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:
- Create their own financial plan and own budget
- Propose a personal saving and investing plan
- Select strategies to use in handling earning, consumption ,savings, investments, credit and managing their debt
- Demonstrate how to use various financial services and products
- Create a personal insurance plan and retirement plans
- Examine how their choice of career and lifestyles will affect their financial plan.
- Other topics may include: values, goal setting and needs vs. wants
- career development, spending plans, paychecks, and taxes, Saving, inflation and investing
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
- To develop the necessary skills and knowledge to become financially literate.
- To create a financially aware and empowered India, to undertake massive Financial Education campaign to help people manage money more effectively to achieve financial well being
- To develop and maintain the appropriate standards of competence for
- wealth management,
- risk management,
- investment advisory,
- project management and financial planning/ analysis through examination and continuing education
- To educate the public or investors on Knowledge of several financial schemes and pitfalls through the Financial Literacy.
- To protect the interest of the investors, to create awareness on availability of various types of Financial Products and their features.
- Understanding of banking, saving, budgeting, net worth, and payment methods, including.
- Understanding of interest rates as well as several types of fees, financial pitfalls, and consumer protections.
- Intended to increase financial awareness and improve financial behaviors.
- Provides individuals with the knowledge, aptitude, and skills necessary to become questioning and informed consumers of financial services.
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 |
|
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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 |
|
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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 |
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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 |
|
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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 |
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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 |
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Future Plans
- To establish exclusive Financial Literacy Research Centre with the support of SEBI, RBI and Other International Institutions.
- Organize Students study projects in the concerned area.
- To Establish Forum for Financial Education with local social support organizations.
- To organize more number of Workshops, Seminars and awareness camps for school students, small income groups and educated employees and women or house wives.
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 |
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