A one-day Financial Literacy Awareness Programme was organized on 26th February 2025 at North East Institute of Social Sciences and Research (NEISSR), 7th Mile Chumoukedima, Nagaland. The event aimed to equip trainees with essential financial knowledge and skills to make informed financial decisions.
The resource person for the program, Ms. Isile Nza, Capacity Building Officer, CRISIL Foundation, Nagaland, highlighted the importance of financial literacy in today’s economy. She emphasized that individuals should control money rather than letting money control them. She noted with concern that financial literacy in Nagaland stands at a mere 8%, stressing the need for greater awareness and education on financial management.
Ms. Nza stressed the importance of saving money for unforeseen medical emergencies, old age, housing, and other essential needs. She explained the fundamental difference between needs and wants and urged the participants to prioritize their needs over their wants. Furthermore, she provided insights into various types of banking accounts and advised trainees on how to choose the right account and agencies for saving purposes.
Encouraging early investment and disciplined saving habits, Ms. Nza reiterated that starting with a small amount can yield long-term benefits, ultimately reducing financial dependency. She highlighted that saving should be a top priority rather than a last resort. The session also covered government schemes such as the Atal Pension Yojana and other financial instruments available for securing the future.
In addition, Ms. Nza warned participants about financial frauds and scams, urging them to remain vigilant and cautious in financial dealings.
The programme commenced with a warm welcome by Rev. Fr. G.L. Khing, who emphasized the significance of financial education in achieving economic stability and self-reliance. The session was chaired by Mr. Lokhum L. Yimchunger, a student of MSW 4th Semester, who efficiently facilitated the discussions.
NEISSR remains committed to fostering financial literacy and empowering individuals with the knowledge necessary for financial well-being. This initiative aligns with the institute’s mission to develop socially responsible and financially aware individuals.
