Money Smart School Program (MSSP)
Money Smart School Program (MSSP) is an initiative of the National Centre for Financial Education (NCFE) to provide unbiased financial education to school students of Class VI to X and encourage them to obtain basic financial skills.
About MSSP – Money Smart School Program
Money Smart School Program (MSSP) is an initiative of the NCFE to provide unbiased financial education in schools for improving financial literacy which is an important life skill for the holistic development of each student. The program is based on two pillars; education and awareness and aims to establish a sustainable financial literacy campaign that will empower an entire generation.
What is National Centre for Financial Education (NCFE)?
Money Smart School Program (MSSP) is a financial literacy awareness program for students of Class VI to X.
National Centre for Financial Education (NCFE) is a Not for Profit Company promoted by the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), the Insurance Regulatory and Development Authority of India (IRDAI), and the Pension Fund Regulatory and Development Authority (PFRDA).
The main role of NCFE is to create financial education materials and conduct financial education campaigns across the country for all sections of the population along with awareness campaigns at different levels for existing and potential consumers so as to improve their knowledge, understanding, skills, and competence.
Features of the Money Smart School Program
- NCFE invites schools to voluntarily introduce financial literacy as a part of their existing curriculum for students of Class VI to X.
- NCFE and CBSE had jointly developed the study material for students of Class VI to X, a set of five Financial Education Workbooks.
- Our financial literacy curriculum has been developed in such a way that it integrates with the existing subjects for different classes.
- Schools can send their teachers to NCFE’s Financial Education Training Program (FETP) for school teachers for training purposes. Alternatively, we can also arrange a training program for interested schools separately at their own premises.
- These NCFE certified Money Smart Teachers would facilitate in conducting financial education sessions for students in their respective schools. For evaluation of its students, schools can encourage them to participate in NCFE’s National Financial Literacy Assessment Test.
- Schools may also decide to conduct their own evaluation in which case NCFE will provide them with all necessary support.
What are the benefits of MSSP to Schools?
Benefits of Money Smart School Program (MSSP): The foremost benefit for schools implementing the Money Smart School program is that their students after becoming financially literate will be better equipped to deal with today’s complex financial products and services and exhibit prudent behaviour and attitude when it comes to managing their own money. Apart from this other benefits include:
- Schools implementing Money Smart School Program will be certified as Money Smart Schools.
- A certificate and a badge will be issued by the NCFE which the schools can put up on their website and social networks.
- Training and development of MSSP programs for its teachers free of cost from time to time.
- Students will be better equipped to perform in the National Financial Literacy Assessment Test.
- NCFE will facilitate schools/students to visit financial sector regulators where they can gain a perspective on how the regulatory mechanism in our country works. Schools shall get priority in future endeavors of NCFE and shall be part of the social media campaign of NCFE regarding Money Smart Schools
NCFE already has been conducting two programs, National Financial Literacy Assessment Test (NFLAT) for school students and Financial Education Training Program (FETP) for school teachers. Our Money Smart School program, where we invite schools to introduce a financial literacy curriculum is a natural progression in the same direction, thus completing the circle. – Source – NCFE
Email: [email protected] | Phone: +91- 022-68265115
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