NCFE (National Centre for Financial Education)

What NCFE (National Centre for Financial Education) does

NCFE (National Centre for Financial Education) is an Indian non-profit organization, headquartered at NISM Bhavan in Vashi, Navi Mumbai, that operates as the dedicated financial literacy body co-promoted by India's four principal financial regulators — the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI), and Pension Fund Regulatory and Development Authority (PFRDA). Its mission is to improve financial awareness and decision-making among India's adult population, school students (classes 6-10), teachers, and young graduates through standardized, regulator-endorsed curricula that are offered free of charge.

The organization's core product portfolio spans six programmatic and three platform/framework offerings: FEPA for adults (farmers, women groups, ASHA/Anganwadi workers, self-help groups), FETP/MSTP for training school teachers as "Money Smart Teachers," MSSP (Money Smart School Program) for in-school delivery, FACT for graduates and postgraduates, NFLAT as a standardized assessment test, and the supporting E-Learning Management System (E-LMS) platform and a Financial Literacy mobile app on Google Play and the Apple App Store. The E-LMS and mobile app together form the self-serve digital delivery layer, while empanelled Financial Education Trainers (FETs) form the physical, in-person delivery layer; the curriculum is localized into 12 Indian languages. Overarching strategic artifacts include the National Strategy for Financial Education (NSFE) framework, the National Financial Literacy and Inclusion Survey (NFLIS), and the Mid-Term Evaluation (MTE: NSFE 2025).

NCFE does not operate a commercial revenue model. Programs, E-LMS courses, and mobile app content are free to all registered users. Operating funding flows from the four promoter regulators and from project-specific partnerships such as the 2025 CGAP Financial Literacy Solutions Sprint. The organization reaches customers — adult learners, school students, teachers, and young graduates — through hybrid distribution: schools and teacher networks for enterprise-style program delivery, FETs for community-based adult training, and direct self-serve access via E-LMS and mobile app. Customer-facing language is available in English plus 12 Indian languages, and the organization markets through organic social channels (Facebook, Twitter, YouTube, LinkedIn, Instagram), its "Sanchay" newsletter (18+ editions), and public hackathons such as Innovate4FinLit.

Name

NCFE (National Centre for Financial Education)

Legal name

National Centre for Financial Education

Website

https://ncfe.org.in

Company type

Private

Operating status

Operating

Short description

NCFE is an Indian non-profit co-promoted by RBI, SEBI, IRDAI, and PFRDA that delivers free financial literacy programs — FEPA, MSSP, FETP, FACT, NFLAT — and an E-LMS platform with a mobile app to adults, school students, teachers, and young graduates across India.

Ownership category

akta.pro rank

Product category

Financial Education Services

NAICS

Educational Services (611), Educational Support Services (61171)

SIC

Services-Educational Services (8200)

akta.pro primary industry

Financial & Consumer Literacy (Banking, Credit, Contracts) (EDAAAAAG)

akta.pro secondary industries

Personal Finance & Financial Literacy for Students (EDAMAIAH), Budgeting & Cash-Flow Management (EDAAAJAA)

Keywords

• Financial literacy education
• Financial awareness programs
• Money management training
• Investor education services
• Financial inclusion programs

Headquarters

HQ city

Navi Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Government/Regulatory Funding: NCFE is promoted by and funded through India's financial regulators including RBI, SEBI, IRDAI, and PFRDA. As a non-profit financial education body, the organization operates on government allocations rather than commercial revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

NCFE provides free financial literacy education programs and digital learning platforms across India, targeting adults, school students (classes 6-10), teachers, and young graduates. Its offerings include structured programs such as FEPA, FETP/MSTP, FACT, MSSP, and FEPCS, supported by an E-Learning Management System (E-LMS), a mobile application, and assessment tools like NFLAT, all delivered through a network of empanelled trainers and digital channels in 12 Indian languages.

Product overview

NCFE offers a comprehensive portfolio of financial education programs and platforms designed to improve financial literacy across India. The core offerings include: FEPA for adults (launched September 2019), FETP for school teachers, FACT for graduates, MSSP for schools, and NFLAT for assessment. Supporting infrastructure includes the E-LMS e-learning platform, a Financial Literacy mobile app (available on Google Play and App Store), and strategic frameworks like NSFE and NFLIS. The programs are built on two pillars: education and awareness, aiming to establish sustainable financial literacy campaigns. The company is promoted by major Indian financial regulators: RBI, SEBI, IRDAI, and PFRDA.

