Mr. Rajinder Kumar, Financial Literacy Counsellor (FLC) of the State Bank of India, inaugurated the Financial Literacy programme at the CDCL Institute on Tuesday, 9th May 2023.
Mr. Mohan Lal, Project Manager of CDCL Institution was also present in the progrmme along with other officials. Also, as part of the celebration of Financial Literacy workshop 2023, around 100 students of the institute actively participated into this programme.
In the discussion meeting organized on this occasion, various issues including increasing social awareness, protecting customer deposits, providing loans and settling customer complaints were discussed with the aim of sending expatriate income through legal channels.
Mr. Rajinder Kumar ji discussed major aspects related to financial management with students: Why have we limited our learning to the “Seven Wonders of the World”? Why not teach children about the eighth wonder of the world, i.e., the value of compounding money?
Financial literacy among the young is often an underrated concept. Parents wanting their wards to be able to handle money matters during their adult years must inculcate in them the need to save and invest for their future growth. This is only possible when we teach our children about money and how it affects almost every aspect of our daily lives.
Financial education is a must. It is a continuous process that starts with encouraging children to keep money in piggy banks, informing them of secure investments like the Public Provident Fund (PPF), recurring deposits, and then the various investment opportunities including equities and debt instruments that compound money into a corpus necessary to fund your various life plans including retirement. The irony is that despite financial education being at the core of every key life decision, our learning institutions took too long to recognise this fact. The absence of essential subjects like financial planning in our school curriculum highlights the huge gap in our learning process.
At the end of this programme Shri. Rajinder Kumar ji distributed certificates to the students and at the conclusion of the event students were distributed certificates of participation. Sh. Rajinder Kumar ji led the oath by students that they will spread out this message to their family, neighborhood and to the society.
