Mita Mukherjee
The ICSE council will organise principals’ conclaves and teacher training programmes for introducing financial education in ICSE schools, according to the Council for the Indian School Certificate Examinations (CISCE).
The CISCE had recently announced its decision to include financial education for Classes VI to X in ICSE schools to teach students basic financial management principles and their application in day-to-day lives.
In a letter to heads of all CISCE affiliated schools on Monday, Gerry Arathoon, chief executive and secretary of the council said, “ There is a need to propagate and promote a multidisciplinary learning environment in our schools. Besides, the requirement for financial education has been recognized and stressed upon to equip our students with the right knowledge and skills to assist them to make informed decisions later in life…..”
To further promote this concept, the CISCE in collaboration with the National Centre for Financial Education (NCFE) will be organizing multiple region-wise online principals’ conclaves on the theme ‘Integration of Financial Education in School Curriculum, the council wrote to the principals. A series of such online meetings have been scheduled, starting with schools in the North-West region, followed by East and North-East, Central and West and South and abroad, according to the letter.
The NCFE has provided valuable inputs and suggestions in the CISCE handbook for teachers titled Financial Literacy: Integrating Financial Education in School Curriculum, the council said.
The conclaves will be followed by training programmes for teachers on the subject.
The National Centre for Financial Education (NCFE) promoted by the Reserve Bank of India and other organisations under the aegis of Financial Stability and Development Council under the Ministry of Finance of Government of India, has developed the National Strategy for Financial Education (NSFE) 2020. One of the important action points under the NSFE 2020 is to integrate financial education for students of Classes VI to X.
The CISCE had earlier said that it had taken the decision to introduce financial education in schools to make students financial literate, help them develop an understanding of the basics of money management, importance of savings and investment, develop the skill of how to spend money and making purchasing decisions, budgeting, making optimal use of available resources, to become more aware of financial risks and opportunities and what to do to improve financial well-being from a young age.
The CISE, however, has earlier made it clear that though it is important to teach financial education at the school level, it is not to be treated as a stand-alone subject. Essential financial concepts need to be integrated in the curriculum for Classes VI to X in relevant context in age-appropriate manner.
The webinars will start with the North and West regions on August 8, the council said.
Also Read: ICSE council to provide support to affiliated schools to set up plus two units