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RBI develops financial literacy curriculum coming in schools

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Almost every state, with the exception of three, have agreed to include a financial literacy programme for school education boards that has been developed by the Reserve Bank of India (RBI) and other authorities.

Anil Kumar Sharma, Executive Director RBI said, “If we could inculcate basic financial literacy in school education, then that would be much better to expand financial literacy in the country.”

He said that the school education boards of all but three states have agreed to incorporate it into their curricula.

Sharma said, “We have developed content in consultation with all the regulators which is being offered for inclusion in state education boards’ curriculum.”

He further said, “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.”

Moreover, he stated that the RBI is examining the entire Business Correspondent (BC) framework because it has not performed as expected.

According to the release, the last-mile connectivity in terms of accessibility, usability, and quality, BCs are the quick solution. But due to a number of circumstances, such as regulatory limitations and operational challenges, they were unable to meet RBI’s expectations.

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