NCFE - National Centre for Financial Education

National Centre for Financial Education
राष्ट्रीय वित्तीय शिक्षा केंद्र
NCFE Logo
Abbreviation NCFE
Motto Creating a financially aware and empowered India
Location
Website ncfeindia.org

National Centre for Financial Education (NCFE) is set up to create financial education material and conduct financial education campaign across the country for all sections of the population along with awareness campaigns at different levels for existing and potential customers so as to improve the knowledge, understanding, skills and competence of theirs in managing money effectively to improve his/her financial status by taking informed decision.

History

India, a fast growing economy with focus on inclusive growth and a stable financial system, recognizes the need for a strategy to spread financial literacy among people. National Strategy for Financial Education (NSFE)[1][2] is a step in that regard.

To implement NSFE, the National Centre for Financial Education (NCFE) has been established under NISM, by financial sector regulators Reserve Bank of India, Securities and Exchange Board of India, Insurance Regulatory and Development Authority of India, Pension Fund Regulatory and Development Authority, Forward Markets Commission and Ministry of Finance, Government of India.

Projects

National Financial Literacy Assessment Test (NFLAT)

NCFE believes financial literacy is an important life skill for the holistic development of each student. NCFE's National Financial Literacy Assessment Test (NCFE-NFLAT) is a step in that direction. Targeted towards school students of Class VIII to X, NCFE-NFLAT[3] would assess their knowledge on topics such as Money, Savings, Banking, Budgeting, Insurance, Investment, Retirement planning, etc. An on-line test conducted across India to encourage school students to obtain basic financial skills which are essential for their full participation in society. nishant

Financial Literacy and Inclusion Survey (FLIS)

Financial education[4] strategies benefit from empirical evidence to indicate the level of need amongst the population and within particular subgroups. This study[5] with more than 75000 sample size was conducted to assess the state of financial literacy[6] and financial inclusion[7] in India.[8]

Introducing Financial Education in School Curriculum

Young people - not only in India but also around the world - face a new economic environment with complex financial markets. They will have more individual responsibility in planning for their own financial security during their working lives and after retirement. For this they must be equipped with the right tools and skills. Financial literacy is an important life skill for the holistic development of each student. We need to impart it early to make our future generations financially savvy[9] to meet their goals.[10]

See also

References

  1. ↑ http://www.policyholder.gov.in/National_Strategy_for_Financial_Education_211.aspx?NEWS
  2. ↑ https://rbi.org.in/Scripts/PublicationDraftReports.aspx?ID=675
  3. ↑ http://ncfeindia.org/nflat
  4. ↑ https://www.rbi.org.in/FinancialEducation/Home.aspx
  5. ↑ http://www.nism.ac.in/index.php/press-releases/357-ncfe-is-conducting-financial-literacy-and-inclusion-survey
  6. ↑ https://financiallit.org/
  7. ↑ http://www.worldbank.org/en/topic/financialinclusion
  8. ↑ http://ncfeindia.org/national-survey
  9. ↑ http://www.finlitgame.com/
  10. ↑ http://ncfeindia.org/kids-corner

External links

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