ROURKELA: Realising the need for financial literacy, a group of students of National Institute of Technology-Rourkela (NIT-R) has formed a finance club under the student activity centre (SAC). Through the club, the group is helping other students develop a knack for financial issues, understand the complexities of domestic and global economic systems, get familiar with financial markets and tools besides stimulating thoughts to manage and grow wealth securely.
Founded by Satyajit Raiguru and 10 other students in 2020, the club now has around 100 members who are engaged in content writing, analytical graphic designing and social media campaigns to spread financial literacy. Each club member is contributing 2-4 hours in a week and reaching out to the target audience through Instagram, Telegram, WhatsApp and Youtube.
Satyajit said after passing out from NIT-R, students are expected to join high-paying jobs or create wealth and jobs through entrepreneurship. In the global economic scenario, financial literacy is a must for effective wealth management and creation. So far, around 1,000 students have been covered through different online sessions. More students are being encouraged to learn about the intricacies of capital markets, investment banking, corporate finance and cryptocurrency among other things, he added.
Club president Abhinandan Mishra said through online workshops and webinars involving experts of different financial domains, they are educating students on financial topics including block chain technology, personal finance, taxation, basics of stock market and intra-day trading and cryptocurrency.
Recently, a mock trading competition was conducted to determine who can trade the best in cryptocurrencies as well as to learn the various strategies involved in crypto-trading.
In association with StockGro, another mock trading for stocks worth Rs 10 lakh was held among participants. The rankings were decided basing on the market value of investments. Abhinandan said the pandemic has brought many opportunities and challenges in the financial sector. It is essential for students to be equipped with financial skills for survival and growth.