Course Learning Outcomes (CLOs)

1. Develop the ability to create personal financial plans, including budgeting, saving, and managing expenses to achieve short- and long-term financial goals.
2. Analyze and evaluate various banking, loans and investment options to make informed financial decisions.
3. Explore digital financial tools (UPI, online banking, mobile wallets) to securely manage personal finances.
4. Understand the principles of insurance, investment, and risk management.
5. Explain financial frauds and understand consumer rights, data privacy, and financial grievance redressal mechanisms.

Course Outline

Unit I: Financial Literacy Basics

Meaning, importance, and components of financial literacy; personal finance management; budgeting and saving; income, expenditure, and investment planning; financial goal setting (short-term and long-term); emergency funds; importance of financial discipline and record-keeping.

Unit II: Types of Banks and Tools

Public, private, cooperative, and digital banks; basic banking products: savings accounts, current accounts, fixed and recurring deposits. Loans and Credit Management: types of loans, secured vs unsecured, interest rates, EMIs, CIBIL score, responsible borrowing. Digital Banking Tools: UPI, NEFT, RTGS, IMPS, net banking, mobile wallets, credit/debit cards; cybersecurity and safe digital practices.

Unit III: Financial Literacy and Investment Planning

Insurance: concept, types (life, health, motor, property), premium, policy, claim process, nomination, role of IRDAI. Investment Basics: capital markets, primary vs secondary markets, shares, bonds, mutual funds, ETFs, stock indices (Sensex, Nifty), trading, risk and diversification. Government Schemes: PPF, NPS, SSY, APY, and SIP concept.

Unit IV: Financial Awareness and Consumer Protection

Common financial scams and frauds: phishing, Ponzi schemes, credit card frauds, QR code scams; data privacy and online security; precautions in digital transactions. Consumer rights and responsibilities; grievance redressal mechanisms.

Suggested Readings

1. Kapoor, J., Dlabay, L., & Hughes, R. (n.d.). Personal finance. McGraw Hill Education.
2. Vij, M., & Banerjee, A. (n.d.). Financial literacy: Concepts and applications. McGraw Hill Education.
3. Indian Institute of Banking and Finance. (n.d.). Basics of banking and finance. Macmillan India.
4. Krishnamurthy, S., & Ramachandran, P. (n.d.). Financial education for all. Himalaya Publishing House.