Kerala Gramin Bank drive to impart financial literacy

MALAPPURAM: The Kerala Gramin Bank (KGB) has embarked on a statewide financial literacy drive among school children through its 602 branches. The programme called ‘FI@School’ is a part of the KGB’s efforts to reach out to the children who mostly remain excluded from the projects meant for financial inclusion. “All the branches of the KGB would tie up with schools in their areas to organise various programmes devised to impart financial literacy,” said Shaji K.V., the bank's chairman.

"It comes in line with the Reserve Bank of India’s directions to include financial literacy in the school curriculum. Being Kerala’s second largest public bank, we hope to reach out to more than one lakh children.” Financial literacy clubs will come up in the first phase at all the identified schools. Various competitions and programmes will also be conducted for the children and also provide bank accounts with individual junior debit cards with a lower withdrawal limit, he said.

The bank will also provide financial assistance to these clubs to organise financial literacy events and competitions. The KBG has also launched an educative Android app ‘Little KGB’ to boost the financial literacy drive among them. The app is free and can also be linked with KGB account for few services like balance enquiry. It provides short stories and quizzes from which they get educated on financial matters. The NABARD partly funds the project assisted by international organisations like Amsterdam-based Child & Youth Finance International.