NEWS & ADVICE : PERSONAL LOAN
RBI moves ahead to spread awareness against currency frauds.
By Vaibhav Aggarwal
Feb 24, 2010
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In a move to carry forward its objective of financial inclusion in all parts of India especially the unbanked areas, the RBI is provoking the people to open bank accounts and avail ATM facility.

At an event organized for the same purpose, the rural people were taught how to identify fake currency notes and thus save themselves from fraudulous activities of unscrupulous entities.

As a token of celebration of Platinum Jubilee of its operations, RBI has taken up this initiative of making the common man aware of the existence of the Central bank, its importance to a commoner and its functions.

Ranikhera, a village in the outskirts of New Delhi was chosen as location for the event. The occasion was marked by establishment of a biometric ATM by Punjab National Bank in coordination with RBI. The ATM would serve four villages and around 3,00,000 people.

Speaking on this occasion, RBI Executive Director H R Khan explained the role of business correspondents in achieving greater financial inclusion and also the benefits of having a bank account.

Business correspondents are NBFCs, Non Governmental Organizations (NGOs), Micro Finance Institutions (MFIs) and other organizations of the kind which act under the vigil of banks and thereby finance the rural community.

 


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