Financial Literacy Centres (FLCs)

Reserve Bank of India, vide Circular dated 4th February 2009, advised all banks to set up Financial Literacy Centres (FLCs) in their Lead Districts. The broad objective of the FLCs is to provide free financial literacy and credit counselling to all segments of the society. FLCs create financial awareness on various financial products including deposit, loan insurance and digital products which enables general public to have better financial planning and help them inculcate the habit of financial prudence.

With the main objective of imparting financial literacy and facilitating effective use of financial services by the common man, SBI has set up 341 FINANCIAL Literacy Centres (FLCs) across 28 states and 6 UTs. These FLCs are functioning from LDM Offices, branches and RSETIs and other premises. Retired JMG-I and above officials from any Scheduled Commercial Bank including RRB have been engaged as Counsellors of these Financial Literacy Centres.