Kohima, September 17 (MExN): The Senior Youth Fellowship of the Chakhesang Baptist Church Ministers' Hill, Kohima (CBCMHK), held a seminar on financial literacy on Monday, September 16.
The event, titled “A Talk on Financial Wellness,” aimed at equipping young adults with knowledge about banking and finance.
The session featured Zhoponu Chüzho, Assistant Bank Manager at Bank of Baroda, and Vekhosa Thingo, Assistant Professor at Kohima College's Commerce Department, as resource persons. They covered topics such as banking structures, loan procedures, investment strategies, and the stock market.
Chüzho explained the differences between public and private sector banks, noting that India has 12 public sector banks and 21 private sector banks, with the government holding at least 50% in public banks. He also discussed loan application processes and stressed the importance of responsible borrowing, stating that defaulting on loans means defaulting public money.
Highlighting the rise of digital banking, Chüzho encouraged the youth to adopt digital transactions and educated them on social security schemes, investments, and banking services like the ombudsman for resolving customer grievances.
Thingo focused on modern investment options, explaining mutual funds, stock markets, and the role of stock exchanges such as the National Stock Exchange and Bombay Stock Exchange. He elaborated on how the Securities and Exchange Board of India (SEBI) protects investors and promotes market fairness. Thingo also introduced the concept of demat and trading accounts for stock trading.
Rev. Dr. Vevo Phesao, Senior Pastor of CBCMHK, offered the opening prayer, encouraging the youth to pursue financial success based on biblical principles.
Rakodu Nukhu, CBCMHK Youth Director, thanked the participants, noting the active involvement of over 50 individuals despite their busy schedules.
