MoneyWise Centres for Financial Literacy (CFL)

In 2017 Swadhaar FinAccess was 1 of only 6 NGOs to be selected as part of the MoneyWise Centre for Financial Literacy (CFL) Pilot Program by the Reserve Bank of India (RBI). Following a successful pilot experience, in December 2020 Swadhaar was nominated by the RBI as part of its scale up, and as of January 2023 operates 154 CFLs across 3 States of India in hip nationalized sponsor banks.

Our Centres of Financial Literacy (CFLs) are Centres of Hope and Action, catalysing financial inclusion in some of the most far flung and poor villages. Each CFL covers 3 blocks with 50% village coverage in each block and 30% of the adult population in each village. Across Swadhaar’s network of CFLs our Trainers work closely with the community and local institutions to provide holistic financial inclusion for families, and particularly women, through financial and digital literacy training, product linkages and handholding.

Over the next 3 years, Swadhaar’s CFL network will impact over 5 million underserved rural participants, and our aim is to ensure that the CFL becomes a trusted and permanent resource for rural families to access and use formal financial services and build their financial resilience.

* Data as on December 2022

Total Outreach – 20,24,314

Product Linkages – 1,40,065

* Swadhaar’s Outreach from inception to December 2022

Swadhaar’s Model under the RBI Moneywise Program: Centres for Financial Literacy (CFLs)

Features of Swadhaar’s CFL methodology :

  • Detailed village mapping
  • Building trust and close working relationships in the community
  • Recruiting locally
  • Customized training material as per culture and needs
  • Communication campaigns to spread the word about trainings
  • Creating a buzz around product linkages through the ‘Swadhaar Mela’ – our product linkage camps
  • Regular feedback through our digital channels and tele calling system
  • Regular updation and development of new content
  • Ongoing community support as with our proactive pandemic response