RBI’s Financial Literacy Drive Programme for Financial Inclusion

September 20, 2009

The idea behind the Financial inclusion is that all people or every household in the country must have an operative account in a bank. To achieve 100 per cent financial inclusion across the country,Reserve Bank of India has decided to work with state governments for opening no-frills accounts (operational with facility to deposit money, take credit and make other transactions) in every village with a population of 2,000.

RBI had selected the state of Karnataka for launching the financial literacy program. Village Doddaballavangala in Bangalore rural was selected as a part of RBI’s platinum jubilee celebrations (1935-2009) where this Financial Literacy Drive was started recently.

What is the Objective of This Programme?
The purpose of the programme is to make people understand the objectives of RBI’s responsibilities and functions, and how RBI makes a difference to the life of a common man.

Besides RBI has asked Karnataka government to incorporate the financial literacy course in the text books for students of class five, class seven and class nine from the next academic year. The books, which will be distributed freely to the students of these classes, will be translated in the local language.