The Reserve Bank of India (RBI) is to launch a financial literacy drive in 80 blocks in nine states on the pilot basis to educate people on e-transactions, formal sector borrowings and insurance purchases. What is the aim of this drive?

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	To inculcate the habit of making a household budget and recording financial transactions
B	Encourage transactions in savings accounts
C	Active saving by depositing in banks through fixed deposits and recurring deposits
D	All of the above is the aim of this drive

Explanation:

Detailed explanation-1: -RBI has selected “Go Digital, Go Secure” as the theme for Financial Literacy Week 2022. This theme is one of the strategic objectives of the National Strategy for Financial Education 2020-2025.

Detailed explanation-2: -The RBI runs the ‘RBI Kehta Hai’ campaign to educate and empower the public about banking regulations, and also to make them aware of good and safe banking practices. It was a multi-media multi-lingual campaign using SMSes, print, television channels, radio, hoardings, websites and social media.

Detailed explanation-3: -The RBI has developed tailored financial literacy content for five target groups’ viz. Farmers, Small entrepreneurs, School children, Self Help Groups and Senior Citizens that can be used by the trainers in financial literacy programmes.

Detailed explanation-4: -RBI, SEBI, IRDAI and PFRDA). Financial literacy supports the pursuit of financial inclusion by empowering the customers to make informed choices leading to their financial well-being.

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