An executive said on Monday that the RBI, along with other regulators, has developed a financial literacy programme for school education boards, and that all states, with the exception of three, have accepted to include it in their syllabuses.
“If we could inculcate basic financial literacy in school education, then that would be much better to expand financial literacy in the country,” Anil Kumar Sharma, Executive Director RBI said here.
“We have developed a content in consultation with all the regulators which is being offered for inclusion in state education boards’ curriculum.
“And as and when the curriculum is going for revision, the school boards will include it. So going forward, we will have this curriculum especially for classes 6-10,” Sharma said here while speaking at Sa-Dhan National Conference on Financial Inclusion 2022.
Furthermore, he stated that the RBI is in the process of examining the entire Business Correspondent (BC) framework because it has not delivered as expected. In regards to access, usage, and quality, BCs are the short answer to last-mile connectivity for financial education.
However, due to a variety of factors, including regulatory constraints and operational impediments, they were unable to deliver as the RBI had anticipated, he said.
“We are in the process to review this entire BC framework, the role of corporate BCs, the services which they offer, what are the issues with them and the low level of women participation etc.
“These are the issues which we are engaged with (right now) and we will come up with comprehensive set of regulations on how to revamp this particular framework, this can help us achieve what we intend to achieve,” said the official.