INTRODUCTION TO FINANCIAL EDUCATION
Indian Institute of Banking and Finance (IIBF) (formerly The
Indian Institute of Bankers) was established in 1928. With more than 650
Institutional Members and over 2.5 lac individual members, it is the largest
Institute of its kind in the world and is working with a mission "to develop
professionally qualified and competent bankers and finance professionals
primarily through a process of education, training, examination
consultancy/counseling and continuing professional development programs".
Over the years, the Institute has been publishing several books
and articles on a wide range of subjects in Banking & Finance for the benefit
of bankers, finance professionals, students and general public.
It is our strong conviction that, through an increased
understanding of banking and finance, people can enjoy better, more secure and
more satisfying life. It is against this back drop, we have started this new
initiative on 'FINANCIAL EDUCATION'.
'Financial Education' can be defined as -
"the process by which financial consumers/investors improve their understanding
of financial products, concepts and risks and, through information, instruction
and/or objective advice, develop the skills and confidence to become more aware
of financial risks and opportunities, to make informed choices, to know where
to go for help and to take other effective actions to improve their financial
The main objective of this initiative is two fold, viz.,
To help customers and prospective customers to understand and manage financial
risk, deal with complexities of the market place and take advantage of
increased competition and choice in the financial sector'.
To encourage the general public to enter into or make better use of the
financial mainstream , help them to use the banking products and services in a
better way and to enable them to become savers for the long-term
We are pleased to welcome you to our 'Learning Vault'. We
are confident that you will find in the web pages practical, reliable and
unbiased information on banking and finance.
Please let us know if you find this interesting and also if you
have any particular question to ask. We will keep updating the contents and add
more knowledge inputs, from time to time.
Chief Executive Officer