Mumbai (Maharashtra) [India], June 14 : The National Stock of India (NSE) signed a tri-partite Memorandum of understanding (MoU) with the Higher and Technical Education Department (HTED) of Maharashtra, and Moneybee Institute, the stock exchange said in a release.
The MoU aims to create awareness amongst the public about the various aspects of investing in the capital markets and provide relevant and practical knowledge to investors, enabling them to make informed investment decisions.
NSE began operations in 1994 and is ranked as the largest stock exchange in India in terms of total and average daily turnover for equity shares every year since 1995, based on market regulator SEBI data.
"Today's MoU with the Government of Maharashtra and Moneybee Institute symbolizes our commitment towards investor awareness and financial literacy. As we begin our collaborative journey, we commit to empower and equip investors with relevant information for better decision-making," Ashishkumar Chauhan, MD and CEO, of NSE, was quoted as saying in the release.
Capital markets play a crucial role in driving economic growth and it is important to promote education and awareness in the securities market to all investors.
"Financial literacy is the need of the hour today. Maharashtra Government is going to try to make lakhs of people literate through the agreement made by NSE and Money Bee. Maharashtra being the first state, through this initiative will be guided to avoid cyber fraud, create awareness about Ponzi schemes and how and where to invest," Devendra Fadnavis, Deputy Chief Minister of Maharashtra. said and congratulated NSE and Money Bee Institute for the initiative.
Indians are increasingly entering into the investments arena, particularly stocks, in recent years. The rising number of new demat accounts suggests so.
"Maharashtra has become the first state to actively initiate the financial literacy campaign in such a concrete way. With leadership like Dy Chief Minister of Maharashtra, Devendra Fadnavis and NSE's support, it will bring revolution and prevent citizens of Maharashtra from being duped," said Shivani Dani Wakhare, Director of Moneybee Institute.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor