We have also offered to fund the capital and running costs for five years provided the State Government concerned is willing to make available the premises and put in place appropriate security arrangements. Meghalaya has been the first off the block, and eight centres have been allotted to three public sector banks, following a bidding process.
The Reserve Bank is working with other states in the north-east to institute similar arrangements. Project financial literacy 19. Let me say a few words on the Reserve Bank’s drive for financial literacy. Financial literacy is a stepping-stone toward financial inclusion.