http://www.financialexpress.com/news/financial-literacy-essential-for-getting-financial-inclusion-usha-thorat/197887/
To provide and pioneer financial literacy program to the micro customers across the nation and be a liaising body of all such organizations in serving towards financial upliftment of economically backward communities in India
Sunday, December 26, 2010
Financial literacy essential for getting financial inclusion: Usha Thorat
Financial empowerment is not only about financial inclusion but it also means financial literacy. The deputy governor of Reserve Bank of India, Usha Thorat said on Friday that spreading financial literacy among the rural masses is the need of the hour. There lies huge potential in the rural parts of the country, but then it needs to be tapped, she added. “We have got 45,000 rural branches out of which 15,000 are in rural regional and public sector bankings are trying to increase their bases in the rural areas in collaboration with rural and rural regional banks, still a lot more was required on the front,”
http://www.financialexpress.com/news/financial-literacy-essential-for-getting-financial-inclusion-usha-thorat/197887/
http://www.financialexpress.com/news/financial-literacy-essential-for-getting-financial-inclusion-usha-thorat/197887/
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Financial literacy stimulates the demand side - making people aware of what they can and should demand. Financial inclusion acts from the supply side - providing in the financial market what people demand. While we have traditionally focused more on addressing financial exclusion through many supply-side measures so as to help “connect people” with the banking system, we have come to recognize the demand side imperative also - that financial literacy and education should be developed hand in hand with improving access to financial services.
ReplyDeleteDr. D. Subbarao, Governor, Reserve Bank of India