Financial Intermediaries Association of India (FIAI), an association of national distributors, has launched Arthik Gyan, a financial literacy program for students.
National Financial Literacy Assessment Test (NCFE-NFLAT) is designed for students of class 8th, 9th & 10th across schools in India. The test is promoted by NCFE (National Centre for Financial Education), an entity promoted by RBI, SEBI, IRDA, PFRDA, FMC and NISM.
The program covered 20 cities across 63 schools in which 7524 students participated.
The national-level test is designed to measure the level of financial literacy among school students. The test assesses students about their basic financial knowledge on topics such as money, budgeting, investment, banking, savings, insurance, retirement planning and financial planning.
“It was a very noble initiative by NCFE to conduct such a program to drive financial literacy at a school level. At FIAI, we felt it was a unique opportunity for schools to be a part of nation building efforts and inculcating an important life-skill of financial management in their students. We really complement SEBI and NISM to be part of this initiative. We felt it was very important for us to be part of such an initiative at grass root level as a trade body which is trying to promote Industry development and financial literacy,” said Gurpeet Singh, Principal Consultant, FIAI.
Arthik Gyan was launched by FIAI to drive financial literacy at the school level to support the NFLAT exam. FIAI provided training across the country from its member organizations' branches & volunteers for training students for this exam. FIAI reached out to school on its own initiative to provide the training.
