RBI conducting Financial literacy week from June 4th 2018
- Theme: "Consumer Protection"
- To create awareness among customers of banks
- According to RBI, event will emphasise on awareness about different financial products, services, digital applications and good financial practices
About Financial Literacy week:
- Introduced first in 2016 by RBI
- Awareness on key topics
- NGOs collaborate with banks to make this initiative successful in past two years
- Last year theme is - "Know your Customer"
- Focus of this year is
- Consumer protection messages like Know your liberty
- Consumers will be educated upon safe digital banking practices
- RBI says, in cases of unauthorized electronic banking transactions when informed 3 days, liability of account holder is zero
- RBI says that resolution of such transactions will be responsibility of concerned bank
- Banks should resolve issue as soon as possible within 90 days from the day of receipt of complaint
- Other focus point of financial literacy week includes creating awareness about banking ombudsman scheme of RBI
- Bankers, Financial literacy counsellors and other stake holders will be major participants in the event.
