NEW DELHI: On the event of celebration of 90th anniversary of the Shri Ram College of Commerce, a financial literacy cell called ‘VITTSHALA’ was launched by Mr. Arun Jaitley, in the college.
Laying emphasis on the significance of financial inclusion in India, the Union Finance Minister expressed joy over the fact that the students of such a prestigious college were striving towards the same.
He also took the opportunity to highlight the various achievements of the government in the field of financial inclusion, such as the unprecedented success of Jan Dhan Yojana under which 24 crore bank accounts were opened and the integration of LPG subsidy payments and insurance services with bank accounts of beneficiaries. These measures helped in ensuring transparency and minimising subsidy leakages.
Mr. Jaitley also took the opportunity to talk about Mudra Yojana which would empower small entrepreneurs, especially disadvantaged groups and women, to get loans easily and shed light upon the government's target to disburse loans worth Rs 1,80,000 crore this year under the praiseworthy scheme. The infrastructure which would be created as a result would be used for crop insurance and various health schemes.
The Vice Chancellor of Delhi University, Mr Yogesh Tyagi, appreciated this initiative by the college for reaching out to large sections of the society and propagating financial literacy. By means of seminars, workshops, discussions and community engagement, Vittshala will be instrumental in spreading awareness about managing financial resources effectively. The cell has been founded by a group of teachers and students led by senior faculty member, Anil Kumar. Being a multifaceted programme, Vittshala will use peer counselling and develop interactive apps and events elaborating basics of investments, financial planning, channelization of savings, banking and insurance services, how to open and operate bank accounts and schemes related to it.
The student interns have been provided extensive training by senior officials from Life Insurance Corporation of India, State Bank of India and Agriculture Insurance Company Of India Ltd.