Students set to get banking lessons TNN, Mar 23, 2010,

BANGALORE: The RBI governor has called for the need to promote financial literacy.

At the launch of a project on financial literacy in Karnataka, Dr D Subbarao said: "On the occasion of RBI's platinum jubilee, we have initiated a project for promoting financial literacy among students through formal and non-formal education. This knowledge in banking will help students understand the significance of saving, decision-making, investment and employment."

Students of classes 5 to 9 will have to study banking, role of RBI and other financial information; the same will be included in the school syllabus from this year.

The RBI released a comic series, in both English and Kannada, to promote financial literacy. The Electronic Benefit Transfer Scheme (EBTS) was launched for greater banking access in rural areas.