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NISM director urges compulsory financial literacy in schools
Financial literacy should be made a compulsory part of school and undergraduate education in India, according to Sashi Krishnan, director of the National Institute of Securities Markets (NISM). Speaking to Hindustan Times,…
Financial literacy should be made a compulsory part of school and undergraduate education in India, according to Sashi Krishnan, director of the National Institute of Securities Markets (NISM). Speaking to Hindustan Times, Krishnan said the ability to manage personal finances is as crucial as basic literacy, health education or digital fluency. He warned that young adults who enter the workforce without basic financial training risk costly mistakes, high-interest debt and fraudulent schemes.
NISM runs investor awareness programmes across 27 states and 400 districts, with a network of about 920 trainers. The institute has conducted more than 13,200 sessions reaching over 8 lakh participants and engages with over 4 lakh students through its National Financial Literacy Quiz. Its Masterclass series has crossed 1 crore views. Krishnan added that students also need skills in statistical modelling, machine learning, artificial intelligence, algorithmic trading and behavioural finance.
Indian Opinion Analysis
The push for compulsory financial literacy comes as India's household financial savings have shifted from bank deposits toward market-linked products, yet formal financial education remains absent from most state school curricula. The National Education Policy 2020 recommends experiential learning but leaves implementation to states, creating wide variation. NISM, set up by SEBI in 2006, already certifies market professionals and could serve as the standard-setting body for a national curriculum. The real test will be whether the finance and education ministries coordinate to mandate such a course, given that school subjects fall under state jurisdiction. Krishnan's call adds pressure ahead of the next review of the NEP's rollout.
Source: hindustantimes.com
This story was synthesised by AI from the source linked above.
