RBI launches financial literacy camps in Northeast

Kohima, Feb 22 : Concerned at the slow progress of financial institutions in the northeast, the Reserve Bank of India (RBI) recently launched the second phase of financial outreach programme in the region.

Located in the hilly Nagaland-Assam border area is the Changi village. Though people are educated here, awareness about banking institutions is limited.

The Reserve Bank of India tried to reach out to these remote areas to impart financial education to the villagers. Its financial outreach camp, being held in Mokokchung District, is the third such programme in the state after the ones held in Kohima and Dimapur in 2009 and 2011 respectively.

"Organizing such camps at the village will be helpful to the villagers and I have also talked to them so they are happy," said Longkumar, a village elder and general manager NABARD.

Anaro, a villager said they will benefit from such programs.

The executive director of RBI, V S Das along with other senior officials interacted with villagers to educate them about modern banking techniques.

A large number of people gathered at the counseling camp to avail banking facilities and learn more about financial services.

Nationalised banks have promised to provide mobile banking services in remote villages and allotment of Kisan Credit Card to farmers.

"Now we can deposit our earnings in the bank instead of keeping it in our pockets. The savings we make can be utilized for developmental purposes. We are really thankful to the Government of India, particularly the RBI for extending modern banking facilities to remote areas," said Wati Ao, another villager.

The Reserve Bank of India has organized outreach camps that focus on the importance of financial literacy for financial inclusion in 218 villages across the country so far. It's an attempt to make banking facilities available to every adult citizen and bring them under the fold of mainstream banking.