Financial Literacy Programme for Students

Updated on: Wednesday, January 25, 2012

In a booming economy such as Indias it is imperative for its citizens to be financially adept. Keeping this idea as their driving motto, India Infoline (IIFL) kick started their financial literacy campaign dubbed as Financial Literacy Agenda for Mass Empowerment (FLAME). The programme which targets various sections of the Indian society, lays a special importance on financial literacy amongst students. The current academic syllabus is very scholastic with little focus on real-world money management. If the literacy rate of the nation is poor, the financial literacy rate is worse, explains Amar Ambani, head of research at IIFL.

To meet this demand, they launched a certificate course called Financial Literacy for Students (FIN-LITES) for the children of class VIII, IX and X across the country. This course, in collaboration with over 30 schools, including Kendriya Vidyalaya Sangathan, is designed to impart basic financial training and know-how to its students. Amrita Gulia, headmistress at Kendra Vidyalaya, Thane says, Being a teacher of economics, I realise how important it is to inculcate everyday finances into academics. This course has come as a highly beneficial addition to out curriculum. Students too have received it well. The subject hasnt just captured their interest but also helped create financial awareness amongst them, she adds.

Another project under the FLAME umbrella is the six-month course organised in association with KJ Somaiya Institute of Management Studies. This programme focuses on educating from the underprivileged with basic financial knowledge. The course is conducted in English and Marathi and at no cost to the applicants.

Apart from the FIN-LITES courses, they started financial helpline, are conducting FLAME meets, live chats, and generating financial content for the layman, as a part of this initiative. Every resource and medium, online and offline, is being tapped into to reach out to common man.

The aim is to enable the general population with financial knowledge to make the most of the available banking and financial services. It is imperative to steer the inclusion of masses in the countrys financial growth and prosperity, concludes Ambani. An initiative that, although, is much appreciated in these times of economic turmoil, it remains to be seen how well will it be received with the masses.

Times of India

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