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India’s first floating financial literacy camp was recently organized by India Post Payments Bank (IPPB).
Current Affairs Important Points
About the Floating Financial Literacy Camp
- India’s first floating financial literacy camp was conducted as part of the launch of the initiative “Niveshak Didi” in Srinagar, Jammu and Kashmir.
- It was conducted among local residents around Srinagar’s famous Dal Lake.
- Niveshak Didi conducted a financial literacy session in the local Kashmiri language from a Shikara – a unique wooden boat found in Srinagar’s Dal Lake and other water bodies.
It focuses on topics such as:
- Various banking and financial products
- Importance of joining mainstream financial services provided by various regulated entities
- Protection against various types of risks related to investments and frauds.
- Its main objective is to promote economic empowerment to the last mile.
What is “Niveshak Didi” initiative?
- “Niveshak Didi” initiative was implemented based on the concept of “By Women, For Women”. This concept believes that women in rural areas feel more comfortable sharing their queries with other women.
- It was launched by IPPB in collaboration with Investor Education and Protection Fund Authority (IEPFA) under the Union Ministry of Corporate Affairs.
- As part of this initiative, three ‘Niveshak Didi’ representatives from the Kashmir Valley were awarded certificates at the recent IEPFA conference in Srinagar.
- India Post Payments Bank (IPPB) comes under the Department of Posts, Ministry of Communications. It is fully owned by the central government. This bank was launched on September 1, 2018 to become the most accessible and reliable bank for the common man in India.
- IPPB’s main objective is to overcome the barriers of the unbanked and underbanked and reach last mile connectivity using a network of 160,000 post offices and 400,000 postal employees. It aims to access paperless, cashless and presence-less banking in a simple and secure manner at the doorstep of customers through a CBS-connected smartphone and biometric device.