American India Foundation (AIF) launched Technology Enabled Financial Education in Schools (TEFES) in the schools in Punjab, on Tuesday.
The program was simultaneously launched in 3289 schools all over Punjab by Dr. Daljit Singh Cheema, Education Minister of Punjab, and Pardeep Kumar Aggarwal, Director General, School Education, Punjab.The ambitious financial literacy initiative was introduced through EDUSAT, India’s first satellite to promote distance education system.
Talking on the occasion, Dr. Cheema recognized the necessity of incorporating technology in the education system in Punjab. He said that it is important to introduce latest techniques of learning. The Minister advised teachers and students to participate and get involved in such training programs. He said that it is the need of the hour, and schools should take maximum benefit from such initiatives.Krishnan continued: “Financial literacy is another critical thinking skill which is a must for a 21st century leaner.”Talking to the American Bazaar he said that in the last 15 years AIF touched more than 3500 schools; and that this year they have managed to reach 3289 schools in one single endeavor. “That’s the true power of technology,” Krishnan added.The American India Foundation Trust and DELL will conduct joint training programs for teachers and students under this initiative.
The concept was identified from the need to bring out a standardized and measurable model wherein the schools can be involved to promote financial education training in a steady manner. The program also aims to start an optional exam for school-children.
The relevance of the program can be gauged from the fact that the Reserve Bank of India (RBI) has included financial literacy in schools in its ‘National Strategy for Financial Education’, and the Central Board for Secondary Education’s (CBSE) administration of the optional National Financial Literacy Test (NFLT) for Classes 8-10.