RBI inaugurates Financial Literacy Week
   Date :13-Feb-2020

RBI inaugurates Financial
 Suresh V Satpute, GM, FIDD, Dr P S Venkateswaran, GM, Officer-in-Charge, A P Dharmadhikari, Joint Director of Industries, B K Singh, AGM, FIDD and R S Sirola, DGM, Protocol and Security.
 
Business Bureau :
 
RESERVE Bank of India (RBI) has been conducting Financial Literacy Week (FLW) every year since 2016 to propagate financial education messages on a particular theme across the country. FLW 2018 and FLW 2019 were focused on ‘Consumer Protection’ and ‘Farmers’, respectively.
 
The theme selected for current year FLW is ‘Micro, Small and Medium Enterprises (MSMEs),’ which will be observed from February 10 to 14, 2020. The FLW function at Nagpur began with the welcome address by S V Satpute, GM, FIDD wherein he emphasised the importance of financial literacy activities and initiative taken by Reserve Bank for MSME sector. To mark the commencement of Financial Literacy Week, Dr P S Venkateswaran, General Manager, Officer-in-Charge unveiled the posters on the theme: ‘Micro, Small and Medium Enterprises’ during the inaugural function held at RBI, Nagpur. The function was attended by all the senior officials of Reserve Bank, Joint Director Industries, Controlling Heads of various public and private sector banks, SIDBI official and FL Counsellor of Nagpur region. Dr P S Venkateswaran in his key note address focused upon the key messages to be displayed during the FLW viz., creating awareness about aspects relating to formalisation, collateral free loan, discounting of receivables, rehabilitation of stressed units and timely repayment. He also advised the bankers to disseminate the information and create awareness among its customers and public.
 
A P Dharmadhikari, Joint Director of Industries emphasised upon the cluster approach adopted by the Government to bring the unorganised MSME sector under formal environment. He also highlighted the MSME Facilitation Council set up by the Government at the Regional Headquarter level to ensure timely repayment of dues by big corporates to small vendors. A detailed presentation highlighting the four messages to be displayed during the FLW with a special focus on Trade Receivables Discounting System (TReDS) was also made by FIDD, Nagpur team. D Prasad Rao, Manager, SIDBI informed the participants about the various schemes run by SIDBI for the benefit of MSME entrepreneurs. The event was coordinated by S M Chepurwar, AM, and concluded with vote of thanks by B K Singh, AGM, RBI.