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

As part of launch of ‘Niveshak Didi’ initiative, IPPB conducted India’s First Floating Financial Literacy Camp by a newly appointed ‘Niveshak Didi’.

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

New Delhi: 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 today.

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.

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.

About IPPB

India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by the Government of India. IPPB was launched by the Prime Minister, Shri Narendra Modi on September 1, 2018. The bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India. The fundamental mandate of IPPB is to remove barriers for the unbanked and under-banked and reach the last mile leveraging a network comprising 160,000 post offices (145,000 in rural areas) and 400,000 postal employees. IPPB’s reach and its operating model is built on the key pillars of India Stack - enabling Paperless, Cashless and Presence-less banking in a simple and secure manner at the customers' doorstep, through a CBS-integrated smartphone and biometric device. Leveraging frugal innovation and with a high focus on ease of banking for the masses, IPPB delivers simple and affordable banking solutions through intuitive interfaces available in 13 languages. IPPB is committed to provide a fillip to a less cash economy and contribute to the vision of Digital India. India will prosper when every citizen will have equal opportunity to become financially secure and empowered. Our motto stands true - Every customer is important; every transaction is significant, and every deposit is valuable.