Jayshree Vyas MD of Ahmadabad headquartered Mahila SEWA (Self Employed Women Association) Cooperative Bank has announced the bank would soon set up financial literacy centers in its many branches on a pilot basis in Ahmadabad and in the outlying areas.
The centers would propagate financial literacy among half a million members of the bank, she said.
Among other things, the centers would enable members to grasp concepts like saving, compounding and various other complex financial matters, the MD claimed. Members would also be given tips on how to plan their children’s education and how to avoid being trapped in debt, she noted.
Sources say now-a-days financial literacy is being considered as pivotal to basic banking and this explains why there is a concerted effort to achieve this goal.
