Financial Literacy Week

Chandigarh, February 10

The Reserve Bank of India (RBI) has organised a Financial Literacy Week to create awareness among the MSMEs community. It began today and will end on February 14.

According to officials, lack of knowledge related to financial products and services, banking procedures and risk-return framework reduces the growth of the MSME sector.

“The week will focus on creating awareness about issues pertaining to formalisation, trade receivables and discounting, collateral-free loans and timely repayment of loans,” said Jyoti Kumar Pandey, Regional Director, Reserve Bank of India.

The RBI has instructed banks to spread information among customers and general public. The RBI will also undertake a mass media campaign to broadcast financial awareness messages.

Posters in regional languages have been given to banks for display in their branches and financial literacy centres. — TNS