financial-literacy camps/kalajathara

Financial Literacy Awareness Camps (FLACs)

FLACs were divided in TWO categories

• Digital Financial Literacy Awareness Programmes (DFLAPs) – Going Digital Camps and
• Target Specific Groups (TSPs) which are sub-divided into
  • Self Help Groups (SHGs)
  • Senior Citizens
  • Farmers
  • School Children
  • MSMEs and
  • Others

The expected deliverables by the conduct of the above programmes are as under

Bank engaged with 'AWARD', NGO, Martur and conducted 416 Financial Literacy Awareness Camps (FLACs) through Kalajatha Team.

The NGO is performing the FLACs through Folk songs, Skits, Magic shows, Burra Kadhas,Puppet shows, etc.,.

Out of the 416 Financial Literacy Awareness Camps (FLACs), 63 are Special Camps on ‘Going Digital’ and 353 are ‘Target Specific Group camps through rural branches.

NABARD has sanctioned Rs.24.96 lakh as grant assistance under Financial Inclusion Fund (FIF) to conduct these 416 FLACs during 2020-21.

Bank has also successfully conducted 33 Street Plays (NUKKAD NATAK) in Banks operational area viz., Guntur, East Godavari and West Godavari districts during the period of 12.03.2021 to 25.03.2021 under the support of NABARD FIF.

Impact Study on FLCs by NABCONS

As per empowered committee recommendations our Bank has entrusted the task of study ‘Impact evolution of programmes of financial literacy centers of CGGB’ to NABCONS. The NABCONS team conducted extensive field survey/study in the first quarter of 2018-19 and submitted comprehensive report on 16-12-2018. The notable findings are as under.

• The personnel heading the FLCs are passionate in promoting the financial literacy mong the villagers and accordingly the performance monitoring, down the line form Head Office level is very effective.
• The FLCs are serving for a noble social cause of imparting literacy to the needy. The FLCs have created visible impact in the villages, in educating the villagers and are taking lead role in popularizing Government Schemes on Financial Inclusion, viz. PMJDY, PMJBY, APY etc., Therefore the existing FLCs should be continued and where ever feasible, additional FLCs may be sanctioned.
• Business Correspondents are taking lead role in all the villages, to facilitate day to day banking transactions in the villages, which has resulted in mitigating the hardships faced by villager, in visiting far off branches.
• Business Correspondents are to be considered to be the most preferred resource person by the villages, to consult their financial matters and joining in financial schemes. While no professional trainers are appointed in the villages, to impart financial knowledge, Business Correspondents are proved to be the impact creators in the villages in enhancing financial literacy among villager, in view of their local standing and mingling nature.

The details of the Financial Literacy & Credit counselling Centres is as under-