RBI proposes to assess impact of its financial literacy campaigns; invites request for proposal

The Reserve Bank of India (RBI) is proposing to assess the impact of the multi-media awareness campaigns launched by it to promote financial literacy and also safe banking practices.

The RBI runs the ‘RBI Kehta Hai’ campaign to educate and empower the public about banking regulations, and also to make them aware of good and safe banking practices. It was a multi-media multi-lingual campaign using SMSes, print, television channels, radio, hoardings, websites and social media.

Inviting the request for proposal (RFP) from certain shortlisted entities, the RBI said they would be required to undertake outcome and impact assessment of its multilingual, pan-India public awareness campaigns.

The RBI campaigns are in 14 languages — Assamese, Bengali, English, Gujarati, Hindi, Kannada, Malayalam, Marathi, Odia, Punjabi, Sindhi, Tamil, Telugu and Urdu with more focus on regional languages.

”Therefore, it is incumbent on the part of the empanelled entity to cover the 14 languages given above for the proposed outcome/ impact assessment of the public awareness campaigns of RBI.

”Campaigns conducted during the year preceding the