FETP-Introduction
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The document outlines the National Strategy for Financial Education (NSFE) in India. The NSFE was created to promote financial inclusion, empowerment, and awareness among Indians. It aims to help people better manage their money through accessing appropriate financial products and services from regulated entities. The National Centre for Financial Education (NCFE) was established to implement the NSFE under guidance from financial sector regulators. The NCFE conducts various programs and activities to promote financial literacy in India, such as training school teachers, surveys to assess financial literacy, and a financial literacy test for students. However, only 20% of Indians are currently financially literate.
FETP-Introduction
- 1. FINANCIAL EDUCATION TRAINING PROGRAM Creating a financially aware and empowered India.
- 2. National Strategy for Financial Education (NSFE) The formulation and implementation of the strategy can be attributed to the following reasons: 1. Financial inclusion 2. Freedom from exploitation 3. Avoidance of frauds and mis-selling 4. Avoidance of over indebtedness 5. Promoting entrepreneurship 6. Positive spillover effects 7. Inclusive growth, etc. Read the complete strategy at www.ncfeindia.org
- 3. National Centre for Financial Education (NCFE) The NCFE, comprising representatives from all financial sector regulators i.e. RBI, SEBI, IRDAI and PFRDA is set up at NISM under guidance of the Technical Group on Financial Inclusion and Financial Literacy of the Financial Stability and Development Council (FSDC) to implement the National Strategy for Financial Education (NSFE). VISION A financially aware and empowered India. MISSION To undertake massive Financial Education campaign to help people manage money more effectively to achieve financial well being by accessing appropriate financial products and services through regulated entities with fair and transparent machinery for consumer protection and grievance redressal. More info on NCFE and its activites at www.ncfeindia.org
- 4. Organizational Structure FSDC Sub Committee of FSDC Technical Group on Financial Inclusion and Financial Literacy MOF MHRD CBSE CISCE NCERT SCERTs Other Ministries RBI SEBI IRDAI PFRDA National Centre for Financial Education (NCFE)
- 5. Few of our activities FETP Training program for school teachers FACT Financial literacy for youths WEBSITE Financial education materials Survey Financial literacy & Inclusion MSSP Money Smart School program NFLAT Financial literacy test for schools students held across the country. Short term courses NCFE Social E-LEARNIG Read more at www.ncfeindia.org
- 6. 20% of Indians are financially literate
- 7. Sessions! DAY 1 1. Core concepts of financial literacy 2. Indian financial system 3. Banking – Saving, transaction and borrowing products 4. Investment – Securities market and pension products DAY 2 5. Insurance – Protection related products 6. Grievance redressal mechanism for consumers 7. Various financial inclusion schemes 8. Overview of financial planning and Inclusion of Financial Literacy in School Curriculum