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Lack of financial literacy among public is the root cause for them falling prey to fraudsters, according to S Ravindran, Chairman of the Dharwad-headquartered Karnataka Vikas Grameen Bank (KVGB).
He said this after inaugurating a financial literacy camp organised by the National Payments Corporation of India, National Bank for Agriculture and Rural Development (Nabard) and KVGB in Dharwad on Thursday.
He said that it is important to focus on financial literacy initiatives for school children.
He added that the bank has initiated several measures to impart elementary banking fundamentals to students. Electronic mode of payment in day-to-day activities is also encouraged.
Stating that financial literacy is a prerequisite for effective financial inclusion, he said the bank has opened financial literacy centres. Those interested can seek the help of these centres in different parts of Dharwad district.
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