SEBI pitches for scaling up NCFE to support Jan Dhan Yojana
The Government of India is quite ambitious about Jan Dhan Yojana and is leaving no stone unturned to make it a big success. In the same light, SEBI has come up with a suggestive measure to scale National Strategy on Financial Education to promote the Jan Dhan Yojana.
It is quite true that if you want to convey the benefits of any scheme to the masses, the one and preferable way of doing it is through educating the masses and this is where NCFE would come into picture in making the demand side respond to the noble initiative.
Government of India has made a lot of efforts in order to prepare the supply side with its deliverables. Now, its turn for institutions like NCFE who move ahead in promoting the awareness and generating turn outs.
Pradhan Mantri Jan Dhan Yojana is a quite a famous Social Welfare Scheme. It was launched by Prime Minister of India, Shri Narendra Modi around August 2014 and the scheme has been doing well so far. As of now, more than fifteen crore saving accounts have been opened under Jan Dhan Yojana.
The approach of Jan Dhan Yojana is to create a financial inclusion model and the scheme is followed by three other social security scheme that are targeted for the weaker sections of society in order to provide them life, accident and health insurance to secure their future.
SEBI would act as the apex body in order to coordinate the whole scheme. The apex body would also take up the matter in order to scale operations with Financial Stability and Development Council.
The scaling of budgetary support to NCFE would be preceded by the new scaling that would be done of NCFE. The responsibility of promoting financial literacy of FSDC lies in the hands of NCFE and this way they would also be responsible for guiding and providing technical help in order to implement the overall scheme.
On the other hand, a number of financial education campaigns and educational material would be started and created by NCFE and would be carried out throughout the country. The benefit of the campaign is that it would increase the overall awareness among the masses and thus help in improving the financial understanding, knowledge and skill of the masses living in far flung areas.
Last but not the least, the NCFE aims to create an empowered India and citizens who are financial aware of their rights and responsibilities. The organization is also creating computer games and other mobile applications to improve children’s participation in financial awareness.