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Microfinance Awareness Program Held at District HQ with Collector Rajarshi Shah as Chief Guest
Microfinance Awareness Program Held at District HQ with Collector Rajarshi Shah as Chief Guest
District Headquarters, Friday:
In an impactful initiative to strengthen financial literacy and promote inclusive growth, the Reserve Bank of India (RBI) organized a Microfinance Awareness Program at the district headquarters this Friday. The event saw the active participation of various stakeholders from the financial sector, government departments, and the general public. District Collector Rajarshi Shah presided as the chief guest and emphasized the critical role of microfinance in empowering the economically weaker sections of society.
The awareness program was conducted under the aegis of the RBI’s Financial Literacy and Credit Counseling Center (FLCC), aimed at educating rural and semi-urban populations on the significance of microfinance and its accessibility. The program was hosted in collaboration with Samaya Jyothi, a local NGO committed to community development and women’s empowerment.
Officials from the Reserve Bank of India explained how microfinance can serve as a pivotal tool in transforming grassroots economies. They elaborated on the basics of microcredit, interest rates, repayment structures, borrower rights, and financial planning. Attendees were also guided on avoiding debt traps and the importance of maintaining good credit history.
Representatives from regional rural banks, cooperative banks, and MFIs were present to showcase various loan products tailored for women, farmers, and micro-entrepreneurs. Through interactive sessions and live demonstrations, participants learned about digital banking, mobile wallets, and the importance of financial record-keeping.
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A special focus was placed on empowering women through self-help groups (SHGs). With the help of NGOs like Samaya Jyothi, many women shared inspiring stories of how access to microfinance helped them start home-based businesses, send their children to school, and become financially self-sufficient. These stories were a testament to the transformative power of grassroots finance.
The session also included a Q&A round where attendees asked pertinent questions related to loan eligibility, documentation, default policies, and government subsidies. Officials patiently answered every query, assuring that steps are being taken to make microfinance more transparent and borrower-friendly.
Samaya Jyothi’s Director, Ms. Lavanya Reddy, remarked, “It’s heartening to see institutions like RBI and district administration come together for a cause that directly impacts the rural population. We are proud to partner in this mission to spread financial awareness.”
The event concluded with the distribution of microfinance brochures, contact directories of MFIs, and awareness handbooks in local languages to ensure wider reach. Collector Rajarshi Shah also held a brief meeting with key stakeholders to discuss the next steps in enhancing rural credit systems and monitoring their impact.
This awareness initiative marks an important step in aligning financial inclusion with developmental policies at the grassroots level. The presence of senior officials, the support from NGOs like Samaya Jyothi, and the enthusiastic participation of the public made this program a grand success.
As financial literacy continues to gain momentum, such collaborations between government, regulators, and civil society will be crucial in achieving financial inclusion and economic upliftment for all.
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