Over 17,000 students across India participate in BSE International Financial Olympiad

| Updated: Apr 10, 2017 05:12 IST

Mumbai (Maharashtra) [India], Apr. 9 (ANI): The BSE International Financial Olympiad (BIFO) function is a culmination of the fifth BSE international finance Olympiad conducted across Indian schools to promote financial literacy and to find the best of the finance whiz kids. Eduheal foundation (EHF), an international NGO promoting education and health has come together with Bombay stock exchange to promote this event . The award function was held at the iconic BSE convention hall where the first stock trading in India took place . Over 108 students competed with each other to win the national level competition. A total of 17,000 students from over 600 schools across the country participated in the national level competition which was spread over 12 months. The BIFO is an initiative to extend financial literacy to the school level through its flagship innovative and educative national level financial quiz competition. The first round of BSE International Financial Olympiad covered over 600 schools across 202 cities in 24 Indian states and 108 students were selected for the finale in Mumbai. BSE International Financial Olympiad is aimed at encouraging school students to explore and learn more about financial world by developing analytical and problem solving skills that will be essential to their careers. The purpose of BSE International Financial Olympiad is to create awareness about financial literacy amongst students at a young age. It is aimed at empowering students with a proper understanding of the opportunities in the financial markets. Financial Olympiad helps students prioritize their personal financial goals and guides them towards becoming financially responsible. During the initial rounds of BSE International Financial Olympiad, students studying in class 9, 10, 11 and 12 participated in inter school written tests. The winners received cash scholarships for higher studies worth Rs. 15 lakh Dr. Sandeep Ahlawat, Managing trustee, Eduheal foundation added "Being leaders in school Olympiads, we reach out to lakhs of budding scientists and mathematicians across thousands of Indian schools to give them a WOW experience . The once in a lifetime experience includes going to the iconic Bombay stock exchange for BIFO or the ISRO space launches for NSSO . Our experience with conducting Olympiads like the maths and science Olympiad for school children convinced us that this is a good vehicle for generating interest in financial concepts among school children. Hence we have been organising the BSE International Financial Olympiad since the last five years." Ambarish Datta, MD & CEO, BSE Institute Ltd said, "Young people nowadays, face more responsibilities and challenges than ever before. They now bear more of the costs of their own education, they also tend to borrow large sums of money at an early age. Hence it is very critical for them to be financially literate at an early age. However their curriculum is already overloaded and with decreasing attention spans conventional approaches to teaching will not work, which is why we thought of devising a fun filled national level completion to help school children to acquire financial knowledge. This is the 5th year of this event and we have had a very good response, from all over the country. I am confident that the BSE International Financial Olympiad will go a long way in encouraging our youth to be financially literate." (ANI)