Stronger FLC
Architecture – Board Approved Policies
Banks should
provide the minimum basic infrastructure and strengthen the existing FLC
Eco-system.
1.
Banks
should put in place policies on the modalities for engagement of Financial
Literacy Counsellors in FLCs. Some points to keep in mind are:
a)
The
qualifications and skills in conducting camps
b)
Prior
Experience in banking/related fields
c)
Working
knowledge of computers
d)
Knowledge
of the local language
e)
Maximum
Age
f)
Fixed
Remuneration at market rates with incentives
2.
Physical
Infrastructure: The FLC should have a separate space with a seating capacity of
minimum 10 members.
3.
Basic
amenities like Computers and furniture/fixtures.
4.
Vehicular
support.
5.
Each
FLC should have a dedicated Help line.
6.
Skill
building: RBI will organize workshops in collaboration with CAB, Pune to train
the Counsellors this year. Regional offices of RBI will hold workshops at state
level every year as part of the Financial Literacy Week.
SLBC Convenor
bank should update the database on Financial Literacy Centres through their
SLBC/UTLBC Website
Tailored
Approach to Financial Literacy and conduct of camps
FLCs and rural
branches should identify different target groups at the ground level and
conduct camps for a homogenous audience.
The approach of
FLCs and rural branches of banks for conducting camps will be as follows:
1.
Special
camps for the newly included people in the financial system, including PMJDY
account holders:
They
should be encouraged to make meaningful transactions and start using the
associated benefits of having a bank account. A sample booklet containing the
information has been prepared. Banks may translate the booklet in the local
language and provide to the camp participants.
Target: Minimum one
outdoor camp per month by each FLC and rural branch of banks for an year.
2.
Target
group specific camps for the following segments:
o Farmers
o SHGs
o Micro and Small Entrepreneurs
o Senior citizens
o School children
o Others (may be identified by the FLCs)
Target: One camp per
month for each target group by each FLC and rural branch of banks.
Concerted
Approach & financial support
FLCs should try
to get on board as many stakeholders as possible at the
district/panchayat/village level during the conduct of the camps.
Reporting Mechanism
SLBC/UTLBCs will
submit a report on a quarterly basis to the respective Regional offices of RBI
within 20 days from the end of the quarter.
Apart from what
has been indicated in this circular, FLCs are free to undertake financial
literacy activities as deemed necessary, as per local needs.
Based on RBI Circular dt 14/01/16. Please visit www.rbi.org.in for any further clarification if required….. Poppy
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