(a) whether the Government is taking steps to create awareness about safe digital banking and payment products;
(b) if so, the details thereof; and
(c) the details of the steps being taken regarding electronic Banking Awareness and Training based on the outcome of Financial Literacy and Inclusion survey conducted by the Reserve Bank of India?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE
(a) to (c) Promotion of digital payment is one of the priorities of the Government to facilitate hassle free and seamless banking transactions for the people of the country. A pan-India Financial Literacy and Inclusion survey was conducted by National Centre for Financial Education (NCFE) in 2018-19, to assess the status of financial literacy and inclusion in the country.
Several initiatives are being undertaken in an ongoing manner by Reserve Bank of India (RBI) and Banks to promote and create awareness about digital payments in the country. Some of these initiatives are as follows:
Initiatives taken by RBI:
i. RBI conducts Electronic Banking Awareness and Training (e-BAAT) programmes through its regional offices to create awareness about digital payments and target audience includes rural area population. The focus of this training includes topics on safe practices while using digital payment products, Cyber hygiene, customer protection, grievance redressal mechanisms etc. The target audience includes cross section of the society consisting of bank staff, customers, government officials, students, Self Help Groups, farmers, shopkeepers, traders and the common man. From 2019 till date, a total of 869 e-BAAT programmes were conducted by various Regional Offices of RBI.
ii. RBI has been also carrying out multi-channel public awareness media campaigns under the aegis of ‘RBI Kehta Hai’ by television, radio, online, SMS and social media posts, whereby public is sensitised about how to be vigilant while using digital products such as mobile banking, ATMs, internet banking, etc., and how digital frauds could be averted.
iii. RBI has carried out multi-lingual media campaigns on themes like ‘Convenience of Digital Banking’, ‘Switch On / Off and Setting Transaction Limits’ facility for card transactions, and ‘Safety of Digital Banking’ among others, through various advertisements issued in major newsprints.
iv. Centre for Financial Literacy (CFL) project: To have an exclusive focus on financial literacy at the block level through brick and mortar Centres, CFLs have been set-up by RBI at the block level. A total of 1107 CFLs have been set up across the country as on June 30, 2022. Awareness about digital banking is one of the areas covered under the CFL project.
Initiatives taken by Banks:
i. Financial Literacy Camps (FLCs): Banks have been advised to conduct special camps through their FLCs (2 camps per month on “Going Digital” through UPI and *99# (USSD) including tailored camps for different target groups viz., farmers, Micro and Small entrepreneurs, school children, Self Help Groups and Senior citizens.
ii. Rural Branches of banks are required to conduct one camp per month covering all the messages that are part of Financial Awareness Messages (FAME) booklet and the two digital platforms UPI and *99# (USSD).
iii. Banking Correspondents (BCs) led initiative: A strong network of about 5.2 lakh BCs, representing the last mile connect in the Banking Services delivery system is also creating awareness while facilitating transactions in the rural areas, because of their familiarity with Local/Rural population.