CBSE Latest News: CBSE COLLABORATES with NPCI to grow financial awareness among students, INTRODUCES Financial Literacy Booklet

CBSE Latest News: Now, the students from the Central Board of Secondary Education (CBSE) starting from a very early age will be aware of the financial concepts - from banking to digital payments like UPI, credit and debit cards and more.

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This awareness will be made possible due to the collaboration between National Payments Corporation of India (NPCI) and CBSE. These two organisations have joined hands to introduce a financial literacy curriculum for the Class 6 students. As a part of their new elective 'financial literacy' , the Financial Literacy Textbook is launched. This will enable the students to have an understanding of basic financial concepts at a preliminary stage of their education.

The textbook covers crucial topics with regards to financial awareness. It covers a wide array of topics starting from teamwork and basic financial concepts to Banking, Security, and modes of Digital Payments such as UPI, Cards, Wallets, and others. The textbook charts the origin of banking to the transition of coins to paper money. It also covers the types of banks and their major operations and the various services carried out by the banks. Furthermore, the textbook also elucidates the significant role of the Reserve Bank of India (RBI) and Government of India (GOI)  in providing an impetus to the Digital Payments movement. This book encapsulates all that a child might find useful at a later stage of life - from core concepts like currency, banking, savings, and investments to advanced concepts like IMPS, UPI, USSD, NACH, PoS, mPoS, QR Codes, and ATMs.

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."

Coming back to the content of the book, building upon the context of modes of digital payments, the book elaborates the role of UIDAI and the importance of Aadhaar, and Aadhaar Enabled Payment System (AePS).The books is complete with activities, attractive illustrations and practice exercises. The textbook can be accessed online on the CBSE website. NPCI has also been working for course content development with CBSE for classes  7 and 8.

 In this context, Praveena Rai, COO, NPCI expressed her excitement regarding this collaboration with CBSE. She further added,  "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 and advanced financial concepts with ease and will establish mindful financial conduct and sound decisions for the generations to come.”