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Wednesday, July 23, 2014

Principal Mutual Funds and Money-Wizards launch India's largest Personal financial education initiative: Youth Money Olympiad (YMO)

YMO to reach out to 31state capitals and 100 colleges across India Principal Mutual Funds and Money-Wizards announced the roll out of India's largest personal financial education initiative “Youth Money Olympiad” (YMO). YMO promises to address the subject of personal finance knowledge, a life skill, not covered in our formal educational curriculum. By making students aware of the importance of managing money well even before they start earning, YMO intends to prepare them for their life with this very important skill. 

YMO will reach out to over 100 colleges across the 31 state capitals. The entry is by invitation only and top institutions are being invited for this educational rollout. YMO will be administered as a personal finance assessment test in the multiple choice question format amongst the students. The quiz will help students evaluate their personal finance quotient and simultaneously benchmark their financial IQ against their peer group. There are attractive prizes for the students at the college and national levels. 

Commenting on this occasion, an elated Mr. Rajan Ghotgalkar, Managing Director, Principal Pnb Asset Management Company & Country Head –India, Principal International Inc. said, “We are happy to partner with Money-Wizards for this unique but very important initiative. The objective is to create greater awareness amongst the youth of India about savings & investments and prepare them for the rest of their working lives. YMO underscores Principal's commitment towards investor awareness & education and we are confident that this initiative will benefit more & more students in the coming years” 

Mr. Venkatesh Varadachari, Co-founder and Director, Money Wizards said, “The Youth Money Olympiad is India's largest and first financial literacy initiative targeted at college students. Financial literacy is a life skill that is sadly not taught in our formal school and college curriculum. Conceptualized and designed by Money-Wizards, The YMO 2015, a part of the educational initiative of Principal Mutual Fund, attempts to address this need gap by reaching out to a 100 colleges across the state capitals this year. Over the next few years, we expect the YMO to be available to colleges across tier II and tier III towns and cities”. 

The competition will be held across Mumbai, Chennai, Bangalore, Hyderabad, Patna, Delhi, Panaji, Gandhinagar, Chandigarh, Thiruvananthapuram, Bhopal, Bhubaneshwar, Jaipur, Lucknow, Kolkata, Itanagar, Dispur, Raipur, Shimla, Srinagar, Ranchi, Imphal, Shillong, Aizawl, Kohima, Gangtok, Agartala, Dehradun and Pondicherry.
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