Differentiator

Problem solved

Functional benefit

Brands

• FEPA: Financial Education Programme for Adults - a financial literacy program for the adult population including farmers, women groups, and other target segments.
• FETP
• FACT
• MSSP
• NFLAT
• E-LMS
• NSFE
• NFLIS

Products and services

• FEPA (Financial Education Programme for Adults) A financial literacy programme designed to spread financial awareness among the adult population including farmers, women groups, ASHA workers, Anganwadi workers, self-help groups, organization employees, and skill development trainees. Conducted in line with the National Strategy for Financial Education, focusing on Special Focused Districts.
• FETP (Financial Education Training Program) An initiative for providing unbiased personal financial education, specifically designed for school teachers handling classes 6 to 10 across India. Teachers are certified as 'Money Smart Teachers' after completion. The program has 100+ institutes registered and 400+ students participated.
• FACT (Financial Awareness and Consumer Training)
• MSSP (Money Smart School Program)
• NFLAT (National Financial Literacy Assessment Test)
• E-LMS (E-Learning Management System)
• Financial Literacy App
• MSTP (Money Smart Teacher Program)
• FEPCS (Financial Education Programme for Consumer)

Quantifiable outcome

• 100+ institutes and 400+ students reached through FACT program
• +1 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered flagship and core.

• CGAP (Consultative Group to Assist the Poor)flagshipStrategic or Co-development Partner · 1 January 2025CGAP is partnering with NCFE for the Financial Literacy Solutions Sprint to develop innovative solutions for financial literacy in India.
• National Institute of Securities Markets (NISM)coreOthers · 1 January 2025NCFE is housed at NISM Bhavan in Vashi, Navi Mumbai. NISM is an educational initiative of SEBI.
• Reserve Bank of India (RBI)coreOthersRBI is one of the four co-promoters of NCFE along with SEBI, IRDAI, and PFRDA. RBI promotes financial inclusion and supports financial literacy initiatives through NCFE.
• Securities and Exchange Board of India (SEBI)coreOthersSEBI is one of the four co-promoters of NCFE, supporting investor education and financial literacy initiatives.
• Insurance Regulatory and Development Authority of India (IRDAI)coreOthersIRDAI is one of the four co-promoters of NCFE, supporting insurance awareness and financial literacy.
• Pension Fund Regulatory and Development Authority (PFRDA)coreOthersPFRDA is one of the four co-promoters of NCFE, supporting pension and retirement planning awareness.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• National Endowment for Financial Education (NEFE):
• Money and Pensions Service (MaPS): UK's national financial capability body, set up under government direction to improve financial wellbeing. Closest international analog to NCFE's mandate as a national, government-backed financial education body.

Direct peers

• RBI - Financial Literacy Initiatives: The Reserve Bank of India's own financial literacy programs (FLCs, village-level camps). Operates parallel to NCFE under the same promoter (RBI) with overlapping adult-population financial literacy mandates.
• SEBI - Investor Education Initiatives: SEBI's investor education arm delivering investor awareness through seminars, workshops, and digital content. Directly comparable to NCFE's mandate on the securities and capital-markets side of financial literacy.
• PFRDA - Pension Awareness Programs: PFRDA's pension-literacy initiatives targeting NPS subscribers and retirement planning awareness. The fourth co-promoter of NCFE and a direct parallel in scope.
• National Institute of Securities Markets (NISM): SEBI's educational arm, housed in the same NISM Bhavan building as NCFE. Provides financial education, certifications, and training for securities-market participants — directly comparable as an Indian regulator-backed financial-education body targeting professional and retail learners.
• IRDAI - Insurance Awareness Campaigns: IRDAI's Bima Bharosa and consumer education campaigns on insurance literacy. Functions as NCFE's parallel insurance-focused counterpart under the same co-promoter structure.

Market position

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ncfeindia
• YouTubeyoutube.com/user/ncfeindia
• Facebookfacebook.com/ncfeindia
• LinkedInlinkedin.com/company/ncfeindia
• Instagraminstagram.com/ncfeindia

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NCFE (National Centre for Financial Education)