Financial Literacy Week launched in Guwahati

To further financial literacy and thereby create awareness on key financial topics, the Reserve Bank of India is observing Financial Literacy Week from today, RBI Guwahati Regional Director B K Mishra said.

The Week with 'Consumer Protection' as the theme is for creating awareness among the consumers of financial services about their rights, responsibilities, good practices and resolution mechanism in a fast changing digital financial landscape, Mishra said launching the programme here.

The RBI has been earmarking a week in a year as the Financial Literacy Week since 2016, he said.

At the micro level, financial literacy helps households utilise scarce resources effectively, choose the appropriate financial products commensurate to their needs and circumstances, the senior RBI official said.

The triad of financial literacy, financial inclusion and consumer protection are vital pillars for meeting the objective of financial stability, he added.

The activities during the week will involve display of financial literacy material in bank branches, ATMs and bank websites and conduct of financial literacy camps through the Financial Literacy Centres of banks.

Banks have set up financial literacy centres (FLCs) to focus their financial awareness efforts and the rural branches of banks also conduct programmes to create awareness, he said.