The Reserve Bank of India, Aizawl organised the inaugural function of Financial Literacy Week 2019 using the theme “Responsible Borrower and Agricultural Finance” at Aijal Club today. The inaugural function was graced by the Commissioner & Secretary, Agriculture Department Shri Lalhmingthanga, IAS as Chief guest and Horticulture Department Director Smt. Elizabeth Saipari as Guest of Honour.

Shri Lalhmingthanga, on his speech, highlighted on the recent two major undertaking by the Agriculture department for the upliftment of farmers, namely, the Mission Organic Value Chain Development for North east region and IFAD funded Fostering Climate Resilient Upland Farming Systems (FOCUS) to tackle the different obstacle and increase the productivity of the farmers of Mizoram. Shri Lalhmingthanga also pointed out the recent outbreak of Fall Armyworm, resulting to a large economic loss for Maize farmers, urging the Financial institute present today in the inaugural function to take steps to ensure Crop Insurance in the state.

Shri C Sangpu Vaiphei, Assistant General Manager, RBI Aizawl deliver the welcome address while Smt. Mary L Deng, General Manager addresses on the importance of being a responsible borrower on her inaugural speech. Smt. Elizabeth Saipari and Shri SN Mallick, General Manager, NABARD also delivers short speech emphasising mainly on the importance of being Financially literate to be a borrower, and the function ended with vote of thanks from Shri Ankit Agrawal, Manager, RBI Aizawl.

The Financial Literacy Week is an initiative of RBI to promote awareness on key topics every year through a focused campaign. Financial Literacy Week 2019 will be observed from June 3-7 on the theme of “Farmers” and how they benefit by being a part of the formal banking system. 

Growth in agriculture is necessary for the overall economic growth & finance is an essential enabler for the same. RBI is actively involved in formulating policies that enhance the flow of credit to the farming community. In recent years, the Bank has undertaken several initiatives to strengthen credit delivery mechanism and financial inclusion. 

In order to build awareness and disseminate financial literacy messages to the farming community, focused content in the form of posters and leaflets have been prepared for dissemination. Banks have been advised to display the posters and content in their rural bank branches, Financial Literacy Centers, ATMs and websites. Further, RBI will undertake a centralized mass media campaign during the month of June on Doordarshan and All India Radio to disseminate essential financial awareness messages to farmers.  The Financial Literacy Week 2019 programme will be continued at Sihphir and West Lungdar to create awareness and make farmer more financially literate during this week.