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The Financial Literacy Program
The Financial Literacy Programme is designed to help women from low income families with the knowledge and tools they need to manage cash-flow, save safely, plan for the future and make informed,intelligent financial decisions.
Intelligrow partners with Suyoga credit co-operative society and other financial institutions to integrate a savings initiative. Where families open savings accounts and are provided access to essential banking and financial services. Financial literacy has been recognised and acknowledged as a pioneering programme by the Reserve Bank of India (RBI). Our intent now is to find more partners to digitise and scale this financial literacy programme.
The Financial literacy program, in-classroom model is a 4-module training program that will cover more than 10,000 women across India. With the online program our intention is to reach as many women from ultra-poor families as possible, across the country. Reach as many and make them financially literate and financially stable. For this we will be using mass media, outreach by staff in partner banks, in-classroom training and technology platforms; while ensuring that the content is understood by our audience which include the poorest and the illiterate.
Program content
- Debt Management
- Banking Channels and Digitisation
Understanding loans as a way of fulfilling emergency needs and goals. Understanding loans, proper and timely repayment, negative effects of loan defaults, Credit Bureau and its impact.
Today financial literacy includes an understanding of digital banking as also different banking channels available for financial products and transactions.
- Budgeting
- Saving
The first step to financial literacy. Creating budgets to track income and expenses and identifying surplus. Budgeting involves understanding needs and wants and prioritisation of expenses.
Once surplus is identified, they are trained to use banks and their different savings products.