Financial Literacy

Under the guidance and suggestions provided by the Assistant General Manager (AGM) in Karimnagar, we meticulously planned the program's schedule, ensuring adherence to the designated time frame for attending mass meetings on Financial Literacy Awareness Program (FLAP). We focused on creating awareness about FLAP among local institutions, scheduling meetings with bank managers to finalize attendance dates, and coordinating officials' participation in the program with the assistance of local institutions. In our efforts to prepare comprehensive informational materials, such as posters, banners, and pamphlets, regarding financial literacy, we strategically placed these materials in prominent areas within village centers. Additionally, we actively distributed pamphlets to communities residing in villages, ensuring maximum outreach and dissemination of financial information. We organized and arranged for vehicles to facilitate the Pracharardham (propagation tour) in villages, enabling us to effectively collect and engage with people in attendance.

Our planning involved the creation and utilization of Information, Education, and Communication (IEC) materials, including flow charts outlining the process of opening accounts, to aid in providing clear guidance to the community.We meticulously selected resource persons with expertise and experience to effectively convey information about bank schemes, emphasizing the benefits of savings, overdrafts, accidental insurance, and strategies to mitigate farmer suicides. Through community interactions, we identified instances where individuals had ceased utilizing their accounts under the Pradhan Mantri Jan Dhan Yojana (PMJDY) due to a lack of awareness regarding PM-Social Security Schemes such as PMSBY, JJY, APY, and PM F Yojana. To enhance engagement and captivate audiences during mass meetings, we enlisted experienced magicians and dedicated staff members to facilitate awareness campaigns.

We engaged with local and district-level bankers, extending invitations to participate in mass meetings and orientation workshops to foster collaboration and knowledge sharing.We strategically appointed professional Financial Literacy Counselors (FLCs) to spearhead awareness initiatives and engage with communities to foster a deeper understanding of financial literacy. Ahead of our village visits, we ensured proactive communication by informing and alerting local institutions through the utilization of microphones and traditional communication methods such as TOM-TOM, thereby effectively disseminating information. During meetings, we prominently displayed flow charts, posters, and flex banners to visually reinforce key messages and facilitate comprehension among attendees. Leveraging the power of mass communication, we utilized Prachara Radam (propagation vehicle) to effectively communicate the program's message to a wider audience.In collaboration with Banking Correspondent Agents (BCAs) in all villages, we facilitated the collection and submission of account opening applications, streamlining the process for community members to access banking services conveniently.

Out Comes
  1. The Manager of Telangana Grameena Bank attended the meeting and distributed RuPay ATM cards.
  2. All local institutions actively participated and implemented programs in their villages. They were provided with information about cashless transactions, account openings, and account reactivations for the community. Simultaneously, communities showed interest in availing themselves of social security schemes and reactivated their accounts. Through effective arrangements and educational efforts by NGOs, they gained insights into opportunities offered by financial institutions and insurance schemes.
  3. Addressed all gaps and, in collaboration with them, opened 3115 new accounts and reactivated 2517 accounts with deposits ranging from Rs. 50 to Rs. 100.
  4. Shared valuable information, leading to the revival of existing accounts and the opening of new accounts and enrollment in social security schemes by all members of the community.
  5. Under the Pradhan Mantri Suraksha Bima Yojana (PMSBY),2 618 accounts were initiated.