Excelsior Correspondent
JAMMU, Feb 10: Reserve Bank of India (RBI) today launched Financial Literacy Week in the Jammu and Kashmir Union Territory to promote awareness on Micro, Small and Medium Enterprises (MSMEs).
The theme selected for the current year FLW-2020 is ‘MSMEs’ which is being observed from February 10 to Feb 15, 2020. The messages disseminated during this week will focus on formalisation, collateral free loans, trade receivable discount system and timely repayment of loans.
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The inaugural function for the Union Territories of Jammu and Kashmir and Ladakh was held at Jammu today in presence of Banking Ombudsman P Shimrah, Ombudsman for digital transactions R C Kotwal, Director Finance J&K Govt, senior officers of RBI, NABARD, senior officers from MSMI-DI, SICOP, DIC, KVIC, bankers and the officials from Department of Industries and Commerce.
Satya Narain, Officer -in-Charge RBI Jammu, while inaugurating the campaign exuded confidence that the initiative will go a long way in helping the intended target group in connecting with banks and take benefits of the Government/ RBI Schemes for the MSME sector.
He said that the focus of MSME theme will be on creating awareness about aspects related to formalization, collateral free loan, discounting of receivables , timely payment of banks and rehabilitation of stressed units. He said in order to build awareness and disseminate financial literacy messages to the MSME entrepreneurs, focused content in the form of posters and TV commercials have been prepared. Banks have been advised to display the posters and content in their bank branches, financial literacy centres and ATMs besides websites. The RBI shall undertake a centraliksed mass media campaign during February on Doordarsha and All India Radio to disseminate essential awareness messages to the MSME entrepreneurs, he added.
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