India Post Payments Bank Conducts India’s First Floating Financial Literacy Camp

India Post Payments Bank (IPPB), stablished under the Department of Posts, Ministry of Communication with 100% equity owned by the Government of India, conducted India’s First Floating Financial Literacy Camp with an initiative called ‘Niveshak Didi’ to promote Financial Literacy ‘By the women, for the women’, in Srinagar, J&K.

India, being a large & growing economy, still finds it challenging to spread financial literacy across demography, as an enormous share of population still resides in rural areas. IPPB created a new legacy with the help of world’s largest postal network to extend its reach to the last mile and bridge financial inclusion gaps.

In a pursuit to carry the GoI mandate, IPPB initiated Financial Inclusion journey to resurgent rural India where reach and communication always remained a barrier. Right from the inception, Postmen/ Gramin Dak Sevaks have been reaching out to the masses in every corner of the country, offering digital banking services at their doorsteps.

To take the Financial Literacy drive ahead, IPPB, in collaboration with Investor Education and Protection Fund Authority (IEPFA) under the aegis of Ministry of Corporate Affairs (MCA), launched the initiative called ‘Niveshak Didi’ to promote Financial Literacy “By the women, for the women” concept. ‘Niveshak Didi’ initiative is based on the ideology of women for women as rural area women feel more comfortable to share their queries with a female itself. Three representatives ‘Niveshak Didi’ from the Kashmir valley were given certificates during the recent IEPFA Conference in Srinagar, J&K, by the Union Minister of State for Ministry of Corporate Affairs, Shri Rao Inderjit Singh and the Member of Parliament (Srinagar), Dr. Farooq Abdullah along with Smt. Anita Shah Akella, CEO IEPFA & JS MCA & other dignitaries from IEPFA, Department of Posts, India Post Payments Bank, CSC e-governance, Institute of Company Secretaries of India, Kashmir Chamber of Commerce & Central Reserve Police Force.

Union Minister of State for Ministry of Corporate Affairs, Shri Rao Inderjit Singh and the Member of Parliament (Srinagar), Dr. Farooq Abdullah at IEPFA Conference in Srinagar, J&K

As part of launch of ‘Niveshak Didi’ initiative, IPPB conducted India’s First Floating Financial Literacy Camp by a newly appointed ‘Niveshak Didi’. The Floating Financial Literacy Camp was conducted among the local residents around the world-famous Dal Lake of Srinagar, J&K. Since Shikara is part & parcel of their life, the gathering did take place on multiple Shikaras and the ‘Niveshak Didi’ held the Financial Literacy session in local Kashmiri language from Shikara itself, thus the whole session was conducted in the waters of Dal Lake.

Talking about the initiative, Shri Vineet Pandey, Secretary, Department of Posts, marked it “a tremendous step towards bridging the gap of financial inclusion. This first floating financial literacy camp ever held in India shows the ability of DoP team to reach far & wide to every household in the country, that too in various terrains & geographies & also paves the way for rural women population to increase their financial products and services comprehension, beware of frauds, and stay protected with the assistance of their own Niveshak Didi, in their own language”.

Speaking on the first floating financial literacy camp, Shri J Venkatramu, MD & CEO, India Post Payments Bank said, “Through Niveshak Didi, IPPB will attain next milestone surpassing the challenges faced by rural masses in terms of language and their basic understanding of financial products and services. Niveshak Didi, a female dakiya, having deep social connect to rural masses, will be able to collaborate and resolve their queries in a comfortable environment, at the same time enhancing the financial awareness, especially for the women”.

Floating Financial Literacy Camp conducted among the local residents around Dal Lake in Srinagar, J&K

The floating financial literacy camp was conducted under supervision of Shri Gursharan Rai Bansal, Chief General Manager & Chief Sales & Marketing Officer and Shri Vishwanath Divya, Asst. General Manager (Marketing) along with IPPB & DoP team from Srinagar, J&K. The session covered topics ranging from banking and financial products, importance of joining the mainstream financial services offered by regulated entities & protection against various types of risks involved with investments and measures of fraud prevention. India Post Payments Bank looks forward to continue such efforts to deliver its mandate of enhancing financial empowerment to the last mile.