The agreement will promote rural development through financial literacy and education.
Multi Commodity Exchange of India Limited (MCX) and the KIIT School of Rural Management (KSRM), a rural management wing of KIIT University in Bhubaneswar, Odisha, have signed a memorandum of understanding (MoU) for taking up several educational initiatives towards skill development, knowledge and financial literacy.
The agreement will play a crucial role in promoting rural development through financial literacy and education. It will also deal with problems of fragmentation of knowledge, and paucity of skill and expertise among stakeholders of rural India.
MCX aims to take commodity derivative markets to the grass roots through financial literacy and removal of language barriers. The MoU is expected to complement the same.
The flagship MCX Commodity Certified Professional (MCCP) programme is now offered in both Hindi and English.
PK Singhal, joint managing director, MCX says, “This association with the KIIT School of Rural Management endeavours to bring more people into the financial mainstream in the region, importantly from a state such as Odisha, which is economically underdeveloped as compared to many other states in India.”
“While dealing with skill deficiency, it will enhance employability and contribute to the empowerment of the rural youth,” he adds.
Currently, a majority of rural households, small farmers and small-scale entrepreneurs, do not have adequate knowledge or access to modern financial products to reduce their risks. This particular programme is aimed to enable them to deal with this inadequacy.
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L. K. Vaswani, Director, KSRM said, “KSRM which places very high emphasis on Experiential Learning using its Network of Knowledge providers will create a new landmark by associating itself with MCX, a very innovative Knowledge partner in an emerging field of commodity futures. We are sure that KIIT University students and faculty stand to gain immensely from this association.