National Bank for Agriculture and Rural Development (NABARD) launched financial literacy and awareness programme (FLAP) to create awareness among the financially excluded people in rural areas.
FLAP aims to create awareness on various schemes like Prime Minister Suraskha Bima Yojana, Prime Minister Jeevan Jyoti Bima Yojana and Atal Pension Yojana. During the programme, people in rural areas would be taught on savings, credit, remittance, insurance and pension.
Karnataka State Finance Corporation has launched low interest rate schemes for rural youth’s starting their first Generation business. For SC/ST 4% per annum and for General 8% per annum.
Swatha Bheema Yojan, Jan-Dan Yojan and National Pension Schemes were launched.
Under the FLAP, special emphasis would be given on Atal Pension Yojana (a pension scheme) that guarantees a fixed monthly pension after turning 60 years.