In a world of economic instability and recession in many countries, it is important for people to be learned and literate in finance. Seeing the need for this financial literacy, a number of students from the National Institute of Technology-Rourkela (NIT-R) came together and formed a financial club. The club was formed under the Student Activity Center (SAC).
Through this club, the students are assisting people to gain interest and essential skills to tackle financial issues, understanding the complexities around domestic, regional and global economic systems, getting acquainted and conversant with the modern-day financial market and tools, asides from stimulating thoughts to manage and grow wealth securely.
This movement started in 2020 when a student by the name Satyajit Raiguru and ten other students launched the club. Today, the club boasts of over 100 members, many of who are also students. The members have different roles in the club, spanning from content writing to social media campaigns among other things. The roles are to enable better financial knowledge among the members and the general public. To make the outreach more effective and efficient, each club member is given two to four hours per week to the club and they reach the target audience via social media platforms such as YouTube, Telegram and Instagram.
Satyajit says it is expected of students to join high-paying jobs, or create job opportunities through entrepreneurial engagements. In a situation like this, financial literacy becomes more important.
From the time of inception, the club has reached not less than 1,000 students through online sessions. Satyajit stated that more individuals, especially students are showing more enthusiasm about cryptocurrency and other modes of finance. The student group is partnering with StockGro, to carry out a mock trading.Speaking on the situation, Abhinandan said the Covid-19 pandemic brought with it many challenges, at the same time opportunities to the financial sector and it is important for students to get equipped with financial skills essential for their survival growth.