Financial Literacy Week 2024

Financial Literacy Week 2024 mind map
  Recent News:
    Theme: Make a Right Start - Become Financially Smart
    Objective:
      Increase awareness:
        On financial discipline
        Saving
        Budgeting
        Power of compounding
        Banking essentials
        Cyber hygiene
    Financial Literacy Ideathon:
      Aim: Solicit innovative ideas
      Participants: Postgraduate students
      Focus: Strategies to propagate financial literacy among youth
  When:
    Date: February 26th to March 1st, 2024
  Why:
    To promote financial literacy
    Align with National Strategy for Financial Education 2020-2025
  What
    Activities:
      Online mode:
        Financial Literacy Quiz for School Students:
          Date: February 26th to March 1st, 2024
          Participants: Class 6th to 12th
          Prizes: Worth up to ₹2.5 lakh
          Certificates for all participants
        Capacity Building Programmes:
          Topics:
            Insure Your Tomorrow
            Banking Essentials
            Invest Wisely
            Retirement Readiness
            Digital Wellbeing
          Speakers from:
            RBI
            SEBI
            IRDAI
            PFRDA
            NPCI
        Digital Financial Services Day:
          Date: March 1st, 2024
    Indian context:
      Conducted by:
        National Centre for Financial Education (NCFE)
        In coordination with:
          RBI
          SEBI
          IRDAI
          PFRDA
  Where:
    India
  Who:
    Organizers:
      Reserve Bank of India (RBI)
      National Centre for Financial Education (NCFE)
    Participants:
      School students
      Postgraduate students
    Speakers:
      From RBI, SEBI, IRDAI, PFRDA, NPCI
  How:
    Through online activities:
      Quiz
      Webinars
      Capacity Building Programmes
  Significance:
    Enhances financial literacy among youth
    Encourages informed financial decisions
  Challenges:
    Accessibility and reach to remote areas
  Way Forward:
    Increase participation through schools and colleges
    Utilize digital platforms for wider outreach

Financial Literacy Week (FLW) 2024 is a significant initiative aimed at enhancing financial literacy across India, especially among the youth. Scheduled from February 26th to March 1st, 2024, under the theme “Make a Right Start – Become Financially Smart,” FLW focuses on promoting essential financial skills such as saving, budgeting, understanding the power of compounding, banking essentials, and cyber hygiene. The week includes a variety of activities conducted online, including a financial literacy quiz for school students, capacity building programs with experts from financial regulatory bodies, and the observation of Digital Financial Services Day. Organized by the National Centre for Financial Education (NCFE) in coordination with India’s leading financial sector regulators, FLW aims to empower young Indians with the knowledge and skills needed for sound financial decisions, ultimately striving for a financially aware and empowered India.

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