More than 70% of all online financial education courses offered by leading banks are online, according to a new survey.
Online financial education (OFEE) is gaining momentum in the Indian banking industry, as a growing number of students are opting to take on the online courses.
According to the report, out of the 4,812 students in the banking sector, 2,872 are enrolled in online banking courses.
The online courses cover everything from basic finance and tax to basic lending and investing.
The report, released on Wednesday by the Association of State Bank Teachers (ASBT), said OFEE has been gaining popularity among students and financial institutions due to its simplicity and affordability.
As the number of financial institutions offering online financial courses has grown over the last few years, OFEE courses are becoming popular with financial institutions as the students want to know about basic banking.
According to the ASBT report, more than half of the students surveyed had taken online financial course.
While online banking is still considered a risky investment as many banks and their customers do not know how to deal with financial transactions, students and their financial institutions are increasingly embracing OFEE as it is easier to understand and understand how to take care of a loan.
According the ASBTT survey, of the participants, more and more of them are opting for online financial classes to understand the basics of the financial system.
Of the respondents, about 1.2 lakh students are enrolled.