It is with great pleasure that we introduce “Financial Inclusion Skills in Youth,” a comprehensive textbook designed specifically for the B.Com. (Management Studies), Semester IV course of 2 Credits under the Skill Enhancement Course (SEC) framework. In today’s dynamic economic landscape, financial literacy is no longer a niche skill but a fundamental life competency, particularly for the youth, who are at the cusp of significant financial decisions. This book is crafted to bridge the gap between academic theory and the practical application of sound financial principles, directly addressing the need for financially responsible and inclusive citizens.
In adherence to the prescribed syllabus and examination pattern, the text maintains an equal weightage across both modules. The content is presented in a clear, straightforward and engaging manner, suitable for both classroom instruction and self-study.
To foster applied learning, critical thinking and collaborative engagement, each sub-unit concludes with a Continuous Internal Evaluation (CIE) section comprising MCQs/Quiz, True or False statements, Conceptual Application Exercises, Short Notes, Flash Cards, FAQs, Student Assignment Ideas, Discussion Question, Practical Compliance Checklist, Flowcharts of Key Processes and Glossary of Key Terms. This integrated approach ensures continuous engagement and preparation for the 40% Internal Continuous Assessment component. The book also emphasizes the integration of Examples and Case Studies wherever possible, reflecting the structure of the 60% External, Semester End Examination.
Contents –
1. Introduction to Financial Literacy and Financial Inclusion
– Financial Literacy – Meaning
– Need for Financial Literacy
– Benefits of Financial Literacy
– Consequences of Financial Illiteracy
– Role of Financial Literacy in Promoting Financial Inclusion
– Importance of Savings
– Types of Income
– Types of Expenses
– Management of Spending
– Financial Discipline
– Case Studies
– Setting Smart Financial Goals
– Income Tracking and Expense Categorization
– Creating andManaging a Personal Budget
– Importance Key Financial Services: Banking, Savings, Credit, Insurance
– Financial Inclusion
– Exercises
2. Priority Sector Financing and Government Initiatives
– Introduction: National and International Perspectives
– Microfinance: Concept
– Formal, Semi-Formal and Informal Microfinance Institutions (MFIs)
– Microfinance Delivery Methodologies
– Recent Developments of Microfinance in India
– Financial Inclusion Schemes in India: Pradhan Mantri Jan Dhan Yojana (PMJDY)
– Pradhan MantriMudra Yojana (PMMY)
– Pradhan Mantri Suraksha Bima Yojana (PMSBY)
– Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
– Jan Suraksha Schemes: Integrated Approach
– Financial Inclusion Programmes Organised by RBI
– Modern Financial Inclusion Instruments
– Rural Credit: Concept, Need, and Characteristics
– Components Of Priority Sector – RBI Guidelines
– Exercises
