On 17th October’ 16, the Financial Literacy Cell was inaugurated at Shri Ram College of Commerce (SRCC) of University of Delhi. The name of the cell is Vittshala and it was launched by Arun Jaitley who is the Union Finance Minister. The Vice Chancellor of the University of Delhi, Yogesh Tyagi was also present on the occasion. More charm was added to the occasion as it was also the 90th anniversary of the college.
The students who will be working as interns with the financial cell have already been trained by the officials of the following organisations:
- Life Insurance Corporation of India (LIC)
- Agriculture Insurance Company of India Ltd
- State Bank of India (SBI)
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The Vittshala will be using the following means to educate people enough to manage financial resources effectively.
- Community Engagement
- Developing Interactive Applications
- Promotional Events
The cell has been set up by a group of students and teachers led by a senior faculty member, Anil Kumar. The group wants to create awareness through its projects and ideas and Vittshala is a Centre for Community Engagement (CCE) initiative. The cell will help the disadvantaged groups with the following:
- Government Schemes
- Banking and Insurance Services
- Financial Planning
- Opening and Operation of Bank Accounts
- Channelization of Savings
Arun Jaitley, at the inauguration, talked about how happy he is that students of SRCC are undertaking the responsibility of educating India in the area of finance. He highlighted a lot of milestones that India has achieved over the year with continuous hard work. Jaitley also talked about schemes like Jan Dhan Yojana, Mudra Yojana etc.