RBI’s financial literacy week commences

Financial literacy empowers individuals and households to manage their money effectively, plan for their future, and make informed and responsible financial decisions that lead to financial well-being and makes them aware of their rights as consumers of financial products and services

The Reserve Bank of India on Monday launched financial literacy week (FLW) here on a specific theme targeted at particular segments of the population.

During the course of the week the Reserve Bank, in collaboration with banks and other stakeholders will organise awareness programs and outreach activities across the country. (iStock)

“FLW, which is being observed from February 24 to 28, marks the 10th edition of this initiative. The objective is to spread awareness among people about key financial topics through focused campaigns,” said an official spokesperson.

Financial literacy empowers individuals and households to manage their money effectively, plan for their future, and make informed and responsible financial decisions that lead to financial well-being and makes them aware of their rights as consumers of financial products and services.

“As the financial landscape evolves rapidly, the need for financial literacy and understanding the risks and rewards associated with making financial decisions, has never been more crucial,” he said.

Chandeshekhar Azad, regional director, RBI, UTs of J&K and Ladakh and Shantmanu, additional chief secretary, J&K government, Sudhir Gupta, executive director, J&K Bank; Neeraj Kumar, general manager, RBI, Jammu; Vikas Mittal, GM, NABARD, Jammu and Anil Kumar Sharma, DGM, PNB were among prominent guests, who attended the inaugural ceremony. This year the theme is “Financial Literacy: Women’s Prosperity”.

“The intent is to prioritise financial literacy for women considering their multifaceted role in society. The campaign will cover topics such as risk diversification, responsible borrowing, maintaining a good credit score and household budgeting and will have special focus on homemakers, working women and women entrepreneurs,” said the spokesperson.

During the course of the week the Reserve Bank, in collaboration with banks and other stakeholders will organise awareness programs and outreach activities across the country. These initiatives will also be sustained during the year to ensure a lasting impact.