Financial Literacy Centres (FLCS)

Financial Literacy Centres are basic units that initiate the financial literacy activities at the ground level as it enable consumers to understand benefits of formal products and to make choices that fit their needs and represent good value for money.

Based on recent developments on withdrawal of legal tender status of Specified Bank Notes and the focusing on digital payment, Reserve Bank of India in terms of Circular No. FIDD. FLC.BC .No.22 /12.01 .018/2016-17 dated 02.03.2017 has issued revised policy for conducting camps by FLCs and Rural Branches of the Bank w.e.f.  01.04.2017, which is as under:-

I. Financial Literacy Centres (FLCs):- FLCs are advised to conduct two special camps per month for a period of one year beginning April 1, 2017 on “Going digital through UPI and *99# (USSD)”. Two posters, one on UPI and one on *99# have been prepared for the benefit of the trainers and the audience. FLCs are also advised to conduct five camps per month for target specific groups, i.e. one camp each for Farmers, SHGs, Micro and Small Entrepreneurs, Senior citizens and School children.

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.

Audio visuals have been designed for the benefit of general public on topics relating to Financial Literacy. These Audio visuals are on "Basic Financial Literacy", "Unified Payments Interface" and "Going Digital".

II. Rural Braches:- Rural Branches are henceforth also required to conduct one camp per month (on the third Friday of each month after business hours). Camp will cover all the messages that are part of the Financial Awareness Messages (FAME) booklet and two digital platforms UPI and *99# (USSD). In case there are two or more rural branches in a village, the LDM may ensure that the rural branches conduct the camps every month alternatively.

The booklet FAME (Financial Awareness Messages) provides basic financial literacy messages for the information of general public. It contains eleven institution/product neutral financial awareness messages, such as, documents to be submitted while opening a bank account (KYC), importance of budgeting, saving and responsible borrowing, maintaining a good credit score by repaying loans on time, banking at doorstep or at vicinity, knowing how to lodge complaints at the bank and the Banking Ombudsman, usage of electronic remittances, investing money only in registered entities, etc.

Our FLCs Centres & Counsellors:-

PSB Board approved FLC Policy:-