India’s central bank Reserve Bank of India has launched the Financial Literacy Week for 2021. The literacy week started from 8th February and it will conclude on 12th February 2021.
Financial Literacy Week 2021
- For 2021, the Financial Literacy week will focus on ‘Developing the credit discipline and encouraging availing of the credit from the formal financial institutions as it is required’.
- During the week, similar activities will be conducted all across the country.
- Some special financial literacy programs will also be organized by all the banks and financial literacy centres on the selected subjects.
- In 2021, RBI is organising the week to spread awareness regarding the credit facilities which are provided by the bank. This topic was chosen by the bank because credit score is an important issue of the banking sector.
- Through this programme, the banks will spread awareness about various types of credit or loan facilities including the home loan, business loan, vehicle loan and Kisan Credit Card etc.
About Financial Literacy Week
- The financial literacy week (FLW) is organised by the central bank since 2016.
- This event is organised by the RBI to spread awareness in the people on different issues with respect to the banking services.
- By 2020, the Financial Literacy Week focussed on the ‘Micro, Small and Medium Enterprises’.
- By 2020, the event was organised to raise awareness among the people about the formalisation, discounting of receivables,rehabilitation of stressed units, collateral free loan, and timely repayment of the loan. It also organised a month-long centralized mass media campaign.
- By 2019, it focused on Farmers’ while in 2018 it focussed on ‘Consumer Protection’.
Bank of India
During the Financial Literacy Week-2021, the Bank of India will be organising 75 campaigns . It will be organised in 15 districts of Jharkhand.