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Financial Literacy Week 2021 : RBI

Financial Literacy Week 2021:

The Reserve Bank of India (RBI) has launched the Financial Literacy Week (FLW) for the year 2021. The literacy week started from February 8 and will conclude on February 12, 2021.

Financial Literacy Week (FLW)-2021

  • This year, the Financial Literacy week will focus on ‘Developing the credit discipline and encouraging availing of the credit from the formal financial institutions as it is required’.
  • During the week, similar activities will be conducted all across the country.
  • Some special financial literacy programs will also be organized by all the banks and financial literacy centers on the selected subjects.
  • In the year 2021, this year the bank is organizing the week to spread awareness regarding the credit facilities which are provided by the bank.
  • This topic was chosen by the bank because credit score is an important issue of the banking sector.
  • Through this program, the banks will spread awareness about various types of credit or loan facilities including home loan, business loans, vehicle loans and Kisan Credit Card, etc.

About FLW:

  • The financial literacy week is organized by the central bank since 2016.
  • This event is organized by the bank to spread awareness among the people on different issues with respect to banking services.
  • In the year 2020, the FLW focussed on the ‘Micro, Small and Medium Enterprises’.
  • In the year 2020, the event was organized to raise awareness among the people about the formalization, discounting of receivables, rehabilitation of stressed units, collateral-free loans, and timely repayment of the loan. It also organized a month-long centralized mass media campaign.
  • In the year 2019, it focused on Farmers’ while in the year 2018 it focussed on ‘Consumer Protection’.

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