National Payments Corporation of India (NPCI) and Central Board of Secondary Education (CBSE) has entered into a strategic alliance in a bid to introduce a financial literacy curriculum for students of Class VI. The Financial Literacy Textbook is unveiled as part of new elective ‘financial literacy’ subject that will help students in grasping basic financial concepts at a preliminary stage of their education.
The textbook includes several crucial topics pertaining to financial awareness: starting from teamwork and basic financial concepts to Banking, Security, and modes of Digital Payments such as UPI, Cards, Wallets, and more.
It covers the beginning of banking, the transition from coins to paper money, types of banks and major operations and services carried out by banks.
The textbook talks about the role of RBI and government of India in ensuring the success of the Digital Payments movement in the country.
Manoj Ahuja, IAS, Chairman, CBSE said “As the new education policy emphasizes the need of nurturing a digital mindset among the students this book is the first step towards addressing the same. It focuses on the overall digital payment system which is new; this small module on financial literacy is going to educate our students on finance from an early age. This book is interdisciplinary in nature and also stresses the growth of money. It refers to Skills Root and also about the barter system. The addition of this book to the curriculum also stresses interdisciplinary growth, which even the new education policy focuses on. In this book, all the aspects of learning and growth are nicely blended.”
Praveena Rai, COO, NPCI said, “We are excited to collaborate with CBSE to launch financial literacy curriculum for the students. As the nation develops into a smart economy, insight into these crucial topics in the early days of students’ formal education will help them expand their horizons. We are confident that the financial literacy textbook will help tender minds absorb basic & advanced financial concepts with ease and will establish mindful financial conduct and sound decisions for the generations to come.”