HDFC Bank launches rural Financial Literacy Initiative in Chhattisgarh

Official says these literacy camps will give participants conceptual understanding of financial products and services

HDFC Bank Ltd had launched its rural Financial Literacy Initiative in Chhattisgarh under the aegis of the Reserve Bank of India (RBI) at the village of Jamgaon near here.

Through this initiative, the bank will conduct a series of two literacy camps in each of its rural branches in Chhattisgarh. This is the first programme to be organised by the bank in the state in the presence of Nirmal Chand, General Manager of the RBI and other senior officials of the bank.

In a statement issued here, the company officials said that the bank would extend its Financial Literacy initiative to 22 villages. HDFC Bank now has 37 branches in Chhattisgarh, of which 24 are located in rural or Semi-urban areas.

The officials added that these camps will give participants a conceptual understanding of financial products and services, using material provided by the RBI. HDFC Bank will use the Financial Literacy Guide and posters, as the standard curriculum while conducting these camps.

The material is currently available in Hindi and English, allowing participants to learn the material in the language they are most comfortable with. The Financial Literacy Guide is a comprehensive document that contains a note for trainers, guidelines on how to conduct the camps, and financial literacy material.

The statement added that the guide also contains a Financial Diary to track expenditure and a set of 17 posters. The purpose of this guide is to create financial awareness and educate the common man on a number of topics such as management of money, importance of savings, advantages of saving with banks, other facilities provided by banks and benefits of borrowing from banks.

HDFC Bank has a board mandated objective to bring 10 million families (50 million Indians) into the banking fold.