Kudumbashree programs cover about 37 Lakhs families organized under 2.02 Lakhs NHGs through 1061 CDSs. All NHGs have bank accounts through which members of NHGs have access to savings and credit services of banks. The NHG is acting as intermediary between banks and ultimate beneficiary. At NHG level, it is observed that there is lack of knowledge about banks procedures, misconceptions regarding interest rates and lack of awareness about banking ombudsmen etc. Kudumbashree has chalked out a comprehensive Financial Literacy Campaign in order to provide a platform for NHGs to be aware of and benefit from formal banking services.
Trainings to Resource Persons, Bank Managers/officers, CDS Representatives/Officers, and to NHGs were conducted. All NHGs, CDSs were provided a Financial Literacy Handbook (in Malayalam) containing, details regarding NHG-Bank account opening, NABARD-Bank linkage grading process, and Banking ombudsmen services etc. Training on Financial Literacy Handbook was imparted to all NHGs.
In addition to NHG level orientation and training, District level and Panchayath/Block level banking parliaments were organized. In the Banking Parliaments, NHGs and CDSs were clarified specific issues/queries by the panel (Bank officers) members. District missions were also arranged exposure visits by NHGs to bank branches to understand banking services.
Subsequent to the training, Banking Parliaments and Bank exposure visits, a workbook will be provided to all NHGs. The workbook will have combination of questions, small stories, simple calculations, Bank procedures and related queries.. An initial campaign was conducted in July 2010, the subsequent campaign will be organized in the first quarter of 2012.
