The State Bank of Travancore (SBT) has opened a Rural Self Employment Training Institute and a Financial Literacy and Credit CounselingCentre (FLCC) at Kalavoor here.

The training institute was inaugurated by A.K. Pradhan, SBT General Manager (P&D) while Finance Minister T.M. Thomas Isaac inaugurated the FLCC. K.C. Venugopal, MP, released a book on financial literacy and empowerment besides inaugurating the first batch of trainees.

The institute, according to SBT officials, will provide training to self employment entrepreneurs, after realising the apt field for the person, which will be done through counselling. Persons from below poverty line families will be given preference in the training, which is free of cost. The fields in which training will be imparted include agriculture and allied activities, small scale industries of micro-level nature, repairing areas and other service sectors. Projects which reduce pollution will be given preference.

The FLCC aims to provide free financial literacy and credit counselling through face to face interactions as well as through other media including emails, fax, mobile phones etc., as per the convenience of the interested person. Education on responsible borrowing, proactive and early savings and offering debt counselling to individuals who are indebted to formal or informal financial sectors will also be part of the FLCC’s activities.

The Centre will also aim at educating people in rural and urban areas with regard to various financial products and services available from the formal financial sector; at making people aware of the advantages of being connected with the formal financial sector; and to take up activities that promote financial literacy, awareness of banking services, financial planning and debt-related distress of an individual.

More In: Kochi