Financial Market Management as a vocational course under NSQF (National Skills Qualification Framework) at Level I & Level II for class IX & X for session 2015-16
Introduction of Financial Market Management as a vocational course under NSQF (National Skills Qualification Framework) at Level I & Level II for class IX & X for session 2015-16
As you may be aware that CBSE is offering various skill based vocational courses under NSQF (National Skills Qualification Framework) at secondary level as per directions from Ministry of Human Resource Development (MHRD). You may be aware that as per circular no.04-07 dt. 16.01.2007 a joint certificate course was introduced from the academic session 2007 at Senior Secondary level in collaboration with National Stock Exchange of India Ltd (NSE) on Financial Markets Management (FMM).
Financial skills particularly in the 21st century are as important as computer skills. It empowers a person to take informed judgments and decisions regarding the use and management of money. Financial skills improves the quality of life and standard of living by promoting budgeting, disciplined savings, intelligent use of credit for buying home, children’s education & marriage, retirement planning etc. There is also an acute shortage of trained professionals in BFSI (Banking, Financial Services, and Insurance) industry. The National Skill Development Corporation (NSDC) has identified BFSI as one of the 21 growth sector to develop skills. NSE who is also co-promoter of BFSI sector council is responsible for development of competence in BFSI. In view of the above, it has been decided to introduce FMM at class IX onwards in collaboration with NSE from academic session 2015-16 onwards. This will be a skill based competency course in Financial Markets Management at NSQF level 1. The students will study the following subjects of FMM in class IX and X for 200 period each. The remaining 4 subjects will be as per scheme of studies for class IX and X.
IX Basics of Money Management
X Introduction to Financial Markets
The marks for theory and practical are given below:
To develop the practical skills, students will also practice on various modules of NSE Learn to Trade (NLT), web base market simulation Software. Students will be required to practice for 60 hours each in class IX and X as per details given below:
SALIENT FEATURES OF THE COURSE
1. The primary objective of the course is to develop practical employability skills in BFSI.
2. The vertical mobility for students pursuing higher education is taken care by introduction of FMM at class XI and XII level in CBSE School itself. Further more than 16 universities are already offering BBA, MBA etc. in Financial Markets. The B. Voc. course in financial market is also available through community college also.
3. The curriculum has been designed by eminent experts from financial markets industry and also vetted by NSE.
4. CBSE and NSE will provide a joint certificate.
5. NSE will also conduct an online examination for FMM papers.
6. The books of FMM are readily available and can be procured from CBSE store.
7. Existing teachers from Economics, Commerce, and Business Studies qualification will
be trained by CBSE and NSE both in for theory and practical.
8. CBSE and NSE will conduct joint awareness workshops to popularize the programme.
The CBSE schools who have already successfully implemented FMM in class XI and XII are advised to introduce FMM in class IX also from the academic session 2015-16. New schools that are interested in introducing FMM from class IX from academic year 2015- 16 onwards and who have sufficient computers with internet facility may write to the undersigned giving their willingness for the same along with format application enclosed herewith. The willingness should reach by email / post to the undersigned by 30th June, 2015 to enable the Board to process the applications further.