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A financial literacy programme was launched on Tuesday in Doddabelavangala in Bangalore Rural district by Governor of Reserve Bank of India, D. Subbarao. This programme is a part of the platinum jubilee celebrations of the RBI and is aimed at accomplishing 100% financial enclosure in India.
"The purpose of this ambitious programme is to make people understand the objectives of the Reserve Bank's responsibilities and functions and how we make a difference to the life of a common man," told Subbarao who was addressing the media.
Karnataka has been chosen by RBI as the pilot state for rolling out its financial literacy programme.
The financial literacy programme includes the showcasing of financial products and services which can be availed from various banks, interaction with bankers on their initiatives under the 100 percent financial inclusion as well as the embracing of information and communication technologies for the achievement of the goal.
"We have requested the state 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," Subbarao said.
For achieving the 100% financial enclosure the Reserve Bank will be opening no-frills accounts in every village with a population of 2,000.
"The bank accounts should be operational with facility to deposit money, take credit and make other transactions. Financial inclusion means all people or every household in the country must have an operative account in a bank," Subbarao pointed out.
To roll out the programme nationwide, the RBI's top officials will participate in similar programmes throughout the platinum jubilee year.
