Financial Literacy Week 2024: RBI announces Financial Literacy Ideathon, check details here

The theme for Reserve Bank of India's (RBI's) Financial Literacy Week 2024 is "Make a Right Start – Become Financially Smart".

The theme will focus on young adults, mainly students, to "increase awareness on the advantages of inculcating financial discipline from an early age with inputs on saving, budgeting, power of compounding, banking essentials and cyber hygiene," RBI said.

As part of Financial Literacy Week 2024, RBI has announced a 'Financial Literacy Ideathon', which is aimed at soliciting innovative ideas from postgraduate students (excluding doctoral and post-doctoral students) in the area of financial literacy.

Financial Literacy Ideathon: All you need to know

• The interested postgraduate students can write an ideation paper, not exceeding 2000 words on the topic 'Money Matters for Young Adults; Rethinking Outreach Strategies'.
• The participants can suggest innovative ways to empower young minds with vital financial skills and knowledge.
• The pdf on the ideation papers can be shared on flcfiddco@rbi.org.in. While submitting the entries, participants should provide their full name, name of the university/ college, course details (name of course and batch) and contact details (email and mobile number) in the body of the mail.
• Participants can submit their ideation papers in Hindi or English in pdf format. The submissions should be original and unpublished work.
• The RBI has made it clear that ideation papers with plagiarised content will not be accepted.
• Entries can be submitted from February 26, 2024 to March 20, 2024.
• The first prize for the ideathon is ₹1 lakh, while the second and third prizes are ₹75,000 and ₹50,000, respectively.
• If the RBI finds the idea suitable, it could be implemented.

The RBI has been actively promoting financial literacy in various forms, recognising its significant role in securing individuals' financial future. By encouraging financial literacy, the central bank aims to provide people with knowledge of basic financial concepts, enabling them to make informed decisions, understand the significance of saving and investing, and navigate the digital financial landscape with confidence.