The program in its first phase is reaching out to over 5000 schools across India.

New Delhi, India -- (ReleaseWire) -- 08/12/2013 --National Finance Olympiad, a program started by International Institute of Financial Markets Ltd, today announced the commencement of the Financial Literacy Artwork Competition. It would be for the first time that in India, such a competition has been organised for sensitizing school children towards the art and the need of managing money.

National Finance Olympiad would reach out to over 5000 schools in India to propagate financial literacy and has received tremendous support from schools across India. The Financial Literacy Artwork Competition is an online competition which the body seeks to undertake on its online social media platforms.

"It is humbling to see that school's are actively affiliating themselves to propagate Financial Literacy among their school kids. We are certain that our new initiative of Financial Literacy Artwork Competition will further motivate the students to participate in this drive and will put Financial Literacy in their radar of thoughts. For us, that is where we want to start", said Mr. Pranav Chaturvedi, Co-Founder and Director at IIFM on the launch of this nationwide competition.

"India was at the bottom among 16 countries that were surveyed by Mastercard in the Asia-Pacific region for its index for financial literacy with 59 index points.We need more such initiatives to educate our population",he further added.

The entries for the Artwork Competition are being accepted till August 15th, 2013. For details on the Financial Literacy Artwork Competition visit their Artwork tab on their Facebook page