National Strategy for Financial Education 2020-2025 (NSFE)
- Posted By
23rd Aug, 2020
- The Reserve Bank of India has released a national strategy for financial education to be implemented in the next five years.
- The multi-stakeholder led approach is aimed at creating a financially aware and empowered India.
- It is the second NSFE, the first one being released in 2013.
- The objectives include managing risk at various life stages through relevant and suitable insurance cover besides planning for old age and retirement through coverage of suitable pension products.
- The NSFE has been put together by the National Centre for Financial Education (NCFE) in consultation with the four financial sector regulators (Reserve Bank of India, Securities and Exchange Board of India, Insurance Regulatory and Development Authority of India and Pension Fund Regulatory and Development Authority) and other relevant stakeholders.
- The Key Recommendation Include Adopting a ‘5 C’ – Content, Capacity, Community, Communication and Collaboration – approach to achieve the financial well-being of all Indians.