Financial Literacy Week 2019 organised by RBI
The Financial Literacy Week 2019 will be observed from 3 June to 7 June. It is an annual initiative by Reserve Bank of India (RBI) to promote awareness on key topics through a focused campaign.
- The theme of Financial Literacy Week 2019 is ‘Farmers’ which focuses on how they can benefit by being a part of the formal banking system.
- Objective: The aim of 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.
- Measures: RBI’s Financial Education Initiative includes-
- The FAME (Financial Awareness Messages) booklet– which provides basic financial literacy messages for information of general public.
- Tailored financial literacy content developed by RBI which can be used by the trainers in financial literacy programmes primarily for five target groups namely Farmers, Small entrepreneurs, School children, Self Help Groups (SHG) and Senior Citizens.
- RBI has designed Audio visuals on “Basic Financial Literacy“, “Unified Payments Interface” (UPI) and “Going Digital” for the benefit of general public on topics relating to Financial Literacy.
- Both Rural and Urban banks are advised to display the posters and content in their branches, Financial Literacy Centers, ATMs and websites.
- During month of June, RBI will also undertake a centralized mass media campaign on Doordarshan and All India Radio (AIR) to disseminate essential financial awareness messages to farmers via these mediums.
- Significance: 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.
Month: Current Affairs - June, 2019
Category: Economy & Banking Current Affairs