CBSE launches financial literacy project for students

KOCHI: The Central Board of Secondary Education (CBSE) has launched a School Bank Champs project in order to help students in Class IX and X become financially literate and manage their day-to-day lives efficiently.

Under this project, every school is required to choose a bank nearby the school for day-to-day interaction in enhancing financial knowledge of the students apart from opening of individual bank accounts in their name and getting debit cards.

They will also be exposed to basic knowledge of operation of net banking and awareness on pension plan/insurance plan etc.

This project, apart from financial knowledge, shall also teach the child to various domains like My Savings, Our Club, Our Financial Management, Our Community, Our Enterprise and My Life Goals etc. The schools have been asked to identify a teacher to act as nodal officer on behalf of the school.

The banks will identify a nodal officer from their side. Principals have been asked to send the details in this regard to the CBSE at the earliest.

The Indian Banks Association (IBA) in collaboration with Child and Youth Finance International (CYFI) which is the world's largest movement dedicated to enhance financial capabilities of children and youth, had initially rolled out a project by name School Bank Champs with a vision to build the next generation of economic citizens in India.

The CBSE project is tucking its project to this. The project aims to provide financial education and access to financial products to school children in India.

This project was initially voluntarily started by the IBA and subsequently brought under the main stream of Prime Minister's Jan Dhan Yojana (PMJDY).