The Reserve Bank of India’s Financial Literacy Week 2024 was inaugurated for Nagaland by Paresh Chauhan, General Manager and Officer-in-Charge on Monday, DIPR informed. Since 2016, RBI has been observing one week of each year as Financial Literacy Week to draw attention to the subject of Financial Literacy.
Continuing the focus on students and young adults in its financial literacy outreach, the theme for this year’s Financial Literacy Week, “Make a Right Start: Become Financially Smart” to empower them to take charge of their financial futures. Within the theme, focus of the awareness programmes would be centred around three sub-themes which form crucial aspects of financial decision making and engaging in financial transactions:
‘Saving and Power of Compounding’ – which aims to inculcate the understanding that small, consistent savings or investments can grow significantly over time due to the effect of compounding interest;
‘Banking Essentials for Students’ – which is intended to promote awareness on the facility of opening bank accounts for minors and the provision of collateral free education loans up to Rs. 4 lakhs;
‘Digital and Cyber Hygiene’ – which seeks to emphasise the need for following responsible practices while undertaking digital transactions
As part of the Financial Literacy Week activities, banks have been advised to disseminate information and create awareness among their customers and the public on the above theme by displaying content that has been developed by RBI, on their websites, ATMs, mobile applications, and digital display boards deployed in their branches. RBI will also be undertaking a centralized mass media campaign to broadcast essential financial awareness messages on the chosen theme.
RBI Kohima also has planned several outreach programmes targeting student groups and young adults urging all stakeholders to promote the messages of the Financial Literacy Week 2024 as widely as possible.
The function held at Hotel de Oriental Grand, Kohima was attended by CGM & O-i-C, NABARD, Nagaland RO, DGM, SBI, Jorhat, Regional Manager, CRISIL, Guwahati, Branch Managers of banks in Kohima, principals, teachers and students of Mt. Olive College and Vinyüzo School, Kohima.
