Launching the Lighthouses of Financial Literacy
T he Centre for Financial Literacy (CFL) has become the lighthouse of financial literacy for the poor. Financial Inclusion is an integral part of the development agenda of our Government and it envisages outreaching the hitherto unreached in the entire length and breadth of the country. As a measure of driving inclusive growth, Government/RBI has taken up a lot of initiatives, to mention a few, Jan Dhan Account, Simplified KYC Norms, Banking Services at the doorstep of the community through Business Correspondent, Social Security cover through PMJJBY, PMSBY, APY, etc. While all the above initiatives meet the supply stream of Financial Inclusion, Government/RBI have also simultaneously focused on the demand-side by enabling the community to make informed choices of financial products and services which is primarily achieved through Financial Literacy awareness initiatives.
In spreading the financial literacy across the country, RBI came out with a multi-stakeholder approach by roping in the services of Development Agencies to reach out to the community, particularly in the unorganized sector. Keeping this in mind, a Pilot experiment of establishing the Centre for Financial Literacy (CFL) at block level has been made in select 80/100 blocks in the year 2017/2019 wherein DHAN Foundation has shared the privilege of operating 25 CFLs across the country.
Encouraged by the experience of CFL Pilot and also as observed in the National Strategy for Financial Inclusion (2019-24) Document which stipulates scaling up FL awareness to all blocks of the country, RBI has now envisaged scaling up the CFL project to cover the entire country in phases. In its first phase of scaling up, DHAN Foundation has been assigned with the responsibility of operationalizing 162 CFLs spread across 5 States and 2 UTs in collaborative partnership with sponsor banks with whom DHAN Foundation has entered into an agreement spelling out the details of project design, staff structure, financial budgeting as also mutual role and responsibility for successful implementation of the project.
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Inauguration of CFL activities at Kunigal Location, Tumkur Region. Mr Rajesh, SBI manager and SBI field officer have graced the occasion with their presence. |
Inauguration of CFL activities at Kortagere and Madhugiri locations, Tumkur Region, Karnataka. Smt.Keerthi Prabha, DDM, NABARD Tumkuru and Shri Balakrishna Yellurkar, LDM Tumkuru had felicitated the event. |
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Inauguration of CFL activities at Kollegala (Chamarajanagar), Mysore Region. Mr. Srikanth, LDM, Mr. Arunkumar, Director, RSETI, Mr. Ashwinkumar, BM, SBI, Mr. Prakash, BM, BOI have felicitated the event. |
Inauguration of Centre for Financial Literacy (CFL) activities at Yelandur Location, Mysore Region, Karnataka in the presence of Smt. Shraddha Srivatsav, RM, SBI, Sri. Shrikant, LDM, Chamarajanagar, Smt. Hitha Suvarna, DDM, NABARD, Sri. Srinivas, Chief Manager, SBI, and Sri Gangadhar, Taluk Panchayat Office |
Launching the Lighthouses of Financial Literacy
An exhibition was organized at Gandhi Memorial Museum where, both the community members, ornithologists, botanists and professional photographer were invited to judge the skills of participants. Best Photograph, Best Photographer and notable photographs were awarded with cash prizes.