In an effort to increase financial awareness among children, all four financial regulators of India – RBI, SEBI, IRDAI and PFRDA have joined hands to conduct national level test called National Financial Literacy Assessment Test (NFLAT) for school students of class VIII to X. The test will be conducted on November 28 and 29 across the country.
The regulators have appointed National Institute of Securities Markets (NISM) which has further set up National Centre for Financial Education (NCFE) to carry out this exam.
In a press release, IRDAI said, “NCFE’s NFLAT is a step in the direction of financial literacy and financial inclusion. By conducting a national level test, NCFE plans to motivate school students (of classes VIII to X) to learn the concepts of finance and also measure their financial awareness for inculcating important life skills leading to sound financial decisions later.”
The duration of the test will be 60 minutes in which students will have to answer 75 questions. The test will be conducted in both English and Hindi and would include topics related to basic concepts of finance. Syllabus of topics is available on http://www.ncfeindia.org/nflat.
The test is free of cost and registration is on first come first serve basis.
Students can win laptops, tablets, medals, cash rewards along with certificates by scoring marks in this test.
Top 30 schools will be awarded cash rewards of Rs.25000 along with a trophy.
