FLAME (Financial Literacy Agenda for Mass Empowerment) is an IIFL initiative to promote financial literacy amongst the masses in order to make them an integral part of India's spectacular growth story.

FIN-LITES is a comprehensive Financial Literacy Certification Contest specially designed for the students of Std.VIII, Std. IX and Std.X.

Dr. K. C. Chakrabarty, Deputy Governor, RBI, says, "Financial literacy is primarily the knowledge about financial products and services and their risk-return framework. The basic lesson that must be learned is that higher returns mean higher risks."

Mr. Deepak Parekh, Chairman, HDFC, says, "Financial literacy endeavours need to have a long-term vision. At a very fundamental level, there is now an established understanding that financial literacy has to first be inculcated in the home environment and reinforced as part of the school curriculum. To provide a good financial role model, you need to 'catch them young', which is why I hope FLAME will soon start targeting the very young as well."

Financial literacy is integral to achieving financial inclusion, financial stability and consumer protection.

Financial literacy for school students is an integral part of the FLAME initiative. We firmly believe that authentic financial literacy, if taught during the formative student years, becomes the foundation of a brighter and better financial future for the budding entrepreneurs, visionaries and thought leaders of tomorrow.

In an era of accelerating GDP and rising per capita growth, financial literacy has become more critical than ever before such that we all reap the tangible benefits of the nation's economic prosperity. Financial inclusion has been quite high on the governmental agenda, given its emphasis on widening the Banking & Financial services network across the country.

Schools should encourage their students to participate in this financial literacy contest as this program evaluates and certifies students on day-to-day money management based on their understanding of key concepts including financial and economic terms, principles of Savings and Budgeting, banking, taxation and stock markets, prudent investment avenues, basic accountancy and entrepreneurial skills.

A comprehensive course has been prepared through a specially designed FIN-LITES workbook IIFL's FLAME initiative stands committed to complement this effort by helping common people gain financial growth and security though better awareness and education on the variety of financial products while avoiding the lure of and loss from unrealistic claims made by unscrupulous agents and ponzi schemes.
As students participate in this contest, we are sure their parents will also be encouraged to become even more financially literate.

The FIN-LITES contest is a not-for-profit venture of FLAME and the fee structure is only to instill a sense of purpose among students and parents such that they duly appreciate the immense measurable value of this one-of-a-kind literacy program.

Any amount that we retain by way of the fees received will be remitted back to the school for deployment as per need or gifted to top student performers. As IIFL has undertaken the financial literacy activity as a non-profit venture, we would be charging a very nominal amount. The details literacy program.will be sent to you once you mail us at edu@flame.org.in Besides, the amount charged will barely defray the expenses of the workbook and answer sheets. IIFL will allow the school to retain some amount of the fees collected to cover incidental and administrative costs for hosting the FIN-LITES contest.

Our objective is to light a FLAME, as the name suggests, which will set ablaze a chain of FLAMES across the country. The new-found light of knowledge will undoubtedly dispel the dark clouds of financial illiteracy and ensure the bright sunshine of financial growth and prosperity

This portal, the FIN-LITES course, the FLAME investor meets and our outreach through the social media area among the various IIFL initiatives that would be part of FLAME.

Mr. Nirmal Jain, Chairman, India Infoline Ltd, says, “I am very excited about IIFL's new initiative to dispel the darkness of financial illiteracy in India. Even after 63 years of independence, 40 crore people in our country cannot even read or write. Coming to financial inclusion, rather extent of exclusion, only about 5% of 6 lac villages have any bank branch. Many corporates and wealthy citizens think that it is government's responsibility to cure all the ills, kill all the devils, pay all the bills for social work and give out all the licences for profitable ventures. The government has its limitations in terms of resources. I believe it is no excuse for me as a citizen or my company IIFL as a corporate citizen to do little.

My senior colleagues of IIFL and a separate dedicated team have pledged their support along with me for FLAME. We shall leverage our network of locations, employees and over a million customers across the country to reach out to small towns as well as under-privileged sections of society as well.

FLAME will courier the required number of FIN-LITES workbooks to the Single Point of Contact (SPOC) in the school along with promotional material like posters for creating a buzz around this program. The SPOC will take responsibility for the placement of the promotional material at appropriate places like notice boards.

The FIN-LITES workbook will cover key concepts including Financial and Economic terms, principles of Savings and Budgeting, Banking, Taxation, Stock Markets, Prudent Investment Avenues, Basic Accountancy and Entrepreneurial Skills.

Students will be granted a month’s study time from the date of receipt of the workbook.

At present, students from Std. VIII, IX and X can participate in the FIN-LITES contest.

Based on the response and interest from schools, we will consider extending to more students.

The examination date will be set after Diwali holidays. Actual dates may differ based on specific discussions with schools.

Students will have to appear for the FIN-LITES contest by way of a written examination in English that would be conducted in their own school premise. The duration would be 1 hour.

The SPOC will take end-to-end responsibility for necessary examination arrangements in the school premise.

The examination question paper will be objective type.

The SPOC will collect the examination sheets and have it sent to FLAME office.

The results would be emailed within a month after the exams. The results will also be announced on www.Flame.org.in as well.

In case students have any queries, an online forum would be set up on www.flame.org.in to resolve queries regarding the examination.

No. FLAME will ensure that the FIN-LITES contest does not clash with either the exams or any other activities of the respective school.

All students will be awarded contest participation certificates also denoting respective scores for participating in the FIN-LITES contest. The exceptional performers will be awarded certificates and awards of merit. The SPOC will email/post us the photographs of the top five students for suitable recognition from our end.

Yes. The school Principal and SPOC (Single Point of Contact) will receive a token of appreciation as the FIN-LITES Process Champions and the names will be mentioned on www.flame.org.in

The School will win appreciation and accolades as cherished value partner of IIFL FLAME.

The Award ceremony will be held in the school premise at a mutually convenient date with the Principal, SPOC and a FLAME representative as members of the dais. The school is welcome to invite a chief guest for the occasion.

We will be happy to answer the same. Do send us a mail with your queries and your telephone number and a FLAME representative will get back to you.