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RBI/2017-18/23
FIDD.FLC.BC.No.11/12.01.018/2017-18
July
13, 2017
To Chairman/MD & CEO
Scheduled Commercial Banks
(Including RRBs & Small Finance Banks)
Dear Sir/Madam,
Financial Literacy by FLCs
(Financial Literacy Centres) and rural branches - Revision in funding
limits, Audio-visual content and provision of hand held projectors
Please refer to our circular
FIDD.FLC.BC.No.22/12.01.018/2016-17 dated March 2, 2017 on policy
review of guidelines for FLCs and rural branches of banks. In terms of this
circular, banks were advised that FLCs and rural branches are eligible for
funding support from the Financial Inclusion Fund for the financial
literacy camps to the extent of 60% of the expenditure of the camp subject
to a maximum of ? 15,000/- per camp.
2. On a review, the FIF Advisory
Board has revised the funding support available to banks to the extent of
60% of the expenditure of the camp subject to a maximum of ? 5,000/- per
camp. For details on funding, banks may refer to circular No. 107/DFIBT-24/2017
dated May 4, 2017 issued by NABARD.
3. Audio visual content and
provision of handheld projectors: In
order to improve the effectiveness of the financial literacy camps, it has
been decided to encourage FLCs and rural branches of banks to use hand held
projectors to show Audio-visuals and posters on financial awareness
messages. Funding for handheld projectors and speakers would be provided
from FIF to the extent of 50% of the cost incurred on purchase of hand held
projector and portable speaker (both put together) subject to a maximum of ?
5000 per rural branch / FLC on a reimbursement basis. For details on
funding, banks may refer to circular No. 105/DFIBT-22/2017 dated May 4,
2017 issued by NABARD.
4. Further, the National Centre
for Financial Education (NCFE) supported by the financial sector regulators has
prepared audio visuals on the Financial Awareness Messages
provided by RBI. The First Audio-visual covers the basic
financial awareness messages such as address proof declaration under KYC
norms, Use of Business correspondents, Electronic payment systems NEFT/RTGS
and not falling prey to fictitious emails/calls and Ponzi schemes. The Second
Audio-visualexplains the process of using the Unified Payment Interface
through BHIM and the third audio visual explains the various ways
of going digital and cashless. FLCs and rural branches of banks are advised
to use the audiovisuals while conducting financial literacy camps.
Yours faithfully,
(Uma Shankar)
Chief General Manager-in-Charge
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