Course on money management
The National Institute of Securities Market (NISM) has launched a Financial Literacy Programme for school students. NISM is a public trust set up by the capital markets watchdog, Securities & Exchange Board of India (SEBI).
The programme, according to NISM officials, is an effort to help students “master the art of managing money right from a young age.” An individual typically spends 20 years learning to earn money, but no effort goes towards making the earnings work for him. “Financial planning is a basic life skill and it is imperative that youngsters learn the ropes of money management and financial discipline,” says Devya Sharma, programme co-ordinator of NISM.
The programme teaches budgeting and saving. It comprises 8 sessions that focus on real life money skills: savings and setting smart financial goals, budgeting — income vs expenditure and needs vs wants, why invest, basics of banking, share market terminologies, wide spectrum of investments, pros and cons of borrowing, and case studies for a practical perspective.
There are detailed guidelines for teachers, family activities booklets for enhancing the family’s financial awareness quotient, money maxims — a handy reference of financial facts, figures and planners — and a money-edge bank kit consisting of dummy cheques, DD, withdrawal slips for simulated practice.
A 40-minute Certificate examination has 50 multiple choice questions. NISM will also award certificates to students based on their performance: those scoring less than 50 per cent get the Certificate of Participation, those scoring between 50-70 per cent get the Certificate of Appreciation, and those scoring 75 per cent and above are awarded the Certificate of Honour. Teachers and coordinators involved in the programme will be awarded Certificate of Recognition.
NISM is also planning Inter-School Awards where Best Student medals for top three students will be presented besides Best School & Best Teacher awards. For more details, emil devya.sharma@nism.ac.in or write to National Institute of Securities Markets, UTI House, V Floor, Plot No 82, Sector 17, Vashi, Navi Mumbai — 400 705 or call 022 2788 3001.
