can be identified as possible correspondents while even informal entities like farmers’ clubs, NGOs, cooperatives, Rural Kiosks, socially conscious individuals, etc. can work as the facilitators. All of us at RBI and our Governor, in particular, have appreciated the suggestions and we hope that the banks will use these avenues to accelerate the process of financial inclusion.
While financial education may not immediately be considered a core function of a monetary authority or a supervisor of the banking system, it is actually quite intrinsically linked to our overarching goal and vision. To us, financial education empowers people to manage their resources with prudence, instills the discipline of saving regularly, and safely grow their money.