Gorakhpur,Dec 3: Sa-Dhan, India’s first association of community-development finance institutions, in collaboration with the Reserve Bank of India conducted a customer awareness & financial literacy programme in Gorakhpur on Friday. Over 150 people & microfinance borrowers, from diverse communities in the region, participated in it.

The programme was led by Shri Jitendra Kumar, Department of Supervision, RBI Kanpur branch and his team, and Ambrish Srivastava, Regional Director - North, Sa-Dhan.

The programme’s objective was to discuss with people aspects of responsible finance, strengthen their understanding of the financial ecosystem, and encourage them to make informed financial decisions.

The topics discussed at the programme included the following;

·        Grievance Redress Mechanisms available to microfinance borrowers

·        Borrowers’ rights

·        Awareness on cyber fraud, digital safety, and responsible use of mobile-based financial services

·        Fair Practices Code, transparency in loan pricing & disclosure norms

·        Timely loan repayment for credit discipline & future eligibility

·        Credit Bureau reporting & avoiding over-indebtedness

·        Financial planning & household budgeting

·        Insurance awareness, especially health & life insurance for the vulnerable

·        Digital financial literacy, including UPI safety & OTP protection

·        Do’s & don’ts while availing loans

·        Role & functions of Self-Regulatory Organisations (SROs)

·        Current landscape, role & contribution of the microfinance sector

Speaking at the event, the team from RBI emphasized the need for good financial awareness among microfinance borrowers and reiterated the regulator’s commitment to strengthening customer protection frameworks. Lead District Manager Gorakhpur Shri Manoj Srivastava addressed the participants, and emphasised on financial literacy, digital modes, government schemes and other aspects of financial inclusion. Shri Ambrish highlighted Sa-Dhan’s ongoing efforts toward capacity building, transparency, and responsible lending. 

The participants expressed appreciation for the initiative, noting that such awareness programmes substantially improve their understanding of formal financial systems, and safeguard them from potential risks.

Sa-Dhan & RBI plan to continue such outreach activities across various districts to promote financial literacy, and uphold the principles of responsible finance.