Proposed Activities and Abbreviations for Financial Literacy 

Proposed Activities for Financial Literacy

In the introductory lecture, teacher should discuss any real-life situation relating to finance e.g. buying a car. Students should be encouraged to participate. they will think about the amount of finance required, source of finance, mode of payment for that car etc. They will get an idea what they are going to study.

Students should engage in the following activities along with their friends, classmates, teachers or parents and other family members. They will come to know the real-life situations as far as Financial Literacy is concerned.

Unit-1 Concept of Team and Its Benefits

  1. Speak to a team leader at school and note down the benefits of teamwork.
  2. Enumerate the qualities in your sports or any other team members.
  3. What are the benefits of teamwork? Write on the basis of team you have ever worked with.

Unit-2 Basic Terms in Financial Literacy

  1. Search on the internet for various types of accounts offered by banks, apart from the ones in your chapter.
  2. Explore the collection of ancient coins in a nearby museum/virtual museum.
  3. Visit http://www. nationalmuseumindia.gov.in to explore more about money.

Unit-3 Banking

  1. Discuss about Piggy Bank at home.
  2. Ask your parents which bank they are associated with and what they do with them.

Unit-4 Security and Modes of Digital Payments

  1. Visit the RBI website and read about the ‘Main Functions’ of RBI.
  2. Watch videos about digital banking on YouTube (CNBC Awaaz).
  3. Try to know more about any mobile banking app.
  4. Discuss with your parents about the importance and working of various cards they use.
  5. Search PoS related information on the internet
  6. Ask your parents/grandparent regarding the banking transactions before the era of digital banking.

 

Proposed Activities and Abbreviations for Financial Literacy 

Abbreviations in Financial Literacy:

BC - Before Christ

AD - Anno Domini (Latin for in the year of the Lord)

GoI - Government of India

RBI - Reserve Bank of India

SBI - State Bank of India

NPCI - National Payments Corporation of India

ATM - Automated Teller Machine

IMPS - Immediate Payment Service

UPI - Unified Payment Interface

USSD - Unstructured Supplementary Service Data

NACH - National Automated Clearing House

 

52 Abbreviations on Financial Literacy

Proposed Activities for Financial Literacy Class 7 – 8

Review Exercise - Drag the words: