The programme which targets various sections of the Indian society, lays a special
importance on financial literacy amongst students.
In a booming economy such as India, it is imperative
for its citizens to be financially adept. Keeping this idea as their driving motto,
India Info line (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 much it important
to students. Amrita Gulia, headmistress at Kendra Vidyalaya, Thane says, “Being
a teacher of economics, I realize 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 hasn’t just captured their interest
but also helped create financial awareness amongst them”. Another project under
the FLAME umbrella is the six-month course organized in association with K J 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 country’s 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.
Courtesy: Times of India
