IED, BhSE in pact to offer courses on capital markets

The Institute of Entreprenuership Development (IED), a research and entreprenuership development centre of the Orissa government and Bhubaneswar Stock Exchange (BhSE) would promote financial literacy in the state.

IED and BhSE today signed a memorandum of understanding (MoU) for the purpose. Panchanan Dash, director, IED and Debaraj Biswal, chief executive officer (CEO), BhSE signed the documents in the presence of BhSE chairman Vivek Pattanayak.

IED boasts of state-of-the-art technology in the field of entreprenuership development, business development and other futuristic fields and intends to promote financial literacy and industrialization in the state. Similarly, BhSE is also interested in extending its service and expertise to increase the level of financial literacy in the state.

As per the MoU, both the organizations would jointly offer diploma or degree certificate courses on capital markets.

To start with, two courses on capital markets- namely certificate course in capital market (4 months) and diploma course in capital market (1 year) would be introduced. Besides, a degree course in capital markets would be launched later.

Speaking on the occasion, Vivek Pattnayak said, financial literacy holds the key to economic growth of a backward state like Orissa. Since wealth creation has become very important for the development of the society, the MoU would help create more awareness while providing self-employment opportunities for the educated unemployed youth.

Panchanan Dash, special secretary, industry department and the director of IED said, Orissa is richly endowed with resources. But due to absence of entreprenuership, the state continues to be poor.

Stating that the micro, small and medium enterprises (MSMEs) can play a vital role in the development of the state, he said, the courses being introduced as part of the financial literacy programme would make the state more vibrant.

Biswal said, financial literacy is required for making double digit growth sustainable. Effective implementation of the policies and conducive environment can make this possible. The young generation need right training on financial literacy, he added.