By IANS,
Bangalore : The Reserve Bank of India (RBI) will host an international convention on “financial inclusion and financial literacy” here March 22 as part of its platinum jubilee celebrations.
Union Finance Minister Pranab Mukherjee will inaugurate the convention and the Organisation of Economic Cooperation and Development (OECD) will coordinate it with the central bank.
“We will distribute prizes to winners of the state-level quiz contest on financial literacy being held by the central bank across the country,” RBI regional director S. Srinivas told reporters here Monday on the margins of a state bankers’ meeting.
In a related development, the state level bankers’ committee (SLBC) has also decided to announce at the convention a road map to extend the smart card-based Electronic Benefit Transfer (EBT) scheme across Karnataka.
Under the EBT scheme, payment of Mahatma Gandhi Rural Employment Guarantee Act (MGREGA) wages and deliver of other social security benefits to beneficiaries are made on a smart-card mode.
“The business correspondent of the implementing bank uses biometric smart cards and voice-guided systems to help rural people to access banking services at their doorstep,” SLBC chairman Basanth Seth said.