Union Budget: With digital literacy,financial literacy should have been clubbed, says AISECT
New Delhi, Mar 2 (IBNS): In response to the allocations for the Banking and Financial Inclusion sectors in Arun Jaitley's Union Budget 2016-17, Abhishek Pandit, Director-Business Services, AISECT, has said that along with digital literacy, financial literacy should also have been clubbed.
“Apart from inheriting low growth from the previous Government, this Government has also inherited several schemes which have benefited the common man. Jandhan Yojana is one such scheme. I am disappointed that there has not been an impetus given to the scheme in this budget. With the focus of farmers income being doubled and bringing in E platform there has to be a clear focus on how this can be channeled through organized banking channels," Pandit said.
"Along with digital literacy, financial literacy should also have been clubbed. We want the citizen to understand the digital space as well as the basic financial space so that they can benefit by streamlining the household expenses and income and increasing the effective saving," said he.
"Focus on Aadhar platform is a good step towards transparency in schemes implemented across the country. All the schemes that have been launched by the Govt. today should be linked to the UID,” pandit added.
AISECT is working as a Business Correspondent for 26 nationalised banks including the State Bank of India and Bank of India. It has so far established over 3000 banking kiosks, opened more than 45 lakh bank accounts which have done transactions worth Rs. 1000 Crores that too in merely 3 states i.e. Madhya Pradesh, Chhattisgarh and Punjab in which it is working as Service Centre Agency for CSC Project.
Recently, the organization has extended its financial inclusion services in more states namely Gujarat, Uttar Pradesh, Haryana, Bihar and Rajasthan. The organisation is also conducting financial literacy programme in the states of Madhya Pradesh and Chhattisgarh for rural adults especially women as per its partnership with CSC SPV and National Bank for Agriculture and Rural Development (NABARD).
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