Sri Vijaya Puram, June 26: The State Bank of India (SBI) and Rural Self Employment Training Institute (RSETI), Sri Vijaya Puram conducted sessions on importance of Financial Literacy during the Orientation-cum-Assessment of DAY-NRLM Staff and Community Cadres/SHG members being organized by the Directorate of RD, PRIs & ULBs, A&N Administration, Marine Hill, Sri Vijaya Puram today.
The session was conducted in four batches covering various components of Financial Literacy like saving, investing, debt management, and financial planning. The participants were informed about various Government schemes to avail loan facilities for their business and investment policies. Information was also given about Social Security Schemes Products i.e. Pradhan Mantri Jeevan Jyoti Bima Yojana & Pradhan Mantri Suraksha Bima Yojana and Pension Products i.e. Atal Pension Yojana and the procedures for applying for the aforesaid Scheme. The participants were also made aware about cyber frauds and asked to be vigilant about such frauds.
The participants informed about various issues arising during the opening of an account, which was clarified by the SBI Officials. Also, issues faced by SHG Members to avail Bank Linkages/ Credit Linkages and solutions for submission of proper applications to avail loan were addressed. The SBI Officials clarified the doubts regarding claiming of Insurance and Pension amount.
The Director, RSETI also encouraged the participants to motivate the Members of Self-Help Groups formed under DAY-NRLM to come forward and take the benefits of Training provided by RSETI for sustainable livelihoods. It was also informed that many courses are available with RSETI wherein the SHG Members can get enrolled and after obtaining training they will be helped to get bank linkages to start their businesses.
The SBI Officials also ensured that Financial Literacy Camps shall be conducted regularly at Block and Gram Panchayat Levels to have clarity on various financial opportunities for strengthening of institutions of SHGs and their livelihood.