CBSE has decided to introduce lessons on financial education for the students of Class 9th and 10th. Taking steps towards educating children about the life skills, CBSE will be providing lessons about banking and financial education under its “School Bank Champs Project”. As said by the Director of vocational education, MVV Prasad Rao, the project will offer financial lessons and access to basic financial products to children.
Under this project, the students will be taught how to open a bank account, getting and using a debit card, internet banking and learn about various banking and financial products. Students will also learn financial management like saving money, setting up a business and making life goals. The schools will contact a nearby bank to take up the project and send details of the bank to the board. Schools will also appoint a teacher who will act as a nodal officer for the school. The banks will also identify a nodal officer for the project.
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Rao also said that schools need to make sure that the project should not interfere with normal academic activities. City schools strongly agreed with the idea saying that the project will make children financially responsible at a young age.