Participants with officials and others during the Financial Literacy Camp organized at People’s College, Mokokchung on October 10. (Morung Photo)
Morung Express News
Mokokchung | October 10
A Financial Literacy Camp organized at People’s College, Mokokchung by the Ongpangkong Students’ Conference (OKM) in collaboration with NABARD and Financial Inclusion Department, SBI with Kreho Athili, Chief Manager, Financial Inclusion, RBO Mokokchung as the resource person on October 10.
Limatongzuk Jamir, President OKM, in his presidential address said that students and youths should be informed of the new financial system to benefit from the various schemes that are accessible to them in this fast changing world.
Resource person Kreho Athili emphasised the need to possess basic financial literacy knowledge, saying that it was a requirement to prosper in the modern world. He stressed on the problem of money circulation in Nagaland, stating that, unlike neighbouring states like Assam and Manipur, Nagaland lacks sufficient industries and resources to maintain money circulation, and that money leaves the state rather than being circulated within it.
“The value of money depreciates over time,” Athili added, urging the audience to invest their money or keep it in a fixed deposit account rather than keep it at home with them, stating that as India is a country, inflation would eventually cause goods prices to rise, but investing money or keeping it in a fixed deposit would help in keeping the value of money at par with inflation.
He also mentioned the benefits of the Pradhan Mantri Suraksha Bima Yojna (PMSBY), Atal Pension Yojna (APY), and Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY) schemes, which were made easily accessible to the people by the government for Life insurance, Pension, and Accidental Death Insurance.
He remarked, using examples from his experiences as a banker, that a bank can improve a person's life; yet, to do so, one must have a clear goal, be well-planned, and financially literate.
During her vote of thanks, Amongla, Vice Principal, People College, complimented the OKM and the collaborators for holding the Financial Literacy camp in the college, noting that it was a need as the world progressed to a modern era.
