Financial literacy awareness in school curriculum

Updated on: Monday, April 23, 2012

Minister M Veerappa Moily pitched for awareness of the subject in school curriculum, to increase financial literacy in the country.

"Moily(Corporate affairs Minister) felt the need to protect the interest of investors and to build credibility of the companies. This included the awareness regarding financial literacy through introduction of proper awareness in school curriculum," an official statement said.

An appropriate blue-print will be drawn up for this purpose in consultation with Ministries of Finance and HRD, NCERT, different state education boards and CBSE, it added.

He was interacting with representatives of RBI, Sebi, industry chambers and professional bodies under his ministry.

"The Minister emphasised upon the need for a strong and vibrant capital market and for this purpose he desired to constitute a committee comprising of officers from the Ministry, SEBI, professional institutes, leading trade and business chambers," the statement added.

Suggestions like colour coding of financial products and simplification of technical financial information in coordination with SEBI, Finance Ministry and RBI for evolving an effective mechanism to protect and empower the investors also came up during the discussion.

Moily also highlighted the need to channelise the house hold savings in to investments through effective investor education nationwide.

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