Financial Inclusion and Literacy Centre: The Concept

Swadhaar has been able to reach out to several thousands of people through its financial training programmes. However, impact assessment studies done in 2011 revealed that while awareness of financial products increased significantly at the community level, this did not always translate into behaviour change or greater use of financial instruments and services. The need to make this critical transition from awareness to action led Swadhaar to the idea of having a permanent resource centre that would not only provide financial training and information, but also deal with financial issues on an individual basis and provide the support required to make the right financial decision in each case. Thus was born the concept of the Financial Inclusion and Literacy Centre (FILC). The pilot of the first FILC in Chembur, Mumbai was conducted with support from Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH and Michael and Susan Dell Foundation.

The FILC is envisaged as a full-fledged permanent resource centre with a dedicated team of trained personnel with access to an up-to-date database of financial products and information. The centre encompasses all of Swadhaar's initiatives on financial literacy and awareness. It promotes the Financial Education Programmes (FEPs), encourages participants to avail of formal sources of credit, and also provides advice on bank accounts, insurance and investments.

While the ultimate goal of FILCs is financial inclusion of all members of a community, the specific objectives of FILCs are the following.
  • To provide information and counselling to the community on financial products and services available to them
  • To educate the economically disadvantaged people in urban/semi-urban areas to make informed decisions pertaining to their finances
  • To facilitate access and provide linkages to different financial products and services in the formal sector
We firmly believe that as more people catch on to the concept of an FILC, the FILCs will become the most crucial nodes for fulfilling the financial inclusion agenda.

The following are the training programs currently implemented through the FILC:

1. Financial Education Program (FEP) for women
(Please click on the Hyperlink above)

2. Financial Education Program (FEP) for Men
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3. Financial education for working youth attending evening/night schools
(Please click on the Hyperlink above)

@Copyright 2011 Swadhaar FinAccess                                              CIN: U91990MH2005NPL151790