In this respect, it has been increasingly recognised that a central bank that focuses on inflation forecasts at around two-year horizons would not be able to appropriately take into account the formation of financial imbalances, as they generally exert effects on price developments at longer horizons.
Banks have been advised to setup Financial Literacy Centres (FLCs) in the 630 plus offices of the lead district managers (LDMs).These offer face to face money advice Further we have mandated the 35,000 plus rural branches of SCBs including RRBs to undertake outdoor financial literacy activities at least once a month with focus on financially excluded population.