RBI Observes Financial Literacy Week 2021
The Reserve Bank of India, Chandigarh office organised the inaugural function of the Financial Literacy Week (FLW) 2021 on February 08, 2021. Shri J.K. Pandey, Regional Director, RBI, Haryana, Punjab and UT Chandigarh inaugurated the function at Hotel Taj, Chandigarh in the presence of senior officials from NABARD, SIDBI, banks, government and media.
The Financial Literacy Week is an initiative of RBI to promote awareness on key topics every year through a focused campaign since 2016 with an endeavour to reach out to a wider section of the population during the FLW. The activities during the FLW are broadly common across the country to maximise its impact.
FLW 2021 will be observed during February 08-12 on the theme of “Credit Discipline and Credit from Formal Institutions”. With a view to improving credit flow in the Indian economy on one hand and on the other to reduce NPAs, the FLW will focus mainly on ‘Timely Repayment & Credit Score’;’Borrowing from Formal Institutions only’ and ‘Responsible Borrowing’.Reserve Bank of India (RBI) has also developed content in the form of posters and audio-visuals on the said topics for disseminating awareness amongst the general public.
The posters prepared by RBI in the regional languages for digital display were unveiled in the presence of senior officials from State Government, RBI, NABARD, SIDBI, State Level Bankers Committee (SLBC), Haryana and Punjab, UTLBC, UT Chandigarh, State Bank of India and other banks/stakeholders.
Shri J.K. Pandey, Regional Director, RBI speaking on the occasion said that the responsible borrowing by developing credit discipline and encouraging credit from the formal sector is a key component to achieve the vision of “A financially aware and empowered India”. He emphasised that the credit discipline has to be nurtured and reinforced to ensure that credit becomes available to all, thus leading to expansion of economic activity and growth in the overall economy of the country.
As part of the FLW activities, banks have been advised to disseminate information and create awareness among its customers and public on the FLW 2021 theme by displaying posters, developed by RBI, on their websites, ATMs and digital display boards deployed in their branches. The officials from RBI, Scheduled Commercial Banks and Small Finance Banks will conduct financial literacy camps for the public across the country during the FLW while observing the social distancing norms in force due to COVID-19 pandemic. A centralized media campaign through major television and radio channels will also be undertaken by RBIto broadcast essential financial awareness messages on this theme.
