Financial illiteracy affects all ages and all socioeconomic levels and the lack of it may lead to poor financial choices that can have negative consequences on the all-round well-being of an individual. It can cause many people to become victims of predatory lending, fraud and high interest rates, resulting in bad credit or bankruptcy.
Dhan Gyan – a Financial Literacy program has been developed by Tata Capital jointly with Centre for Environmental Research and Education (CERE). The E-learning module provides comprehensive coverage of the National Financial Literacy Awareness Test (NFLAT) syllabus and goes beyond to also provide real-world financial skills.
The course covers the following areas:
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SMART Financial Goals: This chapter discusses how to set and achieve financial goals in life
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Budgeting: This chapter discusses how to properly plan income and expenditures to achieve financial goals
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Insurance: This chapter discusses what is an insurance, need of an insurance, various types of insurances, and how to select an insurance
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Investments: This chapter discusses how to grow your money, importance of investment, basic concepts of inflation, time value of money, simple interest and compound interest
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Banking: This chapter discusses the basics of banking, ATM, Cheque book, Demand Draft, different types of bank account, and how to open a bank account
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Borrowing: This chapter discusses what is a loan, different features of a loan, good loan vs. bad loan, and things one need to know before taking a loan
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Stock Market: This chapter discusses basics of stocks, bonds, debentures, how stock market works, important terms related to stocks and stock markets, and things to know before investing in stock market
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Investment Options: This chapter discusses about what is Mutual Fund and how it works, different types of mutual fund, how to invest in a mutual fund, things to know while investing in mutual fund
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Retirement: This chapter discusses about retirement planning, and how to achieve a financially worry free retirement life
To mark International Women’s Day, Society for Social Empowerment & Training held a session on “Empowering Women through Financial Literacy” for teaching & non – teaching staff of Institute of Distance and Open Learning (IDOL), Mumbai University.
A successful kick-off of “Dhangyan” a financial literacy program by Tata Capital for staff and students of IDOL, Mumbai University. Graced by @Dr. Madhura Kulkarni – Dy. Director IDOL, Dr. Santosh Rathod – IDOL, Ms. Radha Sule – Head Sustainability, Tata Capital.