Financial Literacy Centre

Preamble :

To align with the current financial landscape, the Reserve Bank of India has issued Revised Guidelines for Financial Literacy Centre and Operational Guidelines for conduct of camps (copy enclosed) where the Banks have been advised to put in place board approved policies on the modalities for engagement/recruitment of Financial Literacy Counsellors advising some key points keeping in view of the following:

Subsequent to the financial inclusion efforts by RBI and opening of accounts by banks through the PMJDY, considerable ground has been covered in the field of financial inclusion. Going forward, the focus is going to be on keeping the already opened accounts active. Financial literacy is central to this in the coming years as it enables consumers to understand the benefits of formal products and providers and to make choices that fit their needs and represent good value for money. FLCs and rural branches of banks may adopt a tailored approach for different target groups viz. farmers, micro and small entrepreneurs, school children, SHGs, senior citizens etc. There should also be adequate synchronization at the ground level between the different stakeholders viz. LDM, DDM of NABARD, LDO of RBI, District and Local administration, Block level officials, NGOs, SHGs, BCs, Farmers’ clubs, panchayats, PACS, village level functionaries etc. during the conduct of financial literacy camps. In view of the above, the following Guidelines for FLCs and Operational Guidelines of the Bank for conducting of camps are proposed based on Annexure-I (copy enclosed) of revised guidelines on Financial Literacy Centre of RBI vide Ref. No. FIDD.FLC.BC.No. 18/12.01.018/2015-16 dated January 14, 2016:

Stronger FLC Architecture

Financial Literacy Centres are the building blocks or the basic units that initiate the financial literacy activities at the ground level. Hence the bank will provide the minimum basic infrastructure and strengthen the existing FLC Eco-system.

  • Each Regional Office will nominate one nodal officer for looking after the task of Financial Literacy Centre. The said nodal officer will act as Financial Literacy Counsellor for the entire region and perform all the jobs allocated to them. Financial Literacy Counsellor should organize at least one camp per month for each target group, as stated under point no. 2. Adequate publicity may be given before the conduct of the camps.
  • The Bank may appoint Financial Literacy Counsellors as per the guidelines prescribed by RBI and the remuneration/honorarium will be paid as per RBI guidelines / the commercial rate of the sponsored bank, i.e. Punjab National Bank / as per commercial rate mutually agreed with the Financial Literacy Counsellors, duly approved by ORMC. The modalities for engagement/recruitment of Financial Literacy Counsellors in FLCs are provided below:
Terms & Conditions:
Physical Infrastructure:
Skill building of FL Counsellors:
Tailored Approach to Financial Literacy and conduct of camps:
Concerted Approach & financial support:
For details contact: