Calling the Situation Grim, the Supreme Court Takes Suo Motu Cognizance of Delays in NCLT Approvals  ||  Supreme Court: Admission of a Claim by a Resolution Professional is Not Debt Acknowledgment  ||  Supreme Court: Public Figures Must Exercise Caution as Their Words Have Consequences in Society  ||  SC: State Must Act as a Model Employer, Criticising the Union For Not Regularising ISRO Workers  ||  J&K&L High Court: Minor Minerals Have Major Environmental Impacts and Must be Regulated  ||  Del HC: Unexplained Money Received by Public Servant is Not Bribery Without Proof of Official Favour  ||  Del HC: There is No Absolute Bar on Granting Co-Convicts Parole/Furlough Together in Suitable Cases  ||  Bom HC: LARR Authority Can Examine Limitation Issues in Land Acquisition References under 2013 Act  ||  MP HC: Long-Serving Employees Cannot Be Denied Regularisation by Retrospective Statutory Amendments  ||  J&K&L HC: Routine Challenges to Lok Adalat Awards Defeat Their Purpose of Quick Dispute Resolution    

RBI announces National Strategy for Financial Education 2020-2025 - (20 Aug 2020)

Banking

In order to strengthen financial inclusion in the Country, RBI announces National Strategy for Financial Education 2020-2025 (NSFE). Financial literacy supports the pursuit of financial inclusion by empowering the customers to make informed choices leading to their financial well-being. The NSFE document intends to support the Vision of the Government of India and Financial Sector Regulators by empowering various sections of the population to develop adequate knowledge, skills, attitude and behaviour which are needed to manage their money better and plan for their future. The Strategy recommends adoption of a Multi-Stakeholder Approach to achieve financial well-being of all Indians.

For achieving the vision of creating a financially aware and empowered India, it is necessary to inculcate financial literacy concepts among the various sections of the population through financial education. Further, the strategy aims to encourage active savings behaviour and participation in financial markets to meet financial goals and objectives. Digital financial services are to be used in a safe and secure manner. People should avail credit from formal financial institutions as per requirement.

In order to achieve the Strategic Objectives, the document recommends adoption of a ‘5 C’ approach for dissemination of financial education through emphasis on development of relevant Content (including Curriculum in schools, colleges and training establishments), developing Capacity among the intermediaries involved in providing financial services, leveraging on the positive effect of Community led model for financial literacy through appropriate Communication Strategy, and lastly, enhancing Collaboration among various stakeholders. The Strategy also suggests adoption of a robust ‘Monitoring and Evaluation Framework’ to assess the progress made under the Strategy.

Tags : FINANCIAL INCLUSION   NSFE   ANNOUNCEMENT  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved