Financial Literacy Centres
Financial Literacy Centres is a flagship program of Sukalyan which are ideally located in the densely populated and easily accessible areas in village to serve maximum rural communities at a time. Each centre covers at least 15 villages with typically 2500- 3500 households in a year. These centres are selected after a thorough need assessment with the primary indicators of non-accessibility of banking services, low savings habit among the communities and lack of access to information on Govt. schemes and primary entitlements.
To facilitate financial knowledge building and easy access to financial services.
To provide financial counseling services in a non-intimidating environment using local languages.
To provide education on financial planning, responsible borrowing, proactive and early savings, debt counseling, micro pension and insurance.
To take up any other activity that promotes financial literacy, awareness about banking services, financial planning and amelioration of debt related distress of an individual.
Workshops at FLC
Facilitating Linkage services
Workshop on Basic Financial Literacy going on at Kamrup FLC, Assam
A standardised training approach with five modules has been developed through rigorous experiment with community to keep as simple as possible in local languages and systems. The Women are outreached through village promotion events by mobilisers and then invited to participate in the series of Workshops based on the module mentioned above. At the end of the workshops the women are mobilised to enrol in the existing government social security schemes. In between the workshops regular home visits are conducted by mobilsers and Centre staffs to build rapport and provide one-to-one financial counselling.
Bankura, Purulia & Jhargram District in West Bengal
Nalbari & Kamrup District in Assam
Khordha & Puri District in Odisha
Khowai District in Tripura
Impact so far
In 2019-2020, more than 4000 women participated in the workshops at various FLC Locations
73% of women who never saved money have started savings after participating in the FLC programs
45% of Women have started using ATM by themselves.
38% of Women who never visited Bank started regularly visiting Banks.
FLC program through its Credit linkage activity was able to facilitate micro-loan to 102 Women through a Microfinance company where more than 25 lakhs of loans were provided to the said women.
Village level awareness session going on at Khordha FLC, Odisha
A woman participant came for enrolling under a Govt scheme at Bankura FLC, West Bengal
‘Arth’ program is designed for women living at extremely rural conditions where no formal financial institutions are present within 5 Km or adequate presence of non-active banking institutions which actually affected these women/ families to inculcate their savings habit.
The ‘Arth’ program have a cadre of 50 women financial counselors better known as ‘Mitra’ (Friend) who are imparting financial literacy awareness across 100 villages of West Bengal. These villages are periodically changed according to the need. The ‘Mitra's’ are chosen from the local community having leadership quality and a known face across the villages and these financial counselors conduct three awareness meetings each month in a village targeting 20 participants in each meeting and post meeting regular follow-up is done through focused group discussions, door-to-door house visits and family financial counselling sessions through which the Mitra’s try to link every woman to financial inclusion schemes of government and helps them to use banking products effectively. These Mitra's are regularly trained on various issues relevant to village & community development and being asked to replicate those which enables them to keep a continuous touch with the women.
Followup with the women
A Mitra conducting awareness meeting at a village in Bankura
North 24 Parganas, Bankura, Birbhum & Uttar Dinajpur District in West Bengal
Impact so far
In 2019-2020, 37,711 women participated in the workshops conducted by the Mitra's.
Mitra’s assisted 5,361 women to open their first bank accounts, 4,841 women applied for the ATM cards, 17,749 were trained for using the ATM cards.
The Mitra’s newly linked around 2439 women in various financial schemes who were not linked earlier.
Capacity building session for Mitra's underway in Bankura, West Bengal
FinChamp program- for school students
When financial literacy is taught in school, students learn this foundational skill at the critical time, as they are just beginning to manage their own money. School FinChamp Program began under Sukalyan’s Financial Literacy & Inclusion theme in 2019 to reach out to school students through innovative and interactive workshops and tools.
School FinChamp program are conducted for the students of class IX and class X from Govt sponsored schools. The workshop tries to develop their knowledge on good financial behaviour. In this workshop interactive and participatory tools are used making the session simple and light for the student to understand Financial Literacy well. A quiz to evaluate the learning of the student is followed post-workshop. And to motivate the students elements of gifts are also introduced whoever performed better in quiz.
Increase financial knowledge among school students.
To help school students understand the value of money.
To inculcate the habit of saving, investing and financial planning.
Coverage: West Bengal