RBI Depositor Education and Awareness (DEA) Fund

OVERVIEW

VOICE Society is one of the few organizations chosen by RBI, India under the RBI Depositor Education and Awareness (DEA) Fund, to educate Indian consumers on the potential security threats of online banking and other possible protection issues which consumer faces on daily basis while using various banking products and services. The workshops will continue for a period of 1 year between 2017 and 18, targeting both urban and rural consumers and women & semi-literate individuals as well.

CAMPAIGN FOCUS

  • To educate consumers so that they effectively use the opportunities provided by digitally empowered knowledge economy.
  • To empower the vulnerable consumers against the protection threats that online banking brings with itself.

CHALLENGES

Though the number of smart phone users is all set to cross 300 million by the end of 2017 (report by Internet and Mobile Association of India or IAMAI and consultancy firm KPMG), many especially the vulnerable section of the society are not aware of its use especially when it comes to digital banking or availing of essential services of the government. Making consumers digitally literate and empowering them to use the internet and mobile safely and urging them to make the gradual shift from offline to online for most of their daily transactions and activities is a humongous task.

IMPACT

THE TAKEAWAYS INCLUDE:

  • Educated on digital economy and basics of online banking.
  • Discouraged from keeping their money in illegal non-bank entities.
  • Enlightened about the rights of a bank’s customer.
  • Understanding the latest KYC (Know Your Customer) requirements.
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