Page 51 - Banking Finance July 2023

ARTICLE

common man through outreach programmes, financial that the connect with common person is immediate and
literacy initiatives, space in mass media and social media all encompassing.
platforms and so on. Reserve Bank of India also
empowers members of public by informing about Reserve Bank of India (RBI) has been conducting Financial
facilities and services to expect from banks and financial Literacy Week (FLW) every year since 2016 to propagate
institutions through 'Public awareness campaign' which financial education messages on relevant themes.
aims to educate the members of public regarding their
rights and responsibilities in banking related matters. The theme for the current year is to be observed from 13th
The campaigns are done on a regular basis in to 17th February 2023 is "GOOD FINANCIAL BEHAVIOUR,
Newspaper, Television, Radio, Cinema, Digital channels, YOUR SAVIOUR", with emphasis on "Saving, planning, and
SMS and hoardings, under the tagline 'RBI Kehta Hai'.
budgeting and Prudent use of digital financial services"
For the video spots, at present, some cricketers and which aligns with overall strategic objectives of the National
badminton players who are employees of Reserve Bank Strategy for Financial Education, 2020-2025.
of India have been roped in. The stories in these video
spots work at many levels. Apart from the main Banks have been advised to disseminate information and
message, the story line also builds an immediate create awareness among their customers and the public on
emotional connect with the audience and the the above theme by displaying posters that have been
conversational script helps keep human interest alive developed by RBI on their websites, ATMs, mobile
in a dry subject like nitty gritty of a bank account. applications, and digital display boards deployed in their
branches.
The public awareness campaign of the Reserve Bank of
India started in 2017. Advertisements on Basic Savings
In order to provide this, Banks has to establish Financial
Bank Deposit Account (BSBDA), Safe Digital Banking,
Literacy and Credit Counselling Centres (FLCCs) on its own
Limited Liability and Ease of Banking for Senior Citizens
in their lead areas/other areas as per the requirement of
were released in popular events such as the Indian
Premier League (IPL), FIFA World Cup, Asian Games, local Government / State Level Bankers Committee / Block
Kaun Banega Crorepati (KBC), Pro Kabbadi League and Level Bankers Committee or may associate with other Banks
Pro Badminton League. in non-lead areas for establishing a Trust to promote
financial literacy.
A film on BSBDA explains how opening of this account
1. Bank's Financial Literacy Centres (FLCCs) provide free
obviates the requirement of minimum balance. A film
financial literacy / education, credit counselling services
on Safe Digital Banking cautions the public about
and create awareness among the public regarding their
sharing card and PIN details while carrying out digital
rights and responsibilities in banking services.
transactions. Another film on Limited Liability explains
the recourse available in the event of card fraud. A film 2. Bank will strive to educate people in rural and urban
on 'Ease of Banking for Senior Citizens' elucidates areas with regard to various financial products &
facilities like doorstep banking available for senior services available from the Bank, such as organizing
citizens. These films, using cricketers and badminton group meetings, Gram Sabha, Participation in publicity
players, who are employees of the Reserve Bank of campaign such as Pradhan Mantri Jan Dhan Yojana,
India, were widely disseminated in media Pradhan Mantri Mudra Yojana (PMMY), Pradhan Mantri
advertisements. Jeevan Jyoti Bhima, Pradhan Mantri Suraksha Bhima
A unique feature of the public awareness campaign is Yojana, Atal Pension Yojana and PMJDYOD, distribution/
the missed call element: upon giving a missed call to display of publicity materials on Financial Inclusion such
the number 14440, the caller will receive information as Posters, Pamphlets, Organizing skits, Magic shows,
through a pre-recorded Interactive Voice Response Debates, Essay writing competition, Quiz for school
System (IVRS), avoiding the miscommunication or over- children in village. It will also conduct training and
communication of a call centre approach. In the non- capacity building programs of Business Correspondents
Hindi speaking regions, mobile phone subscribers to enable them to pass the certification course of Indian
receive messages in English and regional languages, so Institute of Banking and Finance.

46 | 2023 | JULY | BANKING FINANCE