Mumbai : 1 September 2023

Reserve Bank of India (RBI) held the 4th zonal level All-India Quiz on Financial Literacy in Mumbai on August 30, 2023 in which state winners from the States of Maharashtra, Madhya Pradesh, Gujarat, Chhattisgarh, Goa and UT of Dadra Nagar Haveli and Daman and Diu (hereinafter referred as UT of DNH & DD) participated. Overall, around 18,000 students from approximately 9,000 schools participated from the block, district and state level in these states. The six teams that competed in the zonal level were (i) Z P H S Khokarmoha, Maharashtra, (ii) Govt. Secondary School, Mirzapur, (iii) Govt. Higher Secondary School Tokarkhada Marathi Medium, UT of DNH & DD, (iv) Government Senior Secondary School Shiksha Nagar, Madhya Pradesh, (v) Hutatma Bala Gopal Desai Memorial Government High School, Goa and (vi) Kendriya Vidyalaya, Baikunthpur, Chhattisgarh. Master Abhishek Pathak and Master Mohit Rathore of Government Senior Secondary School Shiksha Nagar, Madhya Pradesh were the winners of the zonal round and will participate in the National level to be organised by RBI at a later date. The winners and participants were felicitated by CGM-i-C of FIDD, CO, RBI, Smt. Sonali Sen Gupta and other dignitaries.

Deepening of financial inclusion in the country has been one of the important developmental agendas. Financial literacy supports the pursuit of financial inclusion by empowering the customers to make informed choices leading to their financial well-being. Towards this end, the National Strategy for Financial Education (NSFE) 2020-25 that was framed by the National Centre for Financial Education (NCFE) in consultation with the financial sector regulators, aims to support the Vision of the Government of India and Financial Sector Regulators by empowering various sections of the population to develop adequate knowledge, skills, attitude and behaviour which are needed to manage their money better and plan for their future. The Strategy enshrines various objectives such as inculcating financial literacy concepts through financial education to make it a life skill, encourage active savings behaviour, develop credit discipline and availing of required credit from formal institutions, improve use of digital financial services, manage risks, be aware of rights as consumer etc.

In this context, RBI has been, from time to time, taking various measures to spread financial literacy among various target of population. One such endeavour in this regard was the rolling out of an All-India Quiz on Financial Literacy during 2023 targeting children of Class VIII, IX and X of government schools. The quiz that commenced at the block level and was conducted at the district and state level, aims at generating an interest in the student community towards financial literacy in a fast-changing complex world with evolving digital innovations.

(Source: RBI)

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