The NABARD-sponsored scheme will benefit 25,000 villagers in Rajasthan

A National Bank for Agriculture and Rural Development (NABARD)-sponsored financial literacy project in the rural areas of Jalore and Sirohi districts in Rajasthan is expected to benefit about 25,000 villagers by the end of this month by creating awareness of basic concepts of savings, deposits, loans and insurance.

The NABARD has taken the initiative launched through a private agency, Fino Pay Tech, with the objective of promoting financial literacy leading to greater financial inclusion and empowerment which has been identified as a priority by the Reserve Bank of India.

Fino Pay Tech vice-president Shweta Aprameya said here on Thursday that the agency’s representatives are organising a series of nukkad nataks (street plays) in the local dialect in about 250 villages highlighting the significance of financial literacy. The plays explain the concepts such as basic budgeting, saving and deposits, availing loans from banks, importance of insurance, secure remittances through formal banking channel and Kisan Credit Cards.

“The project’s objective is to create awareness about financial products and services among the rural populace to enable them to get benefit of the formal banking system. Banks in the region have also been requested to make use of the programme for opening [new] accounts and giving services to the rural customers,” said Ms. Aprameya.

Fino Pay Tech is also facilitating enrolment of customers to ICICI Bank in the villages.

The street plays will be organised in the villages till this month-end. Based on the success of the pilot programme, NABARD is likely to roll out the initiative across the entire State. Fino Pay Tech has been conducting financial literacy programmes for NABARD for the past four years across Bihar, Uttar Pradesh, West Bengal, Rajasthan, Jharkhand, Madhya Pradesh and Chhattisgarh and has extended the benefit to over 1.5 lakh rural unbanked people.