Bringing joy to the students who aim to procure jobs in banking, financial services and industrial sectors, the Central Board of Secondary Education (CBSE) has decided to introduce the Financial Market Management (FMM) vocational course in Classes 9 and 10 of the CBSE-affiliated schools.
The board has sent a memo to the UT director public instructions (DPI), schools, Kamlesh Kumar informing him about its move to initiate the course under which students would be trained to acquire financial skills.
CBSE director (vocational) MVV Prasad Rao said that the country was facing an acute shortage of trained professionals in the BFSI (banking, financial services, and insurance) industry and the main objective of this course is to develop practical employability skills in BFSI.
“Financial skills in the 21st century are as important as computer skills. It empowers a person to take informed decisions regarding the use and management of money",he said adding that these skills would help the students in the long run as they would encourage them to carry out budgeting, disciplined savings and an intelligent use of credit for buying houses.
The course would be offered in collaboration with the national stock exchange (NSE) from the current academic session.
Under the course, students would study a subject each in 9th and 10th class for 200 periods each. In the 9th class the students would study ‘the basics of money management’ while they would study ‘introduction to financial markets’ in 10th class. Both these subjects would carry 60 marks for theory and 40 marks for practical.
According to the officials, the students would also practice various modules of NSE learn to trade (NLT) - a web-based market simulation software, in order to develop practical skills. They would also be required to practice for 60 hours each in numeric speed accelerator (NSA) and function key accelerator (FKA) in 9th and 10th class respectively.
Rao said FMM would be introduced in Classes 11 and 12 of CBSE schools to help in the continued learning of the subject for students.