Bhubaneswar: Odisha Finance Department Principal Secretary Sanjeeb Kumar Mishra on Monday urged banks to intensify efforts to improve financial literacy among poor and rural populations, warning that lack of awareness leaves them vulnerable to cyber and financial fraud.
Speaking at an event organised by the Reserve Bank of India (RBI) to mark Financial Literacy Week, Mishra said the state government provides an average of nearly ₹50,000 annually to each poor family through various welfare schemes and subsidies.
“If any of them becomes a victim of financial fraud involving ₹3,000 or ₹5,000, it can cause severe mental stress,” he said, stressing the need to protect vulnerable sections from cyber fraudsters through better financial awareness.
Mishra noted that people in tribal and remote rural areas often do not fully understand the Odia language and advised banks to design financial literacy campaigns in a more inclusive and accessible manner to effectively empower such communities.
The RBI has been observing Financial Literacy Week every year since 2016 with a dedicated theme. This year, the campaign is being held from February 9 to 13, focusing on the theme ‘KYC: First Step towards Safe Banking’.
RBI Bhubaneswar Regional Director Sarada Prasan Mohanty also emphasised the importance of financial literacy and timely KYC updates in bank deposit accounts to ensure safe and secure banking practices.
