Financial Literacy Programme with NABARD, Sikkim

The programmes were conducted with funding support of NABARD, Sikkim Regional Office, in collaboration with KVK Gyalshing & Namchi, for the members of Self Help Groups and Farmers Club of west and south Sikkim.

We have conducted financial literacy training and awareness programmes, to spread the knowledge on financial skills and management, to the poor and economically disadvantaged sections of the society. Every member of the society should be linked to any of the formal banking systems of the country where she/he can access the four basic financial products, i.e., saving, loan, remittance and insurance. Hence, it is crucial to understand the concept of financial inclusion and financial literacy, and learn the tools to carry the messages to the field.

It was noted that most of the participants were not wholly familiar with the banking system. Most of them don’t even have their individual account in a bank. An evident gap was noticed in financial knowledge, especially lacking in resourceful savings and investment approach, which was the topic NIDS focused on during this camp. The reception was positive and enthusiastic. Many of the participants were eager to learn and asked a variety of questions. Such programmes need to be conducted on a large scale to cover all such people in Sikkim.