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Moving towards full financial inclusion

The President of India, Shri Pranab Mukherjee inaugurated today (December 11, 2014) a Financial Literacy Centre and a Financial Library at Dr. Rajendra Prasad Sarvodaya Vidyalaya in the Presidents Estate. A Financial Awareness Festival was also held in which students of Dr. Rajendra Prasad Sarvodaya Vidyalaya as well as residents of the Presidents Estate were trained in financial literacy using a model bank branch of the State Bank of India. NPCI through RuPay Cards gave Rs. 25/- credit to each student to buy books, educating them thereby about card transactions. Financial games, quizzes and other activities were also organized for students, children and parents.

The Rashtrapati Bhavan launched a campaign for turning the Presidents Estate into a financially inclusive township (FIT) on September 27, 2014.

The campaign included:-

A financial literacy programme.

Enrolling all residents in UIDAIs Aadhar scheme.

Opening of Saving Bank Accounts for the unbanked under the Pradhanmantri Jan Dhan Yojana.

Enrolment of people in Swavalamban, – a special scheme of the Pension Fund Regulatory and Development Authority for those belonging to the unorganized sector.

Issue of RuPay Cards to new as well as existing account holders of the United Bank of India within the Estate.

To develop a comprehensive strategy, an action plan was developed in association with representatives of United Bank of India, State Bank of India, National Payment Corporation of India,Pension Fund Regulatory and Development Authority, UIDAI etc. Financial literacy-cum-inclusion camps for residents of the Estate were organized on September 27-28, 2014 and December 7-9, 2014to enrol residents of the Presidents Estate in various schemes.Special attention was given to senior citizens, women, special children, domestic help and contractual workers.

Subsequent to the camp held in September 2014, the United Bank of India carried out a comprehensive survey through door-to-door mapping to ensure that there are no households left without any bank account. Domestic help and contractual workers not covered under any health scheme were also provided benefits under the Delhi Governments Arogya Yojana.

The pilot project to make Presidents Estate an FIT has been undertaken to establish a model of convergence in government programmes and services and ensure that benefits of various schemes accrue to all residents of the Presidents Estate, who number around 5000 persons.

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