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NEW DELHI: In a landmark collaboration set to revolutionize India’s education system, the Institute of Chartered Accountants of India (ICAI) and the Central Board of Secondary Education (CBSE) have signed a Memorandum of Understanding (MoU) to promote commerce-based skill courses. On November 21, 2024, ICAI’s Committee on Career Counselling and CBSE’s Department of Skill Education formalized their partnership to enhance students’ employability in the Banking, Financial Services, and Insurance (BFSI) sector.
This pioneering initiative will integrate skill development into the academic framework, providing students with industry-ready competencies in accounting, finance, and taxation. The collaboration will see ICAI developing comprehensive course content, syllabi, study materials, and training modules tailored to meet industry demands. Additionally, ICAI will organize workshops, training sessions, and enrichment activities to educate both students and teachers about diverse career opportunities in accountancy and related fields.
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Highlighting the importance of bridging the gap between academic knowledge and professional expertise, the partnership will involve joint awareness programs for school principals, teachers, and management teams from CBSE-affiliated schools across India. These programs emphasize the significance of commerce-based skill courses and their impact on students’ career development.
ICAI signed a MoU with CBSE today at Bhubaneswar, Odisha to promote commerce-based skill courses for students across the country. The MoU was signed by CA. (Dr.) Jai Kumar Batra, Secretary-ICAI and Shri Rahul Singh, IAS, Chairman-CBSE in presence of other dignitaries. pic.twitter.com/IwEu1vtz0Y
— Institute of Chartered Accountants of India – ICAI (@theicai) November 21, 2024
Furthermore, capacity-building initiatives will be organized for teachers who instruct commerce-related subjects. These initiatives will ensure that educators are equipped with the necessary knowledge and tools to deliver skill-oriented courses to their students effectively.
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The collaboration aims to position India as a hub for skilled professionals in the BFSI industry, creating significant business opportunities for financial institutions, accounting firms, and educational service providers. By focusing on skill development and industry relevance, this initiative will ensure that Indian students are better prepared for the future workforce.
The MoU between ICAI and CBSE marks a significant step toward transforming India’s education landscape, setting a strong foundation for skill-based education. With support from both institutions, students will gain access to world-class education and training, unlocking new career opportunities in the BFSI sector and beyond. This collaboration promises to create a future-ready workforce that meets the evolving needs of India’s growing economy.
