RBI to launch Financial Literacy Week on Monday; focus on farmers this year

Financial Literacy Week 2019 will be observed from June 3-7 on the theme of "Farmers" and how they benefit by being a part of the formal banking system, said a press note from Reserve Bank of India (RBI) on Saturday. "Financial Literacy Week is an initiative of RBI to promote awareness of key topics every year through a focused campaign. Growth in agriculture is necessary for the overall economic growth and finance is an essential enabler for the same...RBI is actively involved in formulating policies that enhance the flow of credit to the farming community," said Yogesh Dayal, Chief General Manager, RBI.

"In recent years, the Bank has undertaken several initiatives to strengthen credit delivery mechanism and financial inclusion," Dayal added. In order to build awareness and disseminate financial literacy messages to the farming community, "focused content in the form of posters and leaflets have been prepared for dissemination. Banks have been advised to display the posters and content in their rural bank branches, Financial Literacy Centers, ATMs and websites," he further added.

The RBI will undertake a centralized mass media campaign during the month of June on Doordarshan and All India Radio to disseminate essential financial awareness messages to farmers. "It is RBI's endeavour to reach out to the farming community and all stakeholders are requested to coordinate and make this financial literacy campaign a success," he said. 

(With inputs from agencies.)