RBI proposes new subject on financial management in schools

RBI proposes for a new subject on financial management in schools.

Financial management will soon be taught in schools. The Reserve Bank of India (RBI) has recommended the HRD ministry to ask the school boards to commence a subject on financial management in the school curriculum which will further increase students’ understanding about the field. But the final decision is yet to be taken by the HRD ministry.

The financial management subject will cover all the aspects of finance/money as well as provide fundamental ideas on the same so that students can develop interest in the subject and pursue higher studies in future. RBI had sent the proposal to MHRD through Finance Ministry.

The HRD Ministry has also discussed about the proposal with National Council of Educational Research and Training (NCERT) that publishes textbooks and prepares broad curriculum for school students. But NCERT did not like the idea.It said that schools already have subjects like commerce and economics that covers various aspects of financial management. There is no special need to start a new and separate subject for the students.

So let’s wait and watch for the final decision…..