J&K govt inks pacts with BSE to spread financial literacy

Last Updated 27 November 2020, 15:46 IST

Stock exchange BSE has signed four pacts with the Jammu and Kashmir government to spread financial awareness, support economic development and encourage sustainable livelihood of the youth in the Union territory.

The memorandums of understanding (MoUs) were signed by the representatives of the BSE and Mission Youth CEO Syed Abid Rasheed Shah on Friday in the presence of the Lieutenant Governor Manoj Sinha at Raj Bhawan here.

"Under the Mission Youth, the J&K government has been continuously working on policy and process interventions to bridge the skill gaps, create conducive environment for collaborative efforts to generate employment opportunities in various sectors," the L-G said.

The collaboration of the J&K government and the BSE Institute will benefit the people of J&K, especially the youth and women, to successfully transit from classroom to workplace environment, he told reporters after the event here.

"We are adopting the best global practices of youth empowerment and encouraging sustainable livelihood, besides spreading financial literacy among the youth of J&K," L-G said.

The lieutenant governor said the improvement in regulatory environment and business ecosystem is playing a major role in promoting economic growth and financial inclusion in Jammu & Kashmir.

In this backdrop, our goal under the Mission Youth is to tap this opportunity and ease the transition process from classroom to office room, he said.

"The financial sector in Jammu and Kashmir has evolved significantly over the years and has been a key driving force behind economic growth.

"We are also looking to utilise double-digit growth in the banking sector at the national level with our rich and available demographic dividends," he added.

He said that we held a conference of youth in Kashmir, in which we decided work in the direction of providing employment opportunities to 80 per cent youth by 2025.

He said this projects will be started soon.

Talking to reporters, BSE Managing Director and CEO Ashish Kumar Chauhan said the bourse's association with the Mission Youth of the J&K government will enable youngsters and women particularly to learn more about the financial world, develop requisite skills essential to make a career in the BFSI space. BFSI stands for banking, financial services and insurance.

"In the first phase, over 400 youth will be trained in these services," he added.

Shah said that through this association, eligible candidates will be able to attend financial awareness programmes, undergo skill courses in banking and financial markets and specialised programmes in mutual funds that would enable them to enroll in the BSE Star Mutual Fund platform.

(Published 27 November 2020, 15:46 IST)

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