A group of children was initiated into the saving habit by the Regional Director of the Reserve Bank of India, J. Sadakkadulla, at a workshop on ‘Spreading financial literacy with focus on depositor education and awareness’ organised in association with the International Network of Alternative Financial Institutions (INAFI) India on the occasion of International Girl Child Day here on Tuesday.
Addressing newsmen on the sidelines of the workshop, Dr. Sadakkadulla said that the RBI had identified 20 organisations, including INFAI India of Dhan Foundation, Madurai, to create awareness of financial literacy, with reference to savings, loans, pension and insurance, among rural people, especially women. Though many initiatives had been taken since 1904 for financial inclusion, the term ‘FI’ was being used in the last decade.
Woman self-help group leaders would be trained to create awareness of FI in their respective areas, he said.
M. P. Vasimalai, Executive Director, Dhan Foundation, said that 3.69 lakh families had come out of the clutches of moneylenders through FI all over the country under the initiatives of INFAI India.
They were creating faith in the slogan, ‘saving first, credit next, insurance must and pension best,’ among rural people. M. Kalyanasundaram, Chief Executive, INFAI India, said that the RBI programme focussed on creating awareness of both financial inclusion and financial literacy.
