IEPF Chair Professor Dr Mohapatra Invited for an Interactive Session at National Centre for Financial Education, Mumbai

Dr C.S. Mohapatra, the IEPF Chair Professor at NCAER, was invited to participate in an interactive session on “National Strategy for Financial Education (NSFE): Where are we today”, with the officials of the National Centre for Financial Education (NCFE) on 22 November 2023, at NCFE, Mumbai. Keeping in mind the motto of NCFE of working towards “a financially aware and empowered India”, he emphasised the need to expedite the implementation of the “5C strategy”, which includes emphasis on the development of relevant Content in the curriculum in schools, colleges and training establishments; developing Capacity among intermediaries involved in providing financial services; leveraging the positive effect of a Community-led model for financial literacy; devising an appropriate Communication strategy; and, enhancing Collaboration among various stakeholders. He also suggested the introduction of a 6th C in the strategy, i.e. a Class or group-oriented approach, for addressing the unique financial challenges faced by different groups, such as homemakers, senior citizens/retirees, college students/youths, and school children. In his address, he highlighted the importance of stronger stakeholders’ coordination along with timely updation of the curriculum. He further stressed on the implementation of a sustainable financial awareness programme covering modern cyber issues, delivery of comprehensive training, and certification, and argued that combining the right attitude with knowledge and skills is the key towards optimising financial well-being.