“It is my firm belief that Mumbai University will be central to the emergence of the nation’s commercial capital as a global centre for finance and commerce,” he noted.

Believe it or not!

• Half of India's 12 crore farm households have never borrowed from a bank or FI

• Half of India's 32.1 crore paid workers do not have access to banking or financial services

• Only 53 lakh of 32.1 crore paid workers invest in MFs, 43 lakh invest in equities

• Moneylenders' share in rural lending rose between 1991 and 2003

• Total life insurance policies (as on March 31, 2007) was 22 crore, total number of non-life insurance policies was 5.75 crore

• Only 60% urban households, 40% rural households have a bank account

• Most Canadians feel choosing right investment is more stressful than visiting a dentist

• Only 28% Australians understand the concept of compound interest

• Most Britons do not seek out financial information

• Most Korean high-school students failed in a credit card management test

• Four out of 10 US workers are not saving for retirement