The aim of banks to make the country financially literate seems to be spreading in every possibel manner. The drive initiated by the government and Reserve Bank of India in union to financially include the whole of India would not be complete in the true sense if people do not have the basic idea as to why do they need to get financially included or why do they need a bank at all.

Giving due consideration to this aspect, the RBI has designed a study material for both schools and colleges which is to be introduced as a part of their course material. The idea is to make people acquainted about banks and their roles and activities at the grass root level.

While announcing this initiative at Ranchi University, RBI Governor, D Subbarao said, "All schools in the country would include a chapter to promote financial deepening whereas colleges have been asked to include some module of finance in certain subjects."

"We give targets for financial inclusion to banks and they open the accounts but the idea is not paperwork but to make it functional, which can be achieved only when the account holder realizes the importance and operational benefits of his or her bank account, for which financial literacy is must," he said.