The Investor Education and Protection Fund Authority (IEPFA) and the Association of Chartered Certified Accountants (ACCA) have joined forces to enhance financial literacy in India.
A memorandum of understanding (MOU) was signed between the parties, marking a collaborative effort to educate and protect investors, with a focus on the nation’s youth.
This partnership aims to empower the next generation with sound financial knowledge and decision-making skills.
This strategic alliance seeks to bolster financial literacy among Indian schoolchildren, aligning with the shared objective of fostering a financially informed society.
The initiative will introduce the “Financial Education for You” (FEFY) programme to schools, targeting students in grades six to nine. The programme is designed to encourage prudent financial habits in young minds.
IEPFA will support the integration of this four-year course into selected schools, covering diverse regions.
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By GlobalDataACCA will contribute the programme’s digital content at no cost, broadening the reach of financial education.
Furthermore, ACCA members will train school educators, equipping them to effectively impart this crucial knowledge.
The FEFY pilot phase is planned to be commenced in selected schools, with ACCA supplying the necessary digital content and resources.
The programme emphasises interactive and experiential learning to influence students’ financial behaviour positively.
Participating schools are required to meet specific digital criteria and dedicate time for student involvement and teacher training .
The IEPFA-ACCA partnership will also organise seminars, workshops, and roundtables on financial education, investor protection, and capital market growth.
ACCA will fund these events, further solidifying the commitment between the two organisations and expanding the reach of investor education efforts.
IEPFA CEO and Indian Ministry of Corporate Affairs joint secretary Anita Shah Akella said: “We are happy to collaborate with ACCA to promote financial awareness among students throughout India.
“Our goal is to equip future generations with the information and abilities necessary to make wise financial decisions, and our partnership supports that goal. Our goal in incorporating financial education into schools is to foster a financial literacy culture that will help build a more robust economy and responsible investors.”
