RBL Bank Partners with CDC to Expand its Financial Literacy Program 'Saksham' in Madhya Pradesh

RBL Bank (formerly The Ratnakar Bank Ltd.) and CDC (the UK development finance institution) have announced a new financial literacy program that will be rolled out in Madhya Pradesh.

(L-R): Mr. Rajeev Ahuja (Head – Strategy, RBL Bank), Mr. Mark Eckstein (Director –Environmental & Social Responsibility, CDC) and Mr. Abhishek Aggarwal (Head - Accion, India) signed a contract on the 5th of March for the Saksham Financial Literacy program to be launched in Madhya Pradesh.

The new initiative, which builds on RBL Bank’s ‘Saksham’ program, will aim to increase financial inclusion (FI) by extending financial literacy to around 25,000 individuals and 300 villages in four districts of Madhya Pradesh during 2015. The programme, which will be designed and implemented by Accion India, will target rural areas where levels of education are low and levels of financial exclusion are high. In depth classroom-style training will be supplemented by a mass awareness campaign that will specifically cater for people with low literacy levels.

The umbrella financial literacy program ‘Saksham’ was launched by RBL Bank in December 2013 and through its partnerships has reached out to approximately 35,000 individuals from low-income communities in the States of Gujarat and Maharashtra.

RBL Bank currently serves over 700,000 individuals under various financial inclusion initiatives and offers products and services in over 6,000 villages across Maharashtra, Goa, Karnataka, Gujarat, Rajasthan, Madhya Pradesh and Tamil Nadu.

Sandip Ginodia , Director

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