Financial Literacy is the first step towards financial prosperity. Financial literacy empowers the common man with knowledge which enables better financial decision making and ultimately financial well-being.

In order to create awareness at a large scale on key topics every year, Reserve Bank of India (RBI) has decided to observe one week in a year as ‘Financial Literacy Week’. RBI this year, across the States, will observe June 5 to 9 as the Financial Literacy Week. The messages identified for the week are (a) Know Your Customer (KYC), (b) Exercising credit discipline, (c) Going digital – UPI, (d) Going digital *99#(USSD) and (e) Awareness of grievance redressal mechanism.

The activities during the week will involve display of financial literacy material in bank branches, conduct of literacy camps for public at large in various districts, enhancing the literacy efforts at the Financial Literacy Centres etc. RBI officials will work with bankers and district level authorities to ensure the success of this initiative.

The week long activities for Maharashtra State were launched in a brief function held today in Mumbai Regional Office of RBI. Senior Executives from various banks with major presence in Maharashtra as also from other banks participated in the meeting. The financial literacy materials prepared by RBI for display in banks branches were released by Chief Guest, Shri G. Padmanabhan, Chairman, Bank of India, who also addressed the invitees and highlighted the significance of Financial Literacy initiatives. Dr.S. Rajagopal, Regional Director of RBI for Maharashtra and Goa chaired the meeting. Other Senior Execuitives who addressed the gathering included Shri R.P. Marathe, MD and CEO of Bank of Maharashtra, Shri Neeraj Vyas, Dy. Managing Director, SBI and Shri K.K. Taneja, General Manager, Central Bank of India.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/3284