India, a fast growing economy with focus on inclusive growth and a stable financial system, recognizes the need for a strategy to spread financial literacy among people. National Strategy for Financial Education (NSFE) is a step in that regard. NSFE aims to promote a smoother and more sustainable co-operation between regulators and stakeholders, avoid duplication of resources and allow development of articulated and tailored roadmaps with measurable and realistic objectives based on dedicated national assessments. To implement NSFE, the National Centre for Financial Education (NCFE) has been established by financial sector regulators comprising of Reserve Bank of India (RBI), Securities Exchange Board of India (SEBI), Insurance Regulatory and Development Authority (IRDA), Pension Fund Regulatory and Development Authority (PFRDA)
The main role of NCFE is to create financial education material and conduct financial education campaign across the country for all sections of the population along with awareness campaigns at different levels for existing and potential customers so as to improve the knowledge, understanding, skills and competence of theirs in managing money effectively to improve his/her financial status by taking informed decision.
