MoneyIQ

Why MoneyIQ?

It’s a well known fact that there’s extreme income inequality in our country. Studies indicate that the top 1% controls about 82% of our wealth. On the contrary, about 57% of regular Indian employees earn less than Rs 10,000/ (State of Working India Report of Azim Premji University). Only 1.6% of the total workforce earn Rs 50000/- per month. Regular employees report average monthly earnings of Rs 13,562/- and non-regular workers make about Rs 5853/-. The condition of rural folks is even more precarious. While those holding 1 Ha or more land are deemed to be in the subsistence economy; the average size of landholdings of 67% of rural households is 0.39 Ha. In such a scenario, we can’t expect huge domestic savings, investments in money markets and equitable capital formation. The core crux of the issue is lack of opportunity, inaccessibility to digital economy, lack of financial and economic literacy. Tenon10 proposes to conduct a series of Financial Literacy programs across the focus groups of the rural, suburban and provincial milieu to make them aware of the opportunities and handhold them to help mitigate the problem of indebtedness and become intelligent consumers of modern financial instruments.

Key Challenges Faced by the Focus Groups:

Tenon10 Focus Groups:

Tenon10 basically focuses on the School Children, College Students, Newly Weds, New Career Entrants, House Wives, Women Self Help Groups etc; offering them, in the process, customised value added programs and services to enable them actively participate in the story of ‘New Economy’ in India.

Transformation through MoneyIQ: