India’s first floating financial literacy camp in Dal Lake

New Delhi, Nov 05: India Post Payments Banks (IPPB) is conducting India's first floating literacy camp 'Niveshak Didi' in Srinagar's Dal Lake. Prime Minister himself appreciated this unique initiative and took to twitter to praise 'Niveshak Didi', a camp to promote financial literacy among women.

In response to a tweet by India Post Payments Bank, the Prime Minister said,"Wonderful initiative which will further women empowerment!"

India Post Payments Bank (IPPB) conducted the floating camp to promote financial literacy 'By the women, for the women', in Srinagar, Jammu and Kashmir today.

India, being a large and 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.

The 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

'Niveshak Didi' initiative is based on the ideology 'of women for women' as rural area women feel more comfortable sharing their queries with a female. Three representatives of '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, Rao Inderjit Singh and the Member of Parliament (Srinagar), Dr. Farooq Abdullah along with 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 and 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. Since Shikara is part and parcel of their life, the gathering took 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, 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 and wide to every household in the country, that too in various terrains and geographies and 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, J Venkatramu, MD and 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."