Mumbai, June 22 (KNN) Hindi and other Indian languages can act as a bridge between the banker and the customer, RBI Governor Raghuram Rajan has said pressing for the need to arrange for financial literacy in the language poor people understand.
 
“Recently there have been many incidents where poor people were robbed of their money through Ponzi schemes. Very often people lose their lifetime earnings through these schemes. It is the responsibility of the Government and the banking sector to provide banking facilities to those who have money, but have no access to formal banking channels in a language that they would understand,” he said.
 
“We should also arrange for financial literacy in the language that they understand. In these efforts, Hindi and other Indian languages can act as a bridge between the banker and the customer, he added.
 
RBI Governor said this here last week while presenting the Rajbasha Shield for the year 2013-14 awards to the winning banks.
 
While congratulating the award-winning banks and financial institutions, S S Mundra, Deputy Governor, Reserve Bank of India stated that today banking interface is changing rapidly. It has moved from brick and mortar branches and computer banking to mobiles today.
 
 
“Efforts are being made to provide banking facilities through banking correspondents to cover more and more people. As the purview of banking expands, issues connected with it are also changing. In this era of advance technology, issues of hacking pose a major threat,” Mundra said.
 
“It is our responsibility to sensitise the customers about cyber security and care to be taken while using technology. I think, Hindi and other Indian languages will help us to fulfil this responsibility,” he added. (KNN Bureau)