The Reserve Bank of India (RBI) is organizing ‘Financial Literacy Week 2019’.It will be observed from June 3 to June 7 across the India. It is an annual initiative by Reserve Bank of India (RBI) to promote awareness on key topics through a focused campaign.
According to the press note from RBI on Saturday, the theme of Financial Literacy Week 2019 is ‘Farmers’and as to how how they can benefit by being a part of the formal banking system.
The main objective of the initiative is to create awareness about financial products and services, good financial practices, going digital and consumer protection.
During the Financial Literacy week, the messages disseminated will be focussed on Responsible Borrowing & Agricultural Finance.
In order to build awareness and disseminate financial literacy, RBI’s Financial Education Initiative will include the Financial Awareness Messages content in the form of booklets, posters and leaflets. It will provides basic financial literacy messages for information to the farming community and general public.
The RBI will undertake a centralized mass media campaign during the month of June on Doordarshan and All India Radio to disseminate essential financial awareness messages to farmers.
Tailored financial literacy content developed by RBI can be used by the trainers in financial literacy programmes primarily for five target group that are Farmers, Small entrepreneurs, School children, Self Help Groups (SHG) and Senior Citizens.
For the benefit of the general public on topics relating to financial Literacy, RBI has designed Audio Visuals on Basic Financial Literacy, Unified Payments Interface(UPI) and Going Digital.
Banks, (both urban and rural) have been advised to display the posters and content in their rural bank branches, Financial Literacy Centers, ATMs and websites.
The importance of this initiative is that With 60% of country’s population employed in agriculture, growth in agriculture becomes necessary for overall economic growth and finance act an essential enabler for the same. Thus, RBI is actively involved in formulating policies that enhances flow of credit to farming community.