This event was held by India’s post payments Bank, which called it the ‘Niveshak didi’ in the Srinagar of Jammu and Kashmir. It was conducted on Dal lake for the residents of the city.
Niveshak didi held the financial literacy lesson in the local Kashmiri language from shikara- a unique water boat found in Srinagar and other cities of Kashmir. The main motive of this session was raising financial awareness in the local public.
It educated people about various banking and financial products and even informed the people about the importance of joining the mainstream financial services provided by the various regulated entities. It warned the people about various risks related to investment risks and fraud. The main goal is financial inclusion up to the last mile in the tribe.
The ‘Niveshak Didi’ initiative for financial literacy
The ‘Niveshak Didi’ initiative was implemented on the basis of concept of ‘by the women and for the women’ , This concept means that women in the rural regions are far more comfortable sharing their worries and query concerns with women.
This initiative was launched by the IPPB (Indian Post Payments Bank) in collaboration with Investor Education and Protection Fund Authority (IEPFA) which comes under the Union Corporate Affairs ministry.
As a part of this initiative three ‘Niveshak Didi’ representatives from Kashmir valley were even certified during the recent IEPFA conference held in Srinagar.
IPPB
The Indian Post Payments Bank it comes under the Department of post , Ministry of Communication , it is fully owned by the central government. This bank was launched on September 1 , 2018 to become the most accessible , affordable and trusted bank of India. The IPPB was established with an aim to eliminate barriers for the unbanked and the underbanked to ensure last mile connectivity with an efficient network of 160,000 post offices and about 400,000 postal employees. It facilitates paperless, cashless and presence less banking accessible in a secured and simple manner at customer’s doorstep with a CBS enabled smartphone and biometric device.
The IPPB had earlier also run many financial literacy and inclusion programs to resurgent rural India where reach and communication is always a barrier . From the point of inception the postmen,Gramin Dak Sevaks have been reaching out to the masses of every corner of the country offering digital banking services at their doorstep.
This first floating financial literacy camp is indeed a tremendous step towards bridging the gap of financial inclusion and the ability of the Department of posts to reach far and wide in all terrains and geographies. This is a welcome step towards women empowerment as it paved the way for women rural population to increase their comprehension about various products and services, beware of frauds and under the guidance of their own ‘Niveshak Didi’ in their own language.
