UPSDM and NSE Sign MoU to Combine Skill Development with Financial Literacy
Initiative to Promote ‘Skill + Financial Intelligence’ Model for Economic Self-Reliance
Lucknow: In a pioneering initiative aimed at strengthening the financial capabilities of young people, the Uttar Pradesh Skill Development Mission (UPSDM) has signed a Memorandum of Understanding (MoU) with the National Stock Exchange (NSE) to provide free financial skills training to more than 1.5 lakh youth across the state.
The partnership marks a significant step towards integrating financial literacy with vocational training, enabling young people not only to secure employment but also to make informed financial decisions and build long-term economic stability.
Under the initiative, trainees enrolled at more than 1,000 training centres operating under UPSDM and the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY) will receive specialized financial education beginning next week. The programme is designed to equip participants with practical knowledge of budgeting, saving, investing, financial planning, and risk management.
Speaking on the occasion, Uttar Pradesh Minister of State (Independent Charge) for Vocational Education, Skill Development and Entrepreneurship, Kapil Dev Agarwal said the initiative would bring a transformational change in the lives of young people.
He noted that after obtaining employment, many young professionals struggle with financial planning despite having a regular income. The training will help them understand how to manage their first salary, create budgets, build savings, make informed investment decisions, avoid unnecessary debt, and prepare for long-term financial security. It will also guide them in planning for major life goals such as home ownership, entrepreneurship, children’s education, healthcare, and retirement.
The minister emphasized that financial awareness would help youth protect themselves from online fraud, misleading investment schemes, and other financial risks. He described the initiative as a landmark effort to move beyond employment generation and towards creating economically empowered and financially informed citizens.
Prior to the signing of the MoU, a Financial Literacy and Awareness Workshop was organized at the UPSDM headquarters. The workshop was attended by departmental officers and employees, who were introduced to the importance of financial awareness and informed economic decision-making.
Mission Director Pulkit Khare highlighted the growing importance of financial education in an era marked by digital transactions, investment opportunities, and increasing financial complexities. He said that skill development alone is not sufficient unless individuals learn how to manage and grow their earnings responsibly.
During the workshop, NSE officials delivered a presentation on the “12 Principles of Financial Success,” which included key concepts such as saving before spending, maintaining an emergency fund, avoiding high-interest debt, investing regularly, diversifying investments, understanding risk and return, tax-efficient investing, securing adequate insurance coverage, building long-term assets, and periodically reviewing financial plans.
Participants were also introduced to the SaaRthi App, a digital platform developed to promote investment education. The application offers educational videos, financial planning tools, calculators, and financial health assessment features designed to improve financial awareness among users.
Senior officials present at the workshop included Additional Mission Director Pooja Mishra, Joint Director Mayank Gangwar, Finance Controller Sandeep Kumar, Assistant Directors M. K. Singh and Pavitra Tandon.
Representing NSE were Chief Regulatory Officer Ankit Sharma, Vice President Joginder Singh, and Senior Regional In-Charge Shruti Sharma.
Officials described the collaboration as a major step toward creating a new generation of financially aware and economically independent youth. By combining employability skills with financial intelligence, the programme aims to prepare young people not just for jobs, but for long-term financial success and responsible citizenship.
