Monitor News Bureau
Srinagar :CFL Centres was on Wednesday inaugurated by Programme Manager NRLM Pulwama and Tral in Newa and Dadsara Panchayats of Pulwama.
The aim of these centers is to aware the people regarding all the bank schemes, insurance policies and pensions and ensure the people to provide them full support.
CFL centers will also guide the people about frauds, it also will aware the people about the bank accounts why they are necessary and will reach out to all the villages for the awareness.
The importance of financial literacy and inclusion for the conduct of central bank policies financial literacy encompasses the population’s knowledge about financial concepts, inflation and investment risk, financial numeracy, the ability to make informed judgements and to take effective decisions regarding the use and management of money, as well as its awareness of financial products and services
Monetary authorities have often a formal or informal mandate to promote financial education and literacy as well as consumer protection. That, in itself, is a key element for promoting financial inclusion in a sustainable way and, in turn, making monetary policy tools can become more effective.
This will pave the way for a new and exciting partnership between the Reserve Bank of India, the Sponsor Banks in the state (State Bank of India, J&K Bank) and CRISIL Foundation with focus on creating sustained financial awareness at the block level. Our common ambition is that these centres will strengthen the ongoing financial inclusion drive carried out by the Government, banking and other institutions; and facilitate easier access to formal financial products and services.
