Financial Literacy Initiative undertaken by National Centre for Financial Education (NCFE)
Financial Education Programmes:
As per the mandate, NCFE has been conducting among other initiatives, Financial Education Workshops, namely, Financial Education Training Programme (FETP), Money Smart School Programme (MSSP) Financial Awareness and Consumer Training (FACT) and Financial Education Programme for Adults (FEPA) to promote Financial Education in the country.
Key highlights of the Financial Education Workshops conducted:
FEPA
- A total of 13,098 workshops were conducted out of which 4,725, about 37%, programmes were conducted in special focused districts viz., Aspirational, LWE, Hilly and North-Eastern districts since inception
- Covered 28 states and 6 UTs
- Financial Education (FE) programmes for Potential entrepreneurs’/skill development trainees – 14,050+ trained across different states
- 56,000+ community leaders such as Anganwadi workers, SHGs and Asha workers trained under FEPA, which is in-line with action points of NSFE 2020-25
- 1500+ senior citizens trained through 45+ workshops
- First Programme for Transgenders in Lucknow, UP was organized. 35 transgenders participated
- 2500+ Anganwadi workers were trained in Himachal Pradesh through online mode in the presence of Child Development Project Officer(CDPOs)
- 3 programmes organized in Railway Protection Force Training Academy, Gujarat – 300 personnel trained
- FEPA was conducted in 1st battalion State Armed Police Force (SAF) Police Office, Indore – 65 personnel trained
- 5 FE programme conducted for employees of Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) and Security Printing & Minting Corporation of India Ltd (SPMCIL) in alignment with the objectives of financial literacy at workplace
- Financial Education workshop was conducted for Dr. R. S. Tolia Uttarakhand Academy of Administration, Nainital for district Panchayat Officers, BDOs, Principals and trainees of the academy
- 50+ workshops were conducted in collaboration with IRDAI in which trainer from various insurance companies participated and explained insurance topics in depth as directed by IRDAI
- 1,000+ IOCL employees pan India were trained through a single Webinar
- 2,65,000+ Women were reached through FEPA
- 9,500+ Migrant labors, including brick kiln workers of Haryana were trained
- 3,85,500+ beneficiaries reached through FEPA since inception
FETP & FACT
- FETP workshop was conducted in District Magistrate office for teachers of Govt.High High School Gunipalayam, Tiruvallur Dist,Tamil Nadu. The programme was conducted in the presence of Chief Education Officer of the district
- 600+ students and youth attended National level FE Webinar conducted in collaboration with National Institute of Bank Management (NIBM), Pune
- 2,300+ college students were trained in 7 North-Eastern Districts
- 5 Pilot FE programmes were conducted in coordination with BFSI-SSC for college students
- 72,690+ through FACT and 17,700+ Money smart teachers through FETP since inception
Workshops under DEA and Collaboration with CFL
- 3 pilot programmes were organized in urban slums of Delhi, Chennai and Bhubaneshwar under DEA fund of RBI in FY 2021-22. 24 more workshops are planned in FY 2022-23
- 6 workshops were conducted for school students of class VI to X and senior citizens in collaboration with RBI CFL
Financial Literacy Initiatives of NCFE
- National Financial Literacy Assessment Test (NFLAT):
Launched in line with OECD recommendations, the National Financial Literacy Assessment Test (NFLAT) conducted by the NCFE, encourages school students of Class VI to XII, to acquire basic financial skills necessary to make informed and effective financial decisions throughout each stage of their lives. NFLAT was launched in the year 2013-14. Globally, it is one of the largest FREE annual financial literacy tests for school students. - Financial Education Website and Social Media:
NCFE’s website http://www.ncfe.org.in is available in English, Hindi and 11 other vernacular languages to reach larger audience. The website has rich content provided by all regulators and original content developed by NCFE. Website Hits have reached 25 Million+ since inception of NCFE, with average monthly hits of 1 Million.
NCFE also promotes its activities on Facebook, Twitter, YouTube, and Instagram and keeps updating on social media. There are 1,50,000+ followers for NCFE in social media and a cumulative reach of 21 Million+ since inception of NCFE.
- DSS & KIOSK Project:
NCFE has installed a wide network of 71 large format Digital Signage Systems (DSS) and 31 interactive touch screen Kiosks strategically placed at 102 different locations in 5 selected states of India, to disseminate messages on financial awareness and protection for financial service users, especially depositors. - E-Learning Management System (LMS):
NCFE has launched a dedicated E-Learning Management System (LMS) with 20 modules of e-content for spreading financial literacy in the country. The LMS platform has various topics related to banking, securities markets, insurance, pension, government schemes, etc.
The platform is free of cost to everyone and 6,000+ registrations received so far and cumulative hits of 20 Million+ on E-LMS website. NCFE is receiving positive feedback from the users regarding the content and features of the platform.
- Programmes under RBI’s Depositor Education and Awareness Fund (DEAF):
NCFE has organized 3 Financial Education workshops in pilot phase under DEA Fund, one each in Delhi, Chennai and Bhubaneswar in FY 2021-22. 24 more such workshops are planned in FY 2022-23. - Financial Literacy Week and Digital Financial Services Day:
NCFE in coordination with all financial sector regulators have observed Financial Literacy Week (FLW 2021) from February 8 to February 12, 2021 with the theme “inculcating FL concepts among school children through FE to make it an important life skill”. For FY 2021-22, the theme was “Go Digital, Go Secure” observed from 14th -18th Feb 2022. FL Quiz, Principal Conclave, Social Media campaign, FL Webinars etc., was conducted as part of these events. - Automation Chatbot:
NCFE has installed chatbot on NCFE website to respond common consumer queries on Financial Education.
Digital Financial Services Day 2021 has been observed on 12th February 2021 in coordination with MeitY, All Financial Sector Regulators & NPCI.
Digital Financial Services Day 2022 was observed on 18th Feb 2022 in coordination with MeitY, NPCI and the Regulators.
