Reserve Bank of India is all set to launch a unified financial literacy campaign in government schools, remote areas, and among members of farmers clubs and self-help groups.
Aim
The aim is to educate the people that the linkage with a bank should go beyond merely opening an account.
People should make effective and informed decisions with available financial resources and park their savings only with regulated entities, banking sources told The Hindu .
Money saved in bank accounts would help customers develop a healthy relationship with the bank officials, and in turn would enable them to obtain loans
To make the campaign yield the desired results, the RBI will involve officials of various departments, banks, and National Bank for Agriculture and Rural Development.
Folk arts of respective regions will be used to disseminate the concepts of financial literacy.
The Lead District Manager, V. Ganesan, said that children need to be taught the importance of thrift.
It will help them get education loans easier at a later stage as by then they will be friends with the banking system, said officials.
Apart from teaching financial literacy that automatically leads to financial inclusion, the campaign would explain to the people the do’s and don’ts while in the banking system.
Customers should not disclose the bank account details over phone or mails to anyone, and they should not fall prey to offers of higher interest rates offered by firms that are outside the circle of regulated entities, said bank officials.
Aim
The aim is to educate the people that the linkage with a bank should go beyond merely opening an account.
People should make effective and informed decisions with available financial resources and park their savings only with regulated entities, banking sources told The Hindu .
Money saved in bank accounts would help customers develop a healthy relationship with the bank officials, and in turn would enable them to obtain loans
To make the campaign yield the desired results, the RBI will involve officials of various departments, banks, and National Bank for Agriculture and Rural Development.
Folk arts of respective regions will be used to disseminate the concepts of financial literacy.
The Lead District Manager, V. Ganesan, said that children need to be taught the importance of thrift.
It will help them get education loans easier at a later stage as by then they will be friends with the banking system, said officials.
Apart from teaching financial literacy that automatically leads to financial inclusion, the campaign would explain to the people the do’s and don’ts while in the banking system.
Customers should not disclose the bank account details over phone or mails to anyone, and they should not fall prey to offers of higher interest rates offered by firms that are outside the circle of regulated entities, said bank officials.