National Strategy for Financial Education (NSFE): 2020-2025 released

National Strategy for Financial Education (NSFE): 2020-2025 released

Part of: GS-Prelims and GS-II – Education; GS-III – RBI

In News:

• The National Strategy for Financial Education (NSFE): 2020-2025 document was released. 
• Released by: RBI.

Key takeaways 

• This NSFE is the second one after the 2013-18 NSFE.
• Prepared by: The National Centre for Financial Education (NCFE) 
• Consultation by: 
  • All the Financial Sector Regulators (RBI, SEBI, IRDAI and PFRDA), 
  • Various Indian Central Ministries
  • Stakeholders under the aegis of the Technical Group on Financial Inclusion and Financial Literacy
• Recommendations: 
  • Development of relevant content in 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
  • Enhancing collaboration among various stakeholders