RBI, State mull project on financial literacy

The programme, he said, will involve introduction of financial and related material in the curriculum of its schools for the academic year 2009-2010.
However, Minister for Primary and Secondary Education Vishweshwar Hegde Kageri told Deccan Herald that the Government is aware of the proposal but it has not been formally made yet. Having already met the Chief Minister B S Yeddyurappa earlier this month, the RBI said it will hold the first meeting with the concerned authorities on June 1. “If the plan is approved, chapters on central banking, banking and finance, budgeting, savings, debt management, et al will be introduced in the first stage,” the bank said.
He added that the proposed curriculum will be for classes eight and ninth and it has invited both the NCERT and CERT besides the SSLC.  Meanwhile, RBI also announced that the draft report of on (LBS) Lead Bank Scheme–financial inclusion submitted by a high level commitee headed by RBI Deputy Governor Usha Thorat, has been uploaded on the RBI website for public opinion and suggestions can be made until June 20.
The report states that the Lead Bank Scheme is useful and needs to continue, and the State governments must help the RBI to enable the expansion of the banking facilities.
Further, it says that the scope of the scheme must be broadended to cover initiatives for the financial inclusion, role of the state governments, financial literacy and credit counselling as also credit plus services.