Tag Financial Literacy

10th September 2024: NIIT Foundation, a non-profit organization has joined hands with HDFC ERGO General Insurance to introduce two training programs aimed at fostering economic empowerment and financial literacy among underserved communities. The initiative commenced in June 2024, NIIT Foundation and HDFC ERGO undertakes two key programs, that include training in Banking, Financial Services, and Insurance (BFSI) with the placement opportunities to the successful candidates, and Financial Literacy training – aiming to impact 4,500 individuals across Delhi and Tamil Nadu.

The BFSI training programme targets to impact 500 beneficiaries aged between 20 and 30 years old, by providing them with comprehensive training in the segment, followed by complete assistance in securing employment opportunities upon completing the training.

Simultaneously, the Financial Literacy training program aims to educate and empower 4,000 individuals with financial knowledge and skills with the help of practical insights into financial planning, management, and understanding insurance products. The program is open to people of all ages, accommodating citizens between 18 and 60 years of age, with an aim to equip participants with the necessary tools to make informed financial decisions and uplift individuals, particularly those belonging to underserved communities, to break the cycle of poverty.

Highlighting the importance of the partnership, Dr. Charu Kapoor – Country Director – NIIT Foundation, noted, “Reports suggest that despite the BFSI industry’s exponential growth, our workforce still lacks 50% of the skills that are prerequisite for the BFSI segment[1], making upskilling an integral component. Recognising this, NIIT Foundation is pleased to be partnering with HDFC ERGO to further our efforts in not only bridging the skill gap in the BFSI industry but also improve financial literacy among underserved communities, equipping individuals with the necessary skills and knowledge to thrive in today’s dynamic economic landscape.”

“Learning is the new currency and skill will be the primary differentiator going forward. At HDFC ERGO, we believe in the philosophy – The future is here and now. VidyaaVriksh is a step towards realising that. By combining our expertise in insurance domain with NIIT Foundation’s training reach, our collaboration aims to making a significant difference in the lives of thousands of individuals – aiding them in both ending the cycle of financial insecurity but also empowering them to build a secure and prosperous future,” said Mr. Anuj Tyagi – CEO and Managing Director, HDFC ERGO

The training programs, which will be conducted through NIIT Foundation’s will be impacting 4,500 individuals by the end of the current fiscal year.

Hyderabad, May 28, 2024…..….. Entries for the Short Film Contest on Financial Literacy are invited. The Fortune Academy, a Hyderabad-based organisation aims to create an army of financially successful people. To create awareness about the importance of Financial Literacy, The Fortune Academy is organizing a Short Film Contest on Financial Literacy, shared Dr Mani Pavitra, co-founder of Fortune Academy while addressing a press conference at Federation House in Red Hills on Tuesday.

Though 77% of our population is literate, less than 24% is financially literate. Just 17% of teenagers are financially literate in India. According to a Global Financial Literacy Survey, which is the world’s largest and most comprehensive global measurement of financial literacy, India ranks 73rd out of 144 countries with a financial literacy rate of 24%. The majority of Indians face many financial difficulties due to a lack of financial knowledge and awareness.

Financial literacy is the ability to understand and effectively use various financial skills, such as personal financial management, budgeting, and investing, Dr Mani Pavitra, who is widely known as ‘Money’ Pavitra.

Dr. Mani Pavitra, Orthodontist turned Finance Mentor, Co-Founder of Fortune Academy, Serial Entrepreneur, Coach, Social Activist, Author has been educating people about the importance of Financial Literacy, particularly women. She is behind the Million Moms, a much-talked-about initiative to keep mothers healthy, fit, and financially independent.

Interacting with the media, Dr Mani Pavitra said that no matter how high you grow in your career and how well you earn, you must manage money well. Many rich, famous, celebrities who earned well lost all their money. So financial literacy is the need of the hour.

The lives of the rich and famous often seem glamorous, but even the biggest celebrities have money issues. The opposite of this is also a reality where we see many people inspiring stories for rags to riches, those who came from nothing and worked their way hard and made big financially. There are rich and famous people who still live on a budget. Ingvar Kamprad, IKEA Founder; an American business magnate, investor, and philanthropist; Warren Buffet, Narayan Murthy of Infosys

In this light background, Fortune Academy is organizing a Short Film Contest on Financial Literacy.

The film has to be either in English or Telugu and must be in horizontal or vertical format and less than 2 minutes in duration. All the entries will be the properties of Fortune Academy. The contest is being organized as part of the community outreach program to educate the community and women in particular on the importance of financial literacy. The contest on this subject is being organized probably for the first time.

The short films must focus on the importance of money, what money can buy and what money can’t buy, investment, multiplying, saving culture, middle-class money problems, money and emotional connect, rags to riches, the importance of piggy bank and savings, plastic money, digital transactions, money saved is money earned, women and need for financial literacy, etc and other related and relevant subjects of greater concern to the people about the money they earn

The first three award-winning entries judged by a jury will be given a certificate of appreciation and cash prizes of Rs 25000/-, 15000/- and 10,000/- respectively. Five entries will also be given away consolation prizes of Rs 1000/- each

The judging criteria for a short film contest on financial literacy are

1. Clarity of Message: How effectively does the film communicate key concepts of financial literacy clearly and understandably?

2. Creativity and Originality: Does the film offer unique perspectives or creative approaches to presenting financial literacy topics?

3. Engagement: How engaging and compelling is the storytelling? Does the film hold the audience’s attention throughout?

4. Relevance: Does the film address relevant financial topics that are important and applicable to the target audience?

5. Production Quality: How well-produced is the film in terms of cinematography, editing, sound design, and overall technical execution?

6. Impact: Does the film leave a lasting impression on the viewer? Does it inspire action or provoke thought about financial literacy?

7. Accuracy: How accurate and informative is the information presented in the film? Does it provide reliable advice and guidance on financial matters?

These criteria can help ensure that the films submitted to the contest are informative but also engaging and impactful in promoting financial literacy.

This contest aims to create a series of Edutainment (Education plus Entertainment) share-worthy short films. Everybody and anybody can participate. One can also send more than one entry.

Our ultimate goal of this contest is to spread knowledge about financial management. Make people open to talking about earning, saving, managing, and investing money.

Financial Literacy information for all people.

The last date to receive entries is July 31, 2024. Please email your videos to fortuneacademyhub@gmail.com

The Award function will be held in August/September 2024