Participants and resource person during the Financial Literacy Awareness Programme Held at NEISSR. (Photo Courtesy: NEISSR)
Chümoukedima, February 26 (MExN): The Capacity Building Officer, CRISIL Foundation, Nagaland has highlighted that financial literacy in Nagaland stands at a mere 8% while stressing the need for greater awareness and education on financial management.
Speaking as resource person during the one-day Financial Literacy Awareness Programme organised at North East Institute of Social Sciences and Research (NEISSR), 7th Mile Chümoukedima, Isile Nza, Capacity Building Officer, CRISIL Foundation, Nagaland, emphasised that individuals should control money rather than letting money control them.
Nza stressed the importance of saving money for unforeseen medical emergencies, old age, housing, and other essential needs, stated a press release from NEISSR. She explained the fundamental difference between needs and wants and urged the participants to prioritize their needs over their wants.
The resource person provided insights into various types of banking accounts and advised trainees on how to choose the right account and agencies for saving purposes. Encouraging early investment and disciplined saving habits, Nza reiterated that starting with a small amount can yield long-term benefits, ultimately reducing financial dependency.
She highlighted that saving should be a top priority rather than a last resort. The session also covered government schemes such as the Atal Pension Yojana and other financial instruments available for securing the future.
In addition, Nza also warned participants about financial frauds and scams, urging them to remain vigilant and cautious in financial dealings.
The programme commenced with a warm welcome by Rev Fr GL Khing, who emphasized the significance of financial education in achieving economic stability and self-reliance. The session was chaired by Lokhum L Yimchunger, a student of MSW 4th Semester, who efficiently facilitated the discussions.
