LRLM, CRISIL Foundation holds Financial Literacy Session at Community hall Kharu, Leh

Kharu, 17th Sep: A session on financial literacy awareness was held at Community Hall Kharu Leh, by Ladakh Rural Livelihood Mission (LRLM) in collaboration with CRISIL Foundation Mumbai. The session began in presence of General Manager Reserve Bank of India (RBI) Neraj Kumar, AGM Reserve of India (RBI) Mithesh Sharma, Lead District Manager Leh Tsering Wangmo, DDM NABARD Ladakh Tsewang Dorjee and DPM LRLM Leh Asiya Tabassum.

General Manager RBI Neeraj Kumar commenced the session with a welcome note and shed light on the overall financial inclusion scenario of UT Ladakh. He emphasized on the growing importance of financial literacy, particularly in the context of the rising threats of cybercrime, and underscored the need for individuals to be financially literate to protect themselves in today’s complex financial landscape.

Asiya Tabassum DPM LRLM Leh underscored the significance of financial literacy among SHGs. She discussed the continuous efforts and initiatives undertaken by LRLM to strengthen UTs financial structure in promoting credit linkages and ensuring that financial inclusion reaches all segments of society.

During the session, Zahoor Khan and Kifayat Hussain, Regional Manager and Senior Manager, MoneyWise CFL Project CRISIL Foundation, J&K-Ladakh spoke on several key topics related to financial literacy and financial inclusion.

Zahoor Khan, Regional Manager CFL Project CRISIL Foundation provided an overview of the program, highlighting the importance of various government schemes and the critical need for financial literacy, noting that India’s financial literacy rate is only 27%. He stressed that enhancing financial knowledge is essential for the economic empowerment of individuals, especially for the remote populace of UT Ladakh.

Furthermore, important points were spoken by Amit Singh, Regional Manager CFL Project CRISIL Foundation, Mir Imtiaz, Operation Manager Ladakh CFL Project, Centre Manger CFL Kharu and various officials, including Tsewang Dorjee, DDM NABARD who highlighted the NABARD’s efforts under FIF to reach underserved populations, such as rural youth, self-help groups, and unorganized sectors.

More than 80 people including SHG members, rural women and others attended the session. The session concluded with a vote of thanks by Tsering Wangmo, LDM Leh.