President Droupadi Murmu called for integrating digital and financial literacy into school curricula Friday. She cited rising cyber fraud cases nationwide as a primary concern. Murmu spoke at the ‘Black Swan Summit’ in Bhubaneswar, organized by the Odisha government and the Global Finance and Technology Network (GFTN).
Digital Literacy Crucial Amid Cyber Frauds
Technology offers significant benefits across all sectors. However, it can be misused for financial fraud, leading to severe financial and emotional distress. The President emphasized the need for public awareness. People must remain vigilant to prevent such scams.
Digital and financial literacy are essential defenses against online fraud. Making these subjects part of school education will help young people understand technology’s risks and rewards early on.
Government Measures Against Cyber Fraud
The central government has implemented several measures to combat digital fraud. These include establishing the Indian Cyber Crime Coordination Centre. The Citizen Financial Cyber Fraud Reporting and Management System is also active. A Cyber Fraud Mitigation Centre is operational.
Technology’s Evolving Landscape
President Murmu urged stakeholders to boost digital and financial literacy. Technology advances rapidly, creating challenges like cybersecurity threats and misinformation. Rapid advancements also drive innovation and economic growth.
India has seen substantial changes in its financial system recently. Direct benefit transfers to bank accounts and digital payments are common for farmers, small businesses, and women. For these groups, fintech is a vital tool.
Focus on Women in Fintech
Women are a key demographic for fintech promotion. The fintech sector should see women as leaders and entrepreneurs, not just users. New products and policies must encourage women’s active participation in the digital and financial ecosystem.
Fintech alone does not ensure inclusion. Citizens in remote, tribal, and rural areas often lack digital skills. Skilling these individuals is vital for their participation in development. Innovators should ensure technology serves social justice and inclusion.