Mumbai: RBI on Thursday asked banks to organise special camps from April 1 to educate public about digitalp ayments through UPI and 99# (USSD) code platforms.
It said the policy on conduct of camps by FLCs (Financial Literacy Centres) and rural branches of the banks has been revised given the recent developments on withdrawal of legal tender status of old Rs 500/1,000 notes and the focus on going digital.
Besides the special camps on going digital, RBI said FLCs will continue to conduct the tailored camps for the different target groups.
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FLCs and rural branches of banks can get support for the financial literacy camps to the extent of 60 percent of the expenditure with a cap at Rs 15,000/per camp.
The RBI has also detailed reporting mechanism for banks and the financial literacy camps will be assessed/evaluated on an ongoing basis by its Lead District Officers (LDOs).
Earlier, lead banks were asked to set up FLCs in each of the Lead District Manager (LDM) Offices.
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