RBI-OECD Workshop: Delivering Financial Literacy: Challenges, Approaches and Instruments

Welcome address by Dr. K C Chakrabarty, Deputy Governor, Reserve Bank of India

Special Remarks by Mr. Ashok Chawla, Finance Secretary, Ministry of Finance, Government of India

Address by Ambassador Richard A. Boucher, OECD Deputy Secretary General

Opening Remarks by Dr. D Subbarao, Governor, Reserve Bank of India

Keynote Address by Mr. Pranab Mukherjee, Hon’ble Finance Minister, India

Release of RBI book on ‘Financial Planning by First-time Earners’ authored by Mrs.Swapna Mirashi by Mr. Pranab Mukherjee, Hon’ble Finance Minister, India

Vote of Thanks by Mr. V.K. Sharma, Executive Director, Reserve Bank of India

BUSINESS SESSION I: FINANCIAL LITERACY AS A MEANS TO FINANCIAL INCLUSION

CHAIRPERSON: Dr. K C CHAKRABARTY, DEPUTY GOVERNOR, RESERVE BANK OF INDIA

PANELISTS:

• Dr. K P Krishnan, Joint Secretary - Capital Markets , Ministry of Finance, Government of India
• Dr. Muliaman Haddad, Deputy Governor, Bank Indonesia or Mr. Halim Almasyah, Director, Banking Research and Regulation Department
• Dr. Zhang Hongsheng, Vice Head of Division on Credit Information System Bureau of Peoples’ Bank of China
• Ms. Olivia Davids, Head of Department, Consumer Education, Financial Services Board, South Africa

This session will focus on:

• The importance of developing financial inclusion programmes combined with financial literacy endeavours
• OECD framework for financial literacy
• Financial literacy and awareness – importance of developing instruments for effective and credible financial inclusion including the use of social networking sites
• Challenges and solutions

LUNCH HOSTED BY DR. K C CHAKRABARTY, DEPUTY GOVERNOR, RESERVE BANK OF INDIA


BUSINESS SESSION II: ROLE OF INSTITUTIONS IN DELIVERING FINANCIAL LITERACY

CHAIRPERSON: MR. ANDRE LABOUL, HEAD, OECD FINANCIAL AFFAIRS DIVISION AND CHAIR, INTERNATIONAL NETWORK ON FINANCIAL EDUCATION (INFE)

PANELISTS

• Ms. Flore-Anne Messy, Principal Administrator, OECD
• Mr. Adinan Maning, CEO, Bank Simpanan Nasional, Malaysia and President, Asia-Pacific Region for te World Savings Banks Institute
• Mr. Gary Millner, Director of Operations of the UK Personal Finance Education Group
• Mr Alok Prasad, Citibank and a speaker from Meljol (Presentation of a successful public-private partnership in India)

This session will focus on:

• Role of institutions and self regulatory bodies in the financial literacy process
• How to manage possible conflicts of interest
• Development of codes of conduct and quality label
• Responsible selling practices
• Support to financial literacy programmes including school programmes
• Other public-private partnerships

NETWORKING BREAK

BUSINESS SESSION III: CAPACITY BUILDING IN FINANCIAL LITERACY

CHAIRPERSON: MS. SUE LEWIS, HEAD OF SAVING AND INVESTMENTS, UK HM TREASURY, CHAIR OF THE OECD/INFE SUB-GROUP ON FINANCIAL EDUCATION PROGRAMMES IN SCHOOLS

PANELISTS

• Mr. V.S. Das, Executive Director, Reserve Bank of India
• Mr. Jacub Skiba, Member of the Board, National Bank of Poland
• Ms. Delia Richards, Chair, ASIC in the Community, ACT Regional Commissioner, Acting Executive Director Consumer Protection & International
• Mr. Jose Alexandre Cavalcanti Vasco, Head, Education and Investor Assistance Department, CVM, Brazil
• Shaun Mundy, former head of financial capability at the FSA UK

This session will focus on:

• Level of literacy of the young population
• Importance of teaching children about personal finance at early age
• Main challenges to the integration of financial education in school programmes
• Solutions, international best practices, OECD Guidelines
• Training of teachers, development of materials and adequate pedagogic tools
• Evaluation of programmes

PRE-DINNER TALK BY MS. ELA BHATT (SEWA) ON OUTREACH AND REACHING OUT

RECEPTION AND DINNER TO BE HOSTED BY MR. V K SHARMA, EXECUTIVE DIRECTOR, RESERVE BANK OF INDIA

END OF DAY 1

CHAIRPERSON: MR. R. GOPALAN, SECRETARY, DEPARTMENT OF FINANCIAL SERVICES, MINISTRY OF FINANCE, GOVERNMENT OF INDIA

PANELISTS:

• Ms. Koid Swee Lian, Director of Consumer and Market Conduct Department, Bank Negara Malaysia
• Ms. Belinda G. Caran, Acting Deputy Director and Head, Financial Consumer Affairs Group, Bangko Sentral Ng Pilipinas
• Ms. Christina Tan, Deputy Director, MoneySENSE Secretariat, Monetary Authority of Singapore (MAS)
• Shri P.K. Tiwari, Executive Director, Provident Fund Regulatory and Development Authority

This session will focus on:

• Development of financial literacy initiatives and strategies in India and in South and South East Asia
• Importance of financial literacy in the region: Main issues, challenges and solutions
• OECD Principles and Good Practices
• Evaluation of programmes

NETWORKING BREAK

BUSINESS SESSION V: ASSESSING NEEDS AND GAPS: DEVELOPMENT OF BASELINE SURVEYS ON FINANCIAL LITERACY AND INCLUSION

CHAIRPERSON: MR. HELMUT-HANS KOTZ, MEMBER OF BUNDESBANK EXECUTIVE BOARD AND CHAIR OF OECD COMMITTEE ON FINANCIAL MARKETS

PANELISTS

• Mr. Bruno Levesque, OECD Principal Administrator, OECD/INFE
• Ms. Diana Crossan, Retirement Commission, New Zealand
• Ms. Norasi Bukhamana, Team Executive, Strategy Team, Central Bank of Thailand
• Dr. Monique Cohen, Founder-President, Microfinance Opportunities, Washington

This session will focus on:

• Importance of assessing the needs and gaps in respect of financial literacy and inclusion
• Main challenges in the development of a related methodology and its implementation
• Identified solutions and OECD/INFE good practices
• Results and their follow up

CLOSING REMARKS

• MR. ANDRE LABOUL, HEAD, OECD FINANCIAL AFFAIRS DIVISION AND CHAIR, INTERNATIONAL NETWORK ON FINANCIAL EDUCATION (INFE)
• MR. HELMUT-HANS KOTZ, MEMBER OF BUNDESBANK EXECUTIVE BOARD AND CHAIR OF OECD COMMITTEE ON FINANCIAL MARKETS
• Mrs. USHA THORAT, DEPUTY GOVERNOR, RESERVE BANK OF INDIA
• MR. V K SHARMA, EXECUTIVE DIRECTOR, RESERVE BANK OF INDIA

LUNCH HOSTED BY THE OECD

OECD/RBI Roundtable on the Role of Central Banks in Financial Literacy and Inclusion
(For Representatives of Central Banks Only.)