Mokokchung, October 14 (MTNews): A Financial Literacy Camp organized by the Ongpangkong Students’ Conference (OKM) in Collaboration with NABARD and Financial Inclusion Department SBI was held at Jubilee Memorial College, Mokokchung with Kreho Athili, Chief Manager, Financial Inclusion, RBO Mokokchung as the resource person on Friday.
During his welcome address, Sungkumjang Kichu, General Secretary, OKM, noted that in a rapidly changing world, students and youths should be informed of the new financial system in order to benefit from the various schemes that are accessible to them.
During his exhortation, Kreho Athili stated, “You are the future of our people,” implying that how one chooses to live their lives in the next three to five years will determine what happens in their lives, and that one should strive to find his or her skills and area of expertise during these crucial years.
He emphasized the need of possessing basic financial literacy knowledge, adding that it was a requirement to be able to thrive in the modern world.
“The value of money depreciates over time,” Athili added, urging the audience to invest their money or keep it in a fixed deposit account rather than keeping it at home with them, stating that as India is a developing country, inflation would eventually cause goods prices to rise, but investing money or keeping it in a fixed deposit would help in keeping the value of money at par with inflation.
He also mentioned the benefits of the Pradhan Mantri Suraksha Bima Yojna (PMSBY), Atal Pension Yojna (APY), and Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY) schemes, which were made easily accessible to the people by the government for Life insurance, Pension, and Accidental Death Insurance.
Limatongzuk Jamir, President OKM, stated to the media that the OKM, realizing the importance of financial management among students, decided to hold the literacy camp in all the colleges in and around Mokokchung town, with the hope that the seminars would impart knowledge on financial management and the various schemes that can be obtained from the government.
Kreho Athili noted that many individuals were unaware of money management, particularly digital transactions and social security schemes implemented by the Central Government; thus the OKM and collaborators NABARD and Financial Inclusion Department SBI had been imparting knowledge to the public through the literacy camps.
Imtiwati Jamir, Principal of Jubilee Memorial College, mentioned that education was more than just textbooks, and that financial literacy was an important curriculum of life skills. He hoped that students through such endeavors from the OKM would learn a lot of financial knowledge.
Chubaienla Imchen, Assistant Professor Dept. of Economics, Jubilee Memorial College, presented the vote of thanks.