Financial Consumer Protection Enhancing Financial Protection of Consumers in Particular Women through Financial Literacy Initiatives Supported under Consumer Welfare Fund, Department of Consumer Affairs of Ministry of Food and Consumer Affairs, Government of India Synthesis Report of Cluster Trainings Background Through various studies and interventions of CUTS, it has been observed that poor and vulnerable communities, especially women in rural areas are unable to get rid of poverty due to poor savings and lack of investment habits and lack of financial inclusion. Women are more vulnerable compared to their male counterparts mainly because they do not have means and control over finances, although women have important contribution in livelihood activities. But since the decision making is with the male members who have access to other financial services, spending and investment priorities are seldom in favour of women. Consumer Unity & Trust Society (CUTS) with the support of Department of Consumer Affairs, Ministry of Consumer Affairs, Food & Public Distribution, Government of India is implementing a project entitled, ‘Enhancing Financial Protection of Consumers in Particular Women through Financial Literacy Initiatives’ with following objectives. Objectives The main objectives included capacity building of the rural consumers, especially women in terms of financial literacy thereby enhancing their financial inclusion and other financial related involvements and boosting awareness, knowledge and skills among the target community on the financial decisions about savings, investments, borrowings, income and expenditure. In addition, overcome their vulnerability and ensure the community’s economic security by linking them with financial services and with the government/non- government development schemes. Proposed Activities The Project will be implemented in all 23 blocks of Bhilwara and Chittorgarh district. baseline study would be conducted to know the level of awareness of financial consumer rights, financial inclusion and identify required services which can be offered through banking sector or development schemes from government. Based on the outcome of baseline survey, consumers would be identified into Financial Literacy Groups in clusters. These groups would then be provided training with the support of expert trainers. Community-based Facilitators (CBFs) would be identified out of these groups, one for each group. The CBFs identified would be groomed and involved in networking with various banks, financial institutions and government departments. CBFs are being involved with sustainability point of view to take the agenda forward even after the completion of the project. 2 Hence, the Project aims at reaching out and empowering the most vulnerable rural consumers in order to improve their health, education and ensure other developmental needs and reduce gender inequality. Key Activities of the Project ‘Financial Consumer Protection’ Project is being implementing in all 12 blocks in Bhilwara district of Rajasthan. The activities to be accomplished during the project period are as following: Baseline survey Identifying consumer groups focusing on women Production of IEC materials Project launch at district level First round training Identification of Community-based Facilitators (CBFs) Periodic meetings of consumer groups Annual and Final stakeholder’s consultation and dissemination meeting at each district Headquarters Second round Training Final Stakeholder’s Consultation Project Dissemination and Advocacy Meeting Final reports and managing accounts Objectives of Cluster Trainings The purpose of the trainings was to build the capacities of the rural consumers, especially women in terms of financial literacy there-by enhancing their financial inclusion and other financial related involvements, Enhance awareness, knowledge and skills among the target community on the financial decisions about savings, investments, borrowings, income and expenditure. In addition, help them overcome their vulnerability and ensure their economic security by linking them with financial services and with the government/non- government development schemes. 3 Schedule of Cluster Trainings (Chittorgarh-First Phase) S. N. Date Cluster Block District Phase Participants Women Men Guest Total 1 08.09.17 Mevda Colony Kapasan Chittorgarh I 102 26 7 135 2 18.09.17 Chittorgarh HQ. Chittorgarh Chittorgarh I 41 15 8 64 3 10.10.17 Bhopalsagar HQ. Bhopalsagar Chittorgarh I 47 11 13 71 4 13.10. 