RBI’s College of Agricultural Banking to conduct an Essay Competition to promote Financial Literacy

The Reserve Bank of India’s Col­lege of Agri­cul­tur­al Bank­ing (CAB), Pune is con­duct­ing an essay com­pe­ti­tion to pro­mote finan­cial lit­er­a­cy. The theme for the Essay Com­pe­ti­tion 2014 is “How to make India a finan­cial­ly lit­er­ate coun­try – Strategies”.

The com­pe­ti­tion is open for par­tic­i­pa­tion for two chan­nels of par­tic­i­pants; viz.: (i) the staff of var­i­ous banks, name­ly, sched­uled com­mer­cial banks, region­al rur­al banks, state coop­er­a­tive banks, Nation­al Bank for Agri­cul­tur­al and Rur­al Devel­op­ment (NABARD), Small Indus­tries Devel­op­ment Bank of India (SIDBI), and the Reserve Bank of India and (ii) stu­dents, aca­d­e­mi­cians, finan­cial lit­er­a­cy coun­sel­lors and gen­er­al public.

The last date for sub­mis­sion of entries is Decem­ber 30, 2014 and the results will be announced on Jan­u­ary 30, 2015.

The prize win­ning par­tic­i­pants under each chan­nel will be giv­en a cer­tifi­cate and Rs. 20,000 for 1st prize, Rs. 15,000 for 2nd prize, Rs. 10,000 for 3rd prize and a Con­so­la­tion prize of Rs. 5,000.

Details of the com­pe­ti­tion are avail­able on the Col­lege web­site at http://cab.org.in

Finan­cial Lit­er­a­cy has emerged as a focus area for pol­i­cy mak­ers in India. Suc­cess in dis­sem­i­na­tion of finan­cial lit­er­a­cy has been iden­ti­fied as the key to meet­ing the crit­i­cal objec­tives of finan­cial inclu­sion and finan­cial sta­bil­i­ty. The Reserve Bank has been spear­head­ing the cause of finan­cial lit­er­a­cy to cre­ate aware­ness, espe­cial­ly among the com­mon per­sons, on mat­ters relat­ing to bank­ing, finance and cen­tral bank­ing. Towards this endeav­our, the Reserve Bank pub­lish­es illus­trat­ed books on bank­ing and func­tions of the Reserve Bank in Eng­lish, Hin­di and oth­er region­al lan­guages; arranges school/college vis­its for cre­at­ing finan­cial aware­ness; par­tic­i­pates in exhibitions/fairs/melas at the Region­al Office lev­el; and con­ducts essay com­pe­ti­tions and quizzes in schools to cre­ate aware­ness about bank­ing and the Reserve Bank. RBIQ — the annu­al all-India Inter-School Quiz launched by the Reserve Bank of India in 2012 — is one more impor­tant effort of the Reserve Bank towards spread­ing aware­ness about finan­cial mat­ters, espe­cial­ly among chil­dren. The finals of the quiz were recent­ly held.