Inspired by vision DRISHTI, ICAI adopts tech for enhancing financial literacy; launches e-Office to streamline operations

· Aligning with mission ‘VitiyaSaksharta’ in the country, ICAI Organized Finfluencers Meet to reach out to masses to spread financial literacy

● 41 prominent social media influencers like CA. Rachana Ranade, CA. Rahul Malodia, CA. Kushal Lodha, CA. Twinkle Jain, CA. Jay Desai and many others attended.

● Adopting Sustainable Practices, ICAI launches e-Office to boost productivity, streamline operations

Bengaluru, 8 April 2024: Taking forward the Government of India’s mission of ‘VitiyaSaksharta’ (Financial Literacy) to the next level and promoting understanding of tax laws, accounting, and diverse facets of the financial system, Financial & Tax Literacy Directorate (FTLD) of the Institute of Chartered Accountants of India (ICAI), organized a Finfluencers meet in New Delhi wherein leading financial influencers congregated to deliberate on educating masses on financial knowledge. Over 41 prominent social media influencers joined hands for this noble cause.

Surveys reveal that only 27 per cent of India’s population is financially literate. Additionally, only 16.7 per cent of Indian students have a basic understanding of finance and money management. To reach out to wider audiences and recognize the immense potential of social media in reaching a wider audience, ICAI is leveraging the power of social media to enhance financial literacy across the nation. The collaborative cohort will consist of respected financial influencers whose expertise and reach on social media platforms can significantly contribute to this noble cause. These influential personalities, as esteemed members of the accounting profession possess the knowledge and credibility and will serve as brand ambassadors to effectively communicate complex financial concepts in an accessible manner to the general public.

During the event CA. Ranjeet Kumar Agarwal, President of ICAI, expressed his enthusiasm about this initiative, stating, “As the world’s largest accounting body, ICAI has a social responsibility to educate the common man to make more informed financial decisions. As financial leaders, we must engage, evolve, and work together to educate and empower the citizens of the country and create a sustainable financial ecosystem for the nation. The expertise and reach of our social media influencers will surely make a difference and significantly contribute to this noble cause.”

He further urged members and financial influencers to lend a voice and vision toward leveraging technology for financial inclusion and empowering citizens of the country.

On this occasion CA. Charanjot Singh Nanda, Vice-President of ICAI, said “Embracing our role as financial soldiers ICAI is spearheading a transformative movement leading towards financial awareness in the country. It showcases our disciplined vision and unwavering commitment to financial literacy. We continue to uphold our core values of tax literacy and financial independence to contribute towards the growth of the nation.”

Through this collaborative effort, ICAI aims to reach even more people across various demographics, including students, professionals, entrepreneurs, and the general public. ICAI and the influencers will develop and disseminate educational content, host interactive sessions, and engage with audiences on social media platforms. Their collective efforts will focus on addressing key financial topics, debunking myths, and providing practical insights to help individuals navigate.

Leveraging Technological Advancements, ICAI launches e-Office for Sustainable Operations

Harnessing the power of technology to enhance productivity and streamline operations in order to serve our members and stakeholders better, ICAI on April 5th 2024 launched e-Office under the theme Service with Sustainability. The e-Office platform was inaugurated by CA. Ranjeet Kumar Agarwal, President, ICAI in the presence of CA. Charanjot Singh Nanda, Vice-President, ICAI along with Central Council Members. The e-Office framework developed by the National Informatics Centre (NIC) and deployed by trusted partner RailTel, will not only fast-track internal communication processes but will also ensure transparency and increased efficiency of the officials.

This strategic shift towards digitization underscores ICAI’s commitment to fostering greater accountability and transparency in administrative processes. With the adaptation of e-Office, ICAI aims to go digital with paperless transactions ushering in more efficient, effective work processes. It will further reduce costs incurred in the storage and preservation of physical files and also reduce data loss. It shall also facilitate working from anywhere, anytime, thereby improving work efficiency.

The e-Office will be implemented in a phased manner, starting with integration within ICAI Committees before extending to regional offices, branches, and chapters abroad facilitating the smooth movement of papers and notes across all organizational levels. Its implementation will pave the way for a new era of revolutionizing our internal communication processes to better serve our community and planet.