17 Bengu Hq. Bengu Chittorgarh I 76 10 6 92 5 06.11.17 Bhadesar Hq. Bhadesar Chittorgarh I 47 7 7 61 6 08.11.17 Nimbahera Hq. Nimbahera Chittorgarh I 80 6 15 101 7 10.11.17 Barisadri Hq. Barisadri Chittorgarh I 132 6 14 152 8 21.11.17 Dungla Hq. Dungla Chittorgarh I 76 8 12 96 9 24.11.17 Gangrar Hq. Gangrar Chittorgarh I 62 2 7 71 10 16.12.17 Pahuna Rashmi Chittorgarh I 66 5 6 77 11 15.01.18 Borav Bhaisrodgarh Chittorgarh I 57 8 6 71 Total 786 104 101 991 Trainings of the First Phase (Chittorgarh) There have been as many as 11 block level cluster trainings under the first phase of training as prescribed in the project activities between September to January, 2018. All these cluster meetings covered all topics as mentioned below. The resource persons also shared some facts and information about banking sector and financial literacy/inclusion and challenges faced by financial consumers. From the above table, it is evident that 991 people have been benefited from the meetings, out of which 786 were women participants. Key Resource Persons as Speakers/Guests In all the programmes, officials like Block Development Officers of Blocks; branch managers of various banks, officials from local National Bank of Agriculture and Rural Development (NABARD) office; officials from Financial Literacy Centres of Bank of Baroda and few other banks have been the key resource persons. Besides, representatives of Panchayati Raj Institution and local Members of Legislative Assembly (MLAs) have also been participating in these programmes in the capacity of guests. 4 Glimpses (First Phase) 5 Key Achievements from the Trainings Four women and a male member participated in the State Bank of India Insurance scheme in Pind village in Badisadri block Women applied for labour card in Mevda Colony 15 Women applied for labour card in Kishanpura village in Nimbahera block One woman Shankar Kanjari applied for Jeevan Suraksha Bima in Mevda Colony Women applied for Labour card in Badisadri block Women applied for Jeevan Suraksha Bima in Badisadri Block One women and 1 men applied for Pradhanmantri Jeevan Jyoti Bima and Jeevan Suraksha Bima in Nimbahera block. A Success Story Mevda Colony on the Way to Become Fully Financial Inclusion Village Mevda colony is a revenue village of Kapasan block of Chittorgarh district, 40 km away from Chittorgarh. Mainly 250 families of Kanjar community lives in Mevda colony. Kanjar community is known as being attached to the trade of handcuffs liquor. In terms of education, the village is quite backward. Women are also involved in trade of handcuffs liquor. They are less aware of government schemes meant for them. Under the project, through baseline survey, it was revealed from nearly 250 families of the village that only 60 percent people have bank account. In an effort to achieve the above objective, CUTS organised a workshop in Mevda Colony on September 08, 2017. Nearly 100 women participated in the workshop. By the training, the villagers could receive financial information as it empowered them with financial information specially the lower income group community. A camp was again organised in Mevda Colony to link villagers with labour card scheme on September 10, 2017. In this camp, 62 women and men applied for labour card and 100 men and women were linked with micro insurance schemes. CUTS also targeted that Mevda Colony should be a model village in terms of financial literacy in the district by December, 2018. 6 Schedule of Cluster Trainings (Chittorgarh)-Phase-II S.N. Date Cluster Block District Phase Participants Women Men Guest Total 01 22.09.17 Bassi HO. Chittorgarh Chittorgarh 2nd 41 09 10 60 02 18.12. 17 Rashmi HQ. Rashmi Chittorgarh 2nd 49 20 8 77 03 16.01.18 Bhaisrodgarh Bhaisrodgarh Chittorgarh 2nd 50 10 8 68 04 20.01.18 Aakola Bhupalsagar Chittorgarh 2nd 52 2 11 65 05 21.01.18 Keli Nimbahera Chittorgarh 2nd 66 6 6 78 06 24.01.18 Mewda Kapasan Chittorgarh 2nd 48 8 5 61 Colony 07 18.02.18 Boheda Bari sadri Chittorgarh 2nd 55 14 5 74 08 19.02.18 Sadas Gangrar Chittorgarh 2nd 77 6 8 91 09 24.02.18 Nandvai Bengu Chittorgarh 2nd 130 2 6 138 10 26.02.18 Bansen Bhadesar Chittorgarh 2nd 78 4 10 92 11 08.03.18 Moravan Dungla Chittorgarh 2nd 52 10 6 68 Total 698 91 83 872 Second Phase Trainings (Chittorgarh) There have been as many as 11 Gram Panchayat level cluster trainings under the first phase of training as prescribed in the project activities between September 2017 to March, 2018. All these cluster meetings covered all the topics as mentioned below. Besides, the resource persons also shared some facts and information about banking sector and financial literacy/inclusion and challenges faced by financial consumers. From Table 2, it is evident that 872 people have been benefited from the meetings, out of which 698 comprised women. Methodology and Topics Covered Firstly, financially needy and conscious women were identified and approached from remote villages before organising the workshop. These women were informed about the purpose of