IEPFA Workshop Promotes Women's Financial Literacy

The Investor Education and Protection Fund Authority (IEPFA), in collaboration with the National Council of Applied Economic Research (NCAER) and the International Management Institute (IMI), hosted a workshop on ‘Promoting Women Financial Literacy for Viksit Bharat through an Effective Investor Education and Protection Regime in the Digital Era’ in New Delhi, today, to mark International Women's Day.

During her keynote address, Smt. Anita Shah Akella, CEO of IEPFA and Joint Secretary, Ministry of Corporate Affairs (MCA), emphasised on the critical importance of financial literacy for women in today's digitalised world, drawing parallels between prominent figures such as Lakshmi, Athena, Penelope and Hera, and the virtues of wisdom, resilience, sovereignty, and prosperity in managing personal finances. Smt. Akella stressed on the need for women to equip themselves with knowledge and skills for modern finance, recognise their financial power, and navigate the digital landscape with vigilance against cyber threats.

Smt. Akella highlighted that financial literacy transcends mere numerical understanding; it is about empowering informed decision-making for a secure financial future.

Dr. C.S. Mohapatra, the IEPF Chair Professor at NCAER, skillfully moderated the workshop, steering discussions towards actionable insights and ensured that the discussions were both engaging and beneficial for the participants. Notable speakers included Ms. Aprajita Sharma, Asst. Editor, Mint; Ms. Sonia Singh, Senior Financial Journalist; Ms. Amrita Monga Kapoor, Chief Mentor & COO at Swadhaar FinAccess; and Mr. Prabhu Narayan, Director, Cyber Security (Financial Sector), Department of Economic Affairs, Ministry of Finance.

Recognising the pivotal role of financial education in empowering women and its significance as a catalyst for societal advancement, this workshop, strategically scheduled on the eve of International Women’s Day, aimed to address and adapt financial literacy for the digital age, focusing on both its opportunities and challenges, especially in cybersecurity. This workshop was organised to boost female financial literacy level in India through financial experts, policymakers, and stakeholders to foster discussions on crucial topics such as claiming unclaimed shares, debentures, and other assets, and to revisit India's investor education and protection framework. This approach underscores the critical need for enhancing women's financial literacy for individual, household, and broader societal well-being.

The workshop concluded with an interactive Q&A session, followed by a vote of thanks from Prof. Ankita Tandon, Associate Professor at IMI. Prof. Tandon noted that the workshop represents a significant stride towards enhancing financial literacy among women in India, in line with the overarching objective of encouraging inclusive economic development and financial prosperity across all societal segments.