Search Foundation is committed to Financial inclusion of low-income groups in India. The need for financial literacy and education arises from various reports published and released across the country by Government.
Lack of awareness of digital financial literacy, especially among the rural population is a major challenge in the country, more so in light of the Government’s plans to make India a cashless economy. There is an urgent need to create awareness among the citizens, especially in rural and semi-urban areas regarding digital finance services and also enable/support in access to digital finance services options.
In the 21st century we also need to move towards digital literacy because most of the government schemes are operated and implemented via digital mode.
While both men and women require intervention to enhance their financial knowledge, focused intervention is needed to improve the financial attitude of men and the financial behaviour of women. Although, living in a joint family negatively impacts financial literacy buton the other hand consultative decision-making has a very positive impact.The influence of these key aspects of an Indian family highlights the need to involve family members in financial literacy programs to improve financial decision making of families.
India is a developing economy with focus on achieving sustainable development goals (SDG2030). To achieve sustainable development goals, it is important that all sections of the society get equal opportunity and participate in the process of nation building.
The aim of this project is to impart digital financial literacy to 10 lac families, 25 Thousand merchants and 25 Lac citizens with the help of Search Foundation Volunteers across all panchayats in the Pune district. The objective is to create Digital Financial Hubs, by hosting awareness sessions on government policies and digital finance options available for rural citizens.