Mumbai: The Financial Market Management (FMM) course for students of Class IX and X , launched jointly by Central Board of Secondary Education (CBSE) and National Stock Exchange of India Ltd (NSE) has gained momentum in the current (2016-17) academic session. The country’s leading exchange NSE signed an MOU with CBSE earlier for promoting financial market related education among the youngsters through schools linked to CBSE.
Launched last year, the sixth optional vocational subject FMM is being received well as it aims to sensitise students at a young age about money management and financial planning. “This will enable them to take smart investment decisions when they grow up and understand the value of money”, said Mr. Ravi Varanassi, CEO – Education & Group Head – Equity and Equity Derivatives, NSE.
Of the 75 new schools, many prominent School societies and groups have decided to start the course this year. The Kendriya Vidyalaya Sangathan, which has a huge network of schools is starting this year with 25 schools in the Delhi, Agra, Jaipur and Dehradun regions. In addition 5 schools from Punjab from the prestigious Bharti Foundation in Punjab, schools under the jurisdiction of the Banaras Hindu University group in Varanasi and Delhi public schools across the country are starting the course for their students. The 75 new schools are from across the length and breadth of India, including the capital and NCR , Uttar Pradesh, Madhya Pradesh, Uttarakhand, Rajasthan, Punjab, Maharashtra, Kolkata, Odisha, Kerala, and Andaman & Nicobar Islands.
With more schools are expected to follow soon, the training of the school teachers to teach the subject from Class 9 to 12 started from this month. It is expected that around 150 teachers will get trained in the initial round. The FMM course covers 200 hours of teaching which includes theory and practical classes. The subjects that the students will be taught incude the ‘Basics of Money Management’ the in 9th and ‘Introduction to Financial Market’ in the 10th standard.
In 2007, CBSE and NSE had together launched the FMM course for students of classes 11th and 12th as a new subject stream. In these classes, it can be taken either as a vocational subject or as an academic subject. In Class 11 and 12, students will study about Introduction to Financial Markets, Mutual Funds, Capital market and derivative market operations. With these courses available in classes 11 and 12, FMM provides complete vertical mobility to students to pursue career opportunities in the Financial sector. NSE also offers undergraduate and post graduate courses in Financial markets in 18 Universities/ Institutions in India.
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