7000 microfinance borrowers attended Nirantara financial literacy program

Microfinance Focus, March 2, 2010: Karnataka( India ) -based Nirantara microfinance  organized financial literacy program for its borrowers in January – February this year in Bidar, Gulbarga and Bijapur, the three districts in Karanataka state of India, where it operates. More than 7,000 members who attended the program were given basic lesson in:
1. Savings for life-cycle needs and investments
2. Life insurance instruments for securing their family
3. Balanced financial planning & management within house and in their micro-business
4. Importance of financial awareness and
5. Planning for education of children, investment in business, housing and life-cycle needs such as marriage.

Nirantara Financial literacy program

A short video on Financial Literacy was shown at the venue. Several local officials, Nabard officers, Lead Bank Managers, reputed NGO heads and university professors were also invited for the program.
At Gulbarga, Dr. Shalini Rajneesh IAS, Secretary of Hyderabad-Karnataka Development Board was invited as Chief Guest to address the gathering. She has initiated ‘Women Super Market’ for promoting products of women and SHGs. Nirantara, through its sister concerns, will be part of the initiative soon, said the news release.

Most of the members have decided to open bank accounts to save and start financial transactions as the demand for saving and insurance was spontaneous, said Nirantara and added that it would continue to facilitate this process of financial inclusion.

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