ROURKELA: Realizing the need for financial literacy, a group of students from the National Institute of Technology Rourkela (NIT-R) formed a finance club as part of the Student Activity Center (SAC). Through the club, the group helps other students to develop a talent for financial matters, to understand the complexities of national and global economic systems, to become familiar with financial markets and tools, in addition to stimulating reflections to manage and build wealth safely.
Founded by Satyajit Raiguru and 10 other students in 2020, the club now has around 100 members engaged in content writing, analytical graphic design and social media campaigns to spread financial literacy. Each club member contributes 2-4 hours per week and reaches the target audience via Instagram, Telegram, WhatsApp and Youtube.
Satyajit said after passing out from NIT-R, students should join well-paying jobs or create wealth and jobs through entrepreneurship. In the global economic scenario, financial literacy is indispensable for effective wealth management and creation. So far around 1,000 students have been covered by different online sessions. More and more students are 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 that through online workshops and webinars involving experts from different financial fields, they educate students on financial topics including blockchain technology, personal finance, taxation, stock market basics, intraday trading and cryptocurrency.
Recently, a mock trading contest was held to determine who can trade the best in cryptocurrencies as well as to learn the different strategies involved in crypto trading.
In association with StockGro, another stock trading simulation worth Rs 10 lakh was held among the participants. The rankings were decided based on the market value of the investments. Abhinandan said the pandemic has brought many opportunities and challenges in the financial sector. It is essential that students be equipped with financial skills for their survival and growth.