CBSE Introduces Financial Literacy For Students of Class 9 and 10

The Central Board of Secondary Education (CBSE) latest initiative aims at making its students financially literate and to understand the basics of personal finance, banking and teach them living within one’s budget. Through the School Bank Champs (SBC) project, the CBSE has directed all schools to open individual bank accounts of students of classes 9 and 10 and also appoint a teacher to coordinate this exclusively. M.V.V. Prasad Rao, Director of Vocational Education, CBSE has asked schools to share the details of the bank and coordinator by October 20. The CBSE looks forward to accelerate this project and make it a success.

The SchoolBank Champs (SBC) is a program launched by Indian Bank Association (IBA) and supported by Child & Youth Finance International. The program aims to promote and enhance financial education among children. Mr. Rao added that the SBC program was voluntarily initiated by IBA and has been “subsequently brought under the main stream of Prime Minister’s Jan Dhan Yojana”.

Under this program, every school is required to choose a nearby bank for day-to-day interaction and enhancing financial knowledge of students. Apart from opening bank accounts and issuing debit cards, the purpose is to provide students with basic knowledge of operation of net-banking and awareness on pension plans, insurance plan, etc. The curriculum covers themes like, Saving, Entrepreneurship, Safety, Cleanliness, Budgeting, Rights, Friendship and Life Goals.

For more information about the School Bank Champs program CLICK HERE.