ASK

ARTHIK SAKSHARATA KENDRA

 

Financial Literacy is an important component of Comprehensive Financial Inclusion. It serves two purposes, Firstly it induces demand for available financial products & Secondly it protects people from losses incurred out of the activities of unscrupulous players in the financial market.

 

Key Features:

1) Universal financial literacy

2) GP level financial Inclusion Plan

3) Single window service

4) Comprehensive financial inclusion

5) Low cost model with an investment of Rs.30000/-

6) In case of BC, it is cost recovery model from Bank.

 

Process Involved:

1) Identification of FL CRP (3 per GPLF as per first NRLP model)

2) Development of Training Modules by translation /adoption in vernacular.

3) Training of FL CRP in RSETI.

4) Training of WSHG members.

5) Further Training of FL CRP under SIDBI-PSIG Programme.

6) Designation of District Level FIC (Retired Bankers) as Resource Persons for regular handholding of FL CRP.

7) Integration of BC model into FLCRP

 

Outcomes:

1) Single window financial inclusion service by WSHG members

2) Impetus to Individual Bank customers, Enrolment under PMJJBY/PMSBY/APY on saturation mode, creating awareness on prudent investments.

3) Proper utilization and repayment of funds helps GPLF and banks; 27 NPA free Panchayats

4) Becoming a nerve centre of interactions with other agencies like NABARD, SIDBI, RBI

5) Taking up campaigns of the banks; e.g. Atal pension campaign by SBI