K’taka Govt Joins Hand With NSE Academy, Introduces Financial Education Course
The Karnataka government has signed an agreement with the National Stock Exchange (NSE) to orient college students on sound financial management practices under a second-year ‘Financial Literacy and Investment Awareness Course.’
The course aims to provide the foundations for financial decision making, list out various saving and investment alternatives available for people, give a detailed overview of stock markets and stock selection and orient the learners about mutual funds and the criteria for selection.
The Karnataka State Higher Education Council and the NSE Academy signed and exchanged the Memorandum of understanding (MoU) in the presence of Ashwathnarayan C.N.,Minister for Higher Education; IT & BT, Science & Technology; Skill Development, Entrepreneurship & Livelihood, Government of Karnataka.
The NSE Academy also signed Memorandum of association (MoAs) with 22 state universities. Vice-chancellors and registrars from the universities exchanged the MoAs.
“The Financial Education and Investment Awareness Course which would be introduced from a second-year degree is likely to empower students irrespective of streams they opt, with sound financial knowledge and financial management skills. The universities are expected to integrate the course into their curriculum. The course will benefit around 5 lakh students annually, beginning from the ongoing academic year itself,” the Minister said.
“The course aims at developing the spirit of savings & investing, financial acumen, and knowledge of investment avenues among students. The NSE Academy will impart the necessary skills required for facilitating learning to the college teachers, through state-wide ‘Train the Trainer’ programs,” said Ashwathnarayan.
In a tweet on Tuesday, the Minister said that the Karnataka Government signed MoU with NSE Academy and 22 MoAs with public universities to orient students on sound financial management practices. Karnataka is the first state to adopt this strategy of ensuring financial education among students of higher education.
He also tweeted that as financial education helps sow the seeds of prudent financial management, collaboration like these encourages our youth to make informed financial decisions in the digital era.
Highlighting the importance of financial education, the Minister said that financial education leads to financial awareness, better financial decision making, financial independence, financial well-being and overall well-being and life satisfaction.
The course’s subjects will deal in foundations of finances, investment management, mutual funds and financial planning essentials. As a part of pedagogy online diagnostic assessments such as quizzes, projections, psychometric tests and pre-assessments, and recorded self-help videos will be a part of it.
The minister said that financial education drives financial inclusion, a key for individual and economic development. Financial education is also key to fight financial frauds, he added.
The NSE Academy with the support of the KSHEC and universities will orient students towards sound financial management practices and provide understanding of essential financial concepts like savings, investments, investment analysis, insurance, risk management.
