Financial Literacy For Safe Future

The Finanza Finesse Foundation is engaged in spreading financial literacy, along with the teaching material on money management, savings as well as various banking facilities in conformity to RBI guidelines vide RBI Circular No. RPCD.FLC No. 12452/12.0.1.018/2011-12 dated June 06, 2012, at monthly intervals. This awareness enables the common man in rural India, primarily the individuals who are vulnerable to persistent downward financial pressures due to lack of understanding in the matters relating to personal finance to understand the needs and benefits of the products and services offered by the banks. RBI has defined financial literacy as “the ability to know, monitor, and effectively use financial resources to enhance the well-being and economic security of oneself, one’s family, and one’s business.”

It becomes difficult to make out an equal world without empowering women with equal social and economic opportunities. Making women financially literate is one of the most important areas of work for The Finanza Finesse Foundation. Government of India has launched several schemes such as Sukanya Samridhi Yojana, Pradhan Mantri Jan Dhan Yojana (PMJDY) aimed at boosting financial literacy among women, leading to greater financial inclusion in the country. These schemes encourage women to take up personal finance activities such as savings and investments. In the process, the schemes also engage women in activities that allow them to participate in the process of capital formation, either directly or indirectly. The programs also spread awareness of fundamental financial issues that impact their lives, and are designed to address the key components of financial literacy such as benefits of banking, electronic transfer, safe borrowings within limits and timely repayment and income generating techniques.