There is common saying that goes..”The roots of education are bitter but the fruit is sweet.” The roots in our country is the system. Being the world’s largest democracy the educated youth of the country has had to pay the price. The price being to forgo their entry into professional colleges, thanks to the quota system. In some states with quotas upto 70% of the seats the youth belonging to the so called “upper castes” do not find a place in Government colleges/institutions.

This gave rise to the opening up private educational institutions across India.

Private Educational Institutions in India could be classified into the following categories:
(a) Aided Colleges these are colleges that are privately managed but aided by the government.

(b)Unaided colleges these are colleges that are privately managed and also raise their own funds.

Professional colleges across India have sprung up in such large numbers making it into an industry of sorts. We are calling this “Industry” because of the employment and the revenues that these institutions generate.

The world of today, by and large, is comparatively a rapidly changing one and the changes have been in a variety of directions. Not long ago society was through of as a reality sub-generis far beyond the control of individuals to change it –and education as a process of inducting new entrants into society. The idea that societies can be changed and, that too, education can be vital instrument of social transformation is increasingly felt. Geared to the preservation and perpetuation of tradition in the past, education is now being used to bring about social transformation in a large scale. This represents a kind of dilemma in respect of the social role of education in traditional societies.

Ignoring this dilemma, many social scientists today re inclined to believe that education is a powerful instrument of social transformation. The prevailing opinion in circles of social science is that education is an agency of modernization. It is argued that education promotes modernity in many ways but chiefly in two: (i) by sharpening the “critical awareness” of the people about the social structure in which they are placed, and (ii) by changing the consciousness of the people in a direction congruent with the dominant value of our age-rationality-which is also the mainspring of modernity. Following this reasoning, there has come up an impressive body of literature in recent years of documenting the impact of schooling on individual modernity in developing societies. The profound social changes that India has witnessed in the last few decades or so have affected its entire population, yet in some sections of its society their impact has been much more marked than in others.

With rapid globalization and liberalization of the world economy, it is imperative to have an in-depth understanding and knowledge about the financial and banking sectors and their responses to the ceaselessly changing economic trends. Financial Planning education has become the need of the hour because it educates an individual about the various financial options at his disposal and guides him to take well calculated decisions.

Moreover financial education is a must to improve the financial capability of any individual who influences the community and the society he lives in with the financial decisions he takes for himself as well as for others. With increasing number of financial institutions and various financial products available today policy makers have realized how important it is to design, assess, and analyze the effectiveness of financial planning education programmes in our country today.

The Indian Institute of Financial Planning is a pioneer in encouraging students, employees, corporates and many other individuals who directly or indirectly deal with finances to pursue a financial curriculum to be better able to take monetary decisions. This institute offers exclusive Indian financial education where an investor can improve his understanding of financial markets, products, concepts and services.