FINANCIAL LITERACY PROGRAM AT INDIAN INSTITUTE OF MASS COMMUNICATION , DHENKANAL ON 6TH SEPTEMBER 2018

AFLC conducted a Workshop on Financial Literacy in Indian Institute of Mass Communication, Dhenkanal on 6 September 2018. At the outset, Prof (Dr) Mrinal Chatterjee , Head of the Institute welcomed the guests and emphasised the supreme importance of financial literacy in our society.

Shri D.Mishra, briefly explained the objectives and activities of AFLC and how it is committed to bring transformation in the society . He gave an outline of the financial canvass, banking structure, deposit insurance, regulation of banks in India. Saving should be done in banks and regulated entities.He touched upon credit culture, significance good credit scores and explained the Education Loan.

Shri Siladitya Choudhury, former General Manager , RBI briefly explained the functions of RBI and the monetary policy , instruments of monetary control, (Repo Rate , Reverse Rate Rate, CRR, SLR etc.). He explained Rule of 72 , concept of real rate of interest and applicability.

Shri G.C. Bisoi , Manager, Office of Banking Ombudsman , RBI, Bhubaneswar explained the Digital Banking, net banking NEFT, RTGS and cyber risk. He explained the grievance redressal system with the banks and role of Banking Ombudsman in dealing with Complaints in banking system.

A Financial Quiz was conducted by Siladitya Choudhury. Prizes were given to 10 successful participants.
In all, 60 students and office staff participated in the workshop.