Centre for Financial Literacy (CFL)
(Sustainable Stress-free and Peaceful Life)
Financial Literacy
The need for Financial literacy education is rapidly increasing among teenagers as the number of money management alternatives increase.
Financial literacy also involves the proficiency of financial principles and concepts such as financial planning, compound interest, managing debt, profitable savings techniques and the time value of money.
The lack of financial literacy may lead to making poor financial choices that can have negative consequences on the financial well-being of an individual.
Definition
"A combination of awareness, knowledge, skill, attitude and behavior necessary to make sound financial decisions and ultimately achieve individual financial wellbeing."
-----The OECD INFE has defined financial literacy
The offered financial literacy center and course will assist students, Employees and other Public in developing lifelong money management skills. With this facility students and employees will be able to:
Purpose
To conduct financial education campaigns across the country for all sections of the population along with awareness campaigns at different levels for existing and potential customers so as to improve their knowledge, understanding, skills and competence in managing money effectively and to help them improve their socio-economic financial status by taking informed.
Objectives of CFL
Executive Committee
S.No | Name & Designation | Position | Contact |
1 | Dr.R.David Kumar M.Sc(Maths)., Ph.D. Principal |
Chairman | rdavidkumar1729@gcrjy.ac.in Mobile: 9989334981 |
2 | Dr.B.P.N.Reddy M.Com.,MBA(Finance),M.Phil.,Ph.D. Assistant Professor Dept. of Commerce and Management |
Convener | pnreddyboilla@gcrjy.ac.in Mobile: 9440545211 |
3 | Dr.D.V.Nageswara Rao MA., Ph.D. Assistant Professor Dept. of Economics |
Member | dirisala1971@gcrjy.ac.in Mobile:9490919676 |
4 | Shri .G.A.Narasimham M.Com.,MBA.,M.Phil. Assistant Professor Dept. of Commerce and Management |
Member | narasimhaincvizag@gcrjy.ac.in Mobile: 9701706297 |
5 | Shri.P.V.Prasad Assistant Professor Dept. of Commerce and Management |
Member | |
6 | Smt. M.Aruna M.Com(Previous) |
Student Member | |
7 | Mr.P.Sanjay M.Com(Previous) |
Student Member |
Facilities Available in the Centre
S.No | Name & Designation | No.of Units | Remarks |
1 | Computer system with Internet Connection | 1 | |
2 | LCD Projector | 1 | |
3 | Display Board | 1 | |
4 | Study Materials | 10 | |
5 | Paper Clippings | 100 | |
6 | Printer and Scanner | 1 | |
7 | Course Syllabus | yes | |
8 | Journals and Magazines | 5 | |
9 | Discussion Table with chairs | 1 | |
10 | Newspapers Display Stand | 1 | |
11 | PPTs | 40 | |
12 | Online video Lessons | 10 | |
13 | Laptop | 1 | |
14 | Annual Reports | Regularly | |
15 | Audio-Visual Equipment | 2 |
Roadmap for Activities
S.No | Activities Planed | No. of Hours | Target Group | ||
1 | Certificate Course | 60 | U.G &P.G Students | School Students | |
2 | Awareness Camps | 10 | Employees | ||
3 | Material Distribution | Required | Students | Faculty | |
4 | Workshops | 10 | U.G &P.G Students | School Students | |
5 | Debate | 10 | Employees | students | |
6 | Paper Reading | 20 | Students | Faculty | |
7 | Collection and Storing of Finance News Clippings | 50 | Students | Faculty | |
8 | Quiz Competitions | 40 | Students | Faculty | |
9 | Students Seminars | 20 | Students | Faculty | |
10 | Study Projects | 30 | Students | Faculty | |
11 | Video lessons | 20 | Students | Faculty | Middle class people |
Target Group
S.No | Target Group | No |
1 | College Students | |
2 | University Students | |
3 | Women- House Wives | |
4 | Employees- Youth | |
5 | Employees –Middle aged Group | |
6 | Employees- Above 50 years | |
Employees – Retired People | ||
7 | Women Middle Income Group | |
8 | School Students | |
9 | Small Business People |
Activities Organized
S.No | Name of the activity | Hours | No.of Faculty involved | No. of Students Registered | No. of Students Benefites | Remarks |
1 | Skill Course of Financial Literacy | 45 | 2 | 140 | 105 | Under JKC-TISS the assessment is completed |
2 | Certificate Course | 60 | 3 | 97 | 97 | The course is running, it will complete on January 2019 |
3 | Awareness Camps | 10 | 2 | 40 | 32 | |
4 | Material Distribution | Regularly | 3 | 120 | 100 | Displayed on web portal |
5 | Workshops | 10 | 2 | 30 | 30 | completed |
6 | Debate | 20 | 3 | 50 | 50 | BBA,B.Com(BIFS) |
7 | Paper Reading | 20 | 3 | 50 | 50 | Degree and P.G Students |
8 | Collection and Storing of Finance News Clippings | 20 | 3 | 50 | 50 | Degree and P.G Students |
9 | Quiz Competitions | 20 | 3 | 60 | 50 | Degree and P.G Students |
10 | Students Seminars | 20 | 3 | 50 | 50 | Degree and P.G Students |
11 | Study Projects | 30 | 5 | 45 | 40 | Degree and P.G Students |
12 | Video lessons | 20 | 3 | 100 | 100 | UG & PG Students |
Activities Plan to be organized
S.No | Name of the activity | Target Group | Tentative Dates |
1 | National Level Workshop on Financial Education | College Faculty ,Students and | Jan-19 |
2 | Certificate Courses indifferent Areas of Finance for all type of target Groups | Students | Dec-18 |
3 | Student Class Seminars | Women- House Wives | Regularly |
4 | Debates | Employees- Youth | Feb ,2019 |
5 | Group Discussion | Employees Middle aged Group | regularly |
6 | Case Study | Employees – Retired People | December |
7 | Role Plays | Students | Regularly |
Future Plans
Certificate course on Financial Education
Module | Title | Contents | Hours allotted |
Module-I | Basics of Financial Education -I | Financial Literacy meaning and objectives Advantages of Financial Education Concept of Income, Expenditure,Saving, Investment Financial goals and Planning Types of Investments Risk and Return Net worth Budgeting |
5 |
Module -II | Basics of Financial Education-II | Time value of Money Interest calculations Assets and Liabilities Concept of Inflation Savings and Investment related Products Depository System Protection Related Products |
5 |
Module -III | Banking Operations | Functions and Structure, Banking Systems and Types of Banks Role of Banks in Economic Development Customer Service and Relationship Know Your Customer Norms(KYC Norms) Role of IT in Banking Recent technological developments in Banking Innovative Products and Services of Banks - Payment Gate Ways RBI- Functions and Structure Monetary Policy and Credit Control Measures of RBI Non-Performing Assets (NPAs) |
12 |
Module- IV | Insurance | Concept of Insurance and Advantages Types of Insurances Life and Non-Life Insurances Principles of Insurance Products and Services of Insurance Recent Developments in Insurance Sector IRDA Regulations |
10 |
Module-V | Financial markets and Services | Financial Markets Stock Market Operations Calculations of Indices- BSE & NSE SEBI Regulations Financial Services - features and Types Mutual Funds Credit Rating NBFS- Gold mortgage loans Micro Finance Financial Inclusion |
13 |
TOTAL Hours | 45 |