Depositor Education and Awareness Programme

Empowering Informed Choices in the Financial World
HERDS, with the support of the Reserve Bank of India (RBI), Bombay, organized a Depositor Education and Awareness Programme as a pilot initiative in the Mydukur Constituency, Andhra Pradesh. This programme aimed to create awareness among rural communities about responsible financial habits, the importance of savings, and the benefits of safe banking practices.

Program Highlights

Targeted Villages

The programme covered key villages, including Rajupalem, Somapuramu, Duvvur, and Proddatur, reaching a broad spectrum of rural participants. The focus was on creating financial literacy and empowering individuals to make informed financial decisions.

Topics Covered in the Awareness Sessions

Importance of Savings and Deposits: Encouraging the habit of savings and the use of safe deposit schemes offered by banks.
Safe Banking Practices: Educating participants about fraud prevention, secure transactions, and the risks associated with informal savings.
Depositor Rights and Banking Services: Informing villagers about their rights as depositors and how to access banking facilities effectively.
Role of RBI in Protecting Depositors: Highlighting the significance of regulated banking systems and RBI’s efforts to protect depositors’ interests.

Community Engagement and Outreach

The sessions were interactive, ensuring that participants understood the importance of secure financial practices. Local community leaders and village representatives were actively involved to ensure the programme’s success and sustainability.

Category :

Awareness

Supported by :

Reserve Bank of India

Location:

Mydukur Constituency

Impact and Outcomes

The Digital Financial Literacy Programme successfully:

Reached

Reached hundreds of villagers across Mydukur Constituency, promoting financial awareness and inclusion.

Empowered

Equipped participants with the knowledge to protect their savings and make use of formal banking services.

Encouraging Villagers

Strengthened trust in the regulated banking system, encouraging villagers to participate in secure financial activities.