National Strategy for financial education 2020-25
The National Strategy for Financial Education (NSFE): 2020-2025 document has been released by the Head of the Technical Group on Financial Inclusion and Financial Literacy (TGFIFL) - The Deputy Governor, Reserve Bank of India (RBI) on 20th August 2020. The Strategy has recommended a ‘5 C’ approach for the dissemination of financial education in the country.
This NSFE for the period 2020-25, the second one after the 2013-18 NSFE, has been prepared by the National Centre for Financial Education (NCFE) in consultation with all the Financial Sector Regulators (RBI, SEBI, IRDAI and PFRDA), DFS and other Ministries of Govt. of India and other stakeholders (DFIs, SROs, IBA, NPCI) under the aegis of the Technical Group on Financial Inclusion and Financial Literacy under the Chairmanship of Deputy Governor, RBI.
The ‘5 C’ approach of the strategy 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 Community-led model for financial literacy through appropriate Communication strategy, and, enhancing Collaboration among various stakeholders.
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