This leads me to say how important it is for central banks to be involved in the functioning of the payment and settlement system and to provide settlement finality. The enhancement of payment services is driven by the need to make the best use of innovative information technology and related skills.
The background to this momentous event was the decision taken, during the meeting of the respected Governor with Hon’ble Chief Minister of Karnataka, on May 14, 2009 to launch a pilot programme on Financial Literacy in Karnataka in association with the State Government. The programme envisaged introducing financial literacy in the curriculum of schools and colleges in the State of Karnataka.