RBI releases National Strategy for Financial Education

News Today 21-08-2020

The National Strategy for Financial Education (NSFE): 2020-2025 paper released on Tuesday by Reserve Bank of India (RBI) recommended a ‘5 C’ approach to disseminate financial education in the country. This NSFE was prepared by the National Center for Financial Education (NCFE) in consultation with all the Financial Sector Regulators (RBI, SEBI, IRDAI and PFRDA), DFS and other Govt.of India ministries and other stakeholders (DFIs, SROs, IBA, NPCI) under the supervision of the Technical Group on Financial Inclusion and Financial L for the period 2020-2025, the second after the 2013-18 NSFE. These include emphasis on developing relevant curriculum content in schools , colleges, and training establishments, capacity building among intermediaries involved in providing financial services, leveraging the positive effect of community-led financial literacy model through appropriate communication strategy, and enhancing collaboration among various stakeholders.

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