Importance Of Introducing Banking As A Subject In Schools From 8th Grade Onwards

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Importance of Introducing Banking as a Subject in Schools from 8th Grade Onwards

Education is one of the main pillars necessary for leading a healthy and stable life. During their formative years in school, they are introduced to subjects that intend to shape their basic understanding of the academic world.

Why is it important to introduce banking as a subject in schools?

At a young age, kids have better chances of retaining information for the long run when they establish a strong base. Banking as a subject can be intimidating if one is suddenly introduced to it during adulating. Terminology only seems complicated but if one’s doubts are cleared at a young age and if banking fundamentals are in place then this can be a cakewalk.

Here are a few things schools can inculcate in their curriculum

ESG funds - Being involved in matters that concern society’s welfare is a quality one must possess as the youth of their respective countries. ESG funds essentially mean capital being allocated in the shares and bonds of companies that contribute to and perform for social, environmental and governance ...
... well-being. This will instil in them a sense of purpose and is a small step towards nurturing the citizens of this world.

Hedge funds - It caters to individuals with high net worth. They are basically for investing in mutual funds in huge numbers.

NEFT - These are electronic funds transfers which mean money can be transferred from one bank to another bank, same or different branch.

How does this benefit students?

They begin to work towards building a strong base in finance. Growing up and adulating is not easy in terms of finances, savings, and investments and to have some knowledge before involving yourself in it can always be helpful. ESG funds in India, investment banking, asset and liability management etc., are concepts one must understand in order to attain financial security and stability. In-depth knowledge of the same, during school, can encourage their potential interest in the prospects of kick-starting their professional life in the banking industry.

Their growth will be a result of not just the usual academic subjects but this too. The subject can be introduced to them in a more interesting and fun way so as to grab their attention and interest and so that they manage to stick around for a long time. The school can come up with various interactive activities to keep the children engaged. This will contribute to their overall growth and interest in the subject. It is important to give the child a holistic education. If science, geography, and history are subjects responsible for their basic understanding then so is banking. The syllabus can start off easy, by introducing the easier concepts and then work towards detailed, difficult concepts. Kids growing up knowing about ESG funds and hedge funds and other banking concepts are also more prone to understanding the working and framework of the society so they can grow up a certain way and pass it on to future generations.