Towards financial literacy and inclusion

CRISIL Foundation  launches 4th MoneyWise Center

 

Kohima, November 6 (MExN): CRISIL foundation has launched its 4th MoneyWise Center for Financial Literacy (CFL) at Chiephobozou Town under Kohima district, Nagaland.

The opening remark was given by Asato Sachü, Centre Manager CFL Chiephobozou while Pastor Pavi Pao, Christian Revival Church, Chiephobozou town, invoked blessings and launched the CFL Chiephobozou office in the presence of the Chiephobozou Town Council members.

Hriipuni Alpha Pau, Coordinator, State level Bankers Committee, Nagaland gave a brief speech on the pilot project implemented in 2017 in other states of India by RBI as well as a brief on MoneyWise Center for Financial Literacy (CFL)and stressed about the importance of financial literacy and financial inclusion in a state like Nagaland. 

The programme was followed by a brief introduction on RBI ‘MoneyWise Centers for Financial Literacy’ project and the purpose and importance of setting up of CFL by L Wopanthung Kikon, Area Manager (Nagaland), CRISIL Foundation and Abhishek Mazumder, Regional Manager (Northeast Zone II), CRISIL Foundation.

CRISIL Foundation, the corporate social responsibility (CSR) arm of CRISIL Ltd, has soft launched its 4th ‘MoneyWise Centers for Financial Literacy’ in Nagaland among the 12 Centers which is to be implemented in 6 districts of Nagaland. CRISIL Foundation was set up in March 2013 as a Public Charitable Trust with the focus on strengthening the financial capabilities of society and economically underprivileged community and on conservation of environment. 

CFL center, set up under the Reserve Bank of India’s (RBI’s) project is to drive financial literacy and inclusion, to raise financial awareness, promote good financial practices, and drive sustainable change in behavior, ultimately resulting in informed financial choices and greater sense of control over one’s finances.

Community oriented project, CFL pilot project was first conceptualized by RBI in 2017 and in collaboration with CRISIL Foundation implemented the project in the state of Rajasthan, Maharashtra and Haryana which is funded by RBI and sponsor bank such as State Bank of India, Canara Bank, Bank of India, Punjab National bank, NABARD (FIF), etc., The CFL project of Nagaland is funded by RBI from Depositor Education and Awareness Fund (DEAF) and implemented by CRISIL Foundation with State Bank of India (SBI) as its sponsored bank.

 



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