The National Stock Exchange of India (NSE) entered into a Memorandum of Understanding (MoU) with Maharashtra's Higher and Technical Education Department (HTED) and Moneybee Institute Pvt Ltd, based in Nagpur, on Thursday. The purpose of this tripartite MoU is to enhance financial literacy among investors in the state.

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The agreement also aims to raise awareness about various aspects of investing in the capital markets, enabling investors to make well-informed decisions, avoid risks associated with Ponzi schemes, and protect themselves from falling victim to cyber frauds.

Devendra Fadnavis, the Deputy Chief Minister of Maharashtra, expressed the state government's support for the signed MoU and emphasised the importance of financial literacy in today's times.

He said, "Financial literacy is the need of the hour today. Maharashtra Government, through the partnership between NSE and Moneybee, will strive to educate lakhs of people. This initiative will guide individuals in avoiding cyber frauds, raising awareness about Ponzi schemes, and providing guidance on where and how to invest."

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Ashishkumar Chauhan, the MD & CEO of NSE, highlighted the collaborative journey that begins with this MoU and expressed their commitment to empower investors by providing them with relevant information for making better decisions.

Shivani Dani Wakhare, the Director of Moneybee Institute, praised the state government for taking concrete steps to initiate the financial literacy campaign. She stated, "Maharashtra has become the first state to actively launch a financial literacy campaign in such a comprehensive manner."

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(Edited by : Sangam Singh)