JAMMU: Minister of State for Education, Technical Education, Culture, Tourism, Department of Horticulture, Floriculture and Parks, Priya Sethi today asked the youth to attain Personal Financial Literacy as proficiency in money management is key to success.
Priya Sethi, while addressing the valedictory ceremony of the three-day financial literacy-cum-insurance awareness programme organized by SUPPORT, an NGO, in collaboration with Max Life insurance for students, said that organizing such nationwide financial literacy campaigns have far reaching implications for individuals as well as the nation.
She said that in present day world financial literacy has become an essential ingredient for preparing individuals to manage money- income and debt so that they become responsible workers, heads of households, investors, entrepreneurs, business leaders and citizens.
“The students of today need to enrich themselves about the knowledge and skills to manage financial products and services. This knowledge will help them to protect themselves and others from exploitation by money lenders who charge exorbitant interest, avoid over indebtedness and above all become best entrepreneurs” she added.
“Teaching children about money is an invaluable lesson that can and should start early, and, with an understanding of the value of money, children can begin to learn how to use it wisely”, the Minister maintained.
Dwelling on Vittiya Saksharta Abhiyan (VISAKA) launched by GoI, the Minister exhorted upon the youth to be an active part of this initiative and said the digital financial literacy campaign under VISAKA aims to train students about how to open an account, link Aadhaar card with bank account, mobile number and provide all other information required for digital literacy.
She further said, “Raising interest in personal finance is now a focus of state-run programs in countries including Australia, Japan, United States, UK and India. The need for financial literacy and its importance for financial inclusion have been acknowledged by all possible stakeholders – policymakers, bankers, practitioners, researchers and academics – across the globe, she asserted. She said that such programs at the school level will have a deeper impact on the society which would witness new generation of confident adults who can take charge of their financial future.
The event, conducted as part of Max Life Insurance’s employee volunteering initiative – ‘Pehal’, covered five schools with 500 students of class 9th to 12th. The company further intends to cover more schools in Jammu and across five more cities this year.
The content of the financial literacy and insurance awareness module for the school students was comprised of power point presentations and videos around the basic concepts of savings and investment, power of compounding and various financial instruments available in India. Each session covering 50-60 students concluded with a quiz to test the knowledge gained by the students.
Later, the Minister along with ADGP Security, Dilbag Singh, Director and Chief People Officer, Max Life Insurance Shailesh Singh and other dignitaries, distributed prizes among high performing school students and volunteers from management colleges.
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