Cash course

An Insight On The Core Financial Lessons Nobody Put On The Timetable

Youth Power is an annual social leadership programme organised by The Global Times, where different teams from Amity schools engage in varied social causes in several stages. One of them is ‘Panel Discussion’, where experts from different walks of life discuss various aspects of the chosen social cause. Here’s presenting Part XI of this exclusive series, based on the panel discussions organised by YP teams for the year 2025-26, and a host of opinions and insights shared by experts on ‘Financial Literacy’, the cause chosen by the YP team of AIS Pushp Vihar.

Panellist: Ashok Saini chief manager, Bank of Baroda

“Financial awareness is the knowledge to save, invest, and manage money wisely. Over the years, financial literacy has played a major role in expanding banking access across the country through initiatives like the Pradhan Mantri Jan Dhan Yojana and various insurance schemes. But, as digital banking grows, so do cyber threats. Fraudsters use fake payment requests, and lottery messages to obtain information. Students must never share OTPs, PINs, or banking credentials with anyone. Awareness and vigilance are the strongest protections against online fraud. Financial literacy isn’t about growing wealth; it is also about safeguarding it.”

Panellist: Ashish Gupta senior branch manager, Ujjivan Small Finance Bank

“Small amounts invested consistently over a long period can grow significantly through compounding. That’s why students should understand investment concepts early. Another important aspect is understanding credit. A good credit score reflects responsible financial behaviour and plays a major role when applying for loans. Timely repayment of dues and disciplined use of credit cards also help build that trust. Equally important is helping parents and senior citizens stay informed and protected from digital scams.”

Panellist: Dr Rishi Manrai, professor, Amity University

“Learning about money requires experience which comes through mistakes. Youngsters should not be afraid to make small financial decisions, because every success and setback teaches valuable lessons. Knowledge is the key to making informed decisions. Students should cultivate the habit of reading newspapers, financial articles, and investment-related material to broaden their understanding. Virtual investment platforms can provide a safe environment to learn how markets function without risking real money. As the world moves steadily towards digital transactions, financial awareness will become even more important.”

Panellist: Gaurav Kumar Yadav
deputy general manager, Punjab & Sind Bank

“Every individual has goals - whether it is owning a home, purchasing a vehicle, or ensuring a comfortable future - and achieving those goals requires careful financial planning. A simple principle is to ensure that income should exceed expenditure so that savings and investments become possible. Even people with high incomes can face financial difficulties if they do not plan properly. The habit of setting goals, saving regularly, and avoiding unnecessary spending should begin early in life which will help you at every stage. Financial literacy gives you the confidence to make informed choices and prepares you to deal with both opportunities and challenges in the future. Banks provide several tools, including recurring deposits, fixed deposits, and mutual funds, to help people grow their money over time. At the same time, increasing digitalisation has made cyber awareness essential. Financial literacy brings awareness needed to use technology safely and responsibly.”

Panellist: Ameeta Mohan
Principal, Amity International School Pushp Vihar

“Financial literacy is best learned through responsibility. I feel students should have the opportunity to manage their own budgets so that they understand firsthand how to plan, prioritise, and make choices. Saving becomes meaningful only when one learns how to spend wisely and appreciates the value of money. While it is important to empower young people financially, that empowerment must come with accountability. Many students today already use digital payment systems and some even have access to credit cards, yet financial independence requires understanding basic concepts such as budgeting, credit, and debit. These lessons should be learned at a very early stage because they shape future habits. Financial awareness is not merely about handling money, it is also about developing responsibility, judgement, and self-discipline. Academic success is important, but the ability to make sound financial decisions is equally valuable in preparing yourself for the future.”