Reserve Bank of India, in its Annual Policy Statement for the year 2005-06, while recognizing the concerns in regard to the banking practices that tend to exclude rather than attract vast sections of population, urged banks to review their existing practices to align them with the objective of financial inclusion. Since then, a series of measures have been taken by the banking system to extend financial services to the poor and the under-privileged sections of the society.

One of the major hindrances in the way of delivery of financial services to the poor is the lack of basic knowledge and lack of awareness of the products and services available. It is in this context that financial literacy and financial education assume significance. The Reserve Bank has, in fact, undertaken a ‘Project Financial Literacy’ with the objective of disseminating information regarding its functions as well as regarding general banking concepts.

In view of the need to collate and document the various initiatives and successful experiments in the area of financial inclusion and financial literacy on an ongoing basis, the ‘Financial Inclusion and Financial Literacy Cell’ has been established at the College of Agricultural Banking which would act as a resource centre in this field. The activities of the Cell include: