CRISILAnalytical company CRISIL has signed a MoU (Memorandum of Understanding) with Finitiatives Learning India Pvt. Ltd. (FLIP) in a bid to promote financial awareness among the rural audience and create knowledge standards for the banking and financial services (BFS) sector.

The partnership period and the terms of the partnership has not been disclosed but CRISIL informed that FLIP will be responsible for developing financial literacy and awareness modules for the CRISIL foundation, which manages CRISIL’s corporate social responsibility (CSR) initiatives in financial awareness and literacy area.

Both the companies will also work together to create knowledge standards in the BFS industry, for which it will host a joint seminar to understand the skills related challenges faced by the industry and work towards developing a solution.

CRISIL currently runs a series of financial literacy workshops in the North East India, through which it claims to have reached over 1000 underprivileged rural adults which consisted of mostly women. It also runs another initiative that aims to provide skills to underprivileged school girls in Rajasthan. CRISIL claims that its MoU with FLIP will help them in taking both these initiatives to a wider audience.

FLIP currently offers a range of e-learning and industry endorsed certifications in BFS. It claims that more than 14,000 users have taken FLIP’s programs since its launch three years ago.