women. This heightened confidence allows women to make informed decisions regarding budgeting, investing, and financial planning.
9. Broadening Horizons and Opportunities: By enhancing female confidence and financial well-being, these platforms play a pivotal role in addressing pressing issues such as the gender pay gap and empowering women to make informed financial decisions. They open doors to better opportunities and financial growth for women.

In conclusion, empowering women through financial education is a transformative approach to close the gender financial literacy gap and foster a more financially inclusive society. It is through such initiatives that we can envision a future where women not only achieve their financial goals but thrive in every aspect of their lives.