NEWS & ADVICE : PERSONAL LOAN
Financial inclusion and literacy centre by RBI
By Vaibhav Aggarwal
Nov 26, 2010
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Banking and monetary regulator, Reserve Bank of India has started Financial Inclusion and Financial Literacy Learning Centre in Pune. The center is located at the College of Agricultural Banking.

The center was inaugurated by Governor of RBI, D Subbarao. The centre is the second of its kind in the country, the first one being at Chandigarh.

The apex bank plans to launch the third center in December in Bangalore.

"Through the centre, we will try to include as many people as possible within the folds of financial literacy. So far just about 40 per cent of the people have bank accounts. We are going to request other banks to start financial inclusion and literacy centres," Subbarao said.

He said that the RBI is striving for a process whereby the decisions of the top management is implemented amongst the staff after valuable interaction sessions and review meetings. Speaking on the higher interest rates charged by microfinance institutions, he said that a sub committee has already been set up by RBI to study the matter in detail and come up with recommendations and suggestions.

He said that the committee would be submitting its report by January 2011.

The center, he said, would act as a gallery for public interaction wherein workshops would be organised to reach out to people of all strata and classes.


 


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