THE MINISTER OF STATE IN THE MINISTRY OF FINANCE
(a) and (b) As apprised by Reserve Bank of India (RBI), they have conducted a pan-India Financial Literacy and Inclusion survey in 29 States and 5 Union Territories (excluding Andaman & Nicobar Islands and Lakshadweep Islands). Under this survey, financial literacy was measured across three components namely financial knowledge, attitude and behaviour. Further, the maximum score for the three components of financial knowledge, financial attitude and financial behaviour are 7, 5 and 9 respectively. India’s average scores in the three components are 3.7, 2.6 and 5.6 respectively and for financial literacy it is 11.9 out of the total score of 21.
As apprised by RBI, although, the State-wise financial literacy scores, based on the survey, for rural areas are not available, the same is available zone wise. The average score for different zones is as under:
Zone Overall Financial Literacy Score Urban Rural
North 11.5 11.5 11.5
East 12.1 12.1 12.1
Central 12.4 12.5 12.1
West 12.6 12.6 12.5
South 11.0 11.2 10.3
Source: RBI
(c) to (e) RBI, vide circular dated 14.01.2016, had advised the banks to conduct special camps for the newly included people in the financial system including Pradhan Mantri Jan-Dhan Yojana (PMJDY) account holders, for a period of one year. Accordingly, Financial Literacy Centres (FLCs) of banks and rural branches of banks across the country had conducted special camps for newly inducted people in the financial system during the period January 2016 to March 2017 as per details given below:
Period Number of Camps
Jan16 – Mar 16 Apr16-Jun16 Jul16-Sep16 Oct16-Dec16 Jan17– Mar17
FLCs 5,990 7,838 9,501 11,676 9,591
Rural Branches 34,115 38,568 37,983 36,918 37,528
Source: RBI
Further, as advised by RBI, financial literacy camps are organised by FLCs and rural branches of banks. Following are the numbers of such camps organised by FLCs and rural branches in the country:
Period FY 2017-18 FY 2018-19 FY 2019-20 (upto Dec.)
FLCs 1,29,280 1,45,427 1,13,015
Rural Branches 2,64,120 3,05,672 2,61,428
Source: RBI
As informed by RBI, as on 31.3.2019, there were 5.41 lakh banking outlets in villages providing banking services through Business Correspondents (BCs). State-wise data of banking outlets in villages through BCs is at Annexure. Data regarding ratio of public and private sector banking agents to population for rural areas is not centrally maintained.
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Annexure as referred in reply to in part (d) of the Lok Sabha unstarred Q. No. 4650 for answer on 23.03.2020
State-wise data as on 31.03.2019
State No. of Banking Outlets in Villages through BCs
Andaman and Nicobar Islands 479
Andhra Pradesh 22,759
Arunachal Pradesh 2,497
Assam 21,387
Bihar 42,536
Chandigarh 150
Chattisgarh 15,613
Dadra & Nagar Haveli 106
Daman & Diu 17
Delhi 1,087
Goa 263
Gujarat 19,555
Haryana 9,428
Himachal Pradesh 7,363
Jammu & Kashmir 3,516
Jharkhand 25,676
Karnataka 26,117
Kerala 2,728
Lakshadweep -
Madhya Pradesh 46,406
Maharashtra 37,842
Manipur 2,263
Meghalaya 4,315
Mizoram 426
Nagaland 803
Odisha 40,998
Puducherry 92
Punjab 11,062
Rajasthan 29,698
Sikkim 1,170
Tamil Nadu 18,817
Telangana 9,749
Tripura 751
Uttar Pradesh 90,613
Uttarakhand 10,345
West Bengal 34,502
Grand Total 5,41,129
Source: Reserve Bank of India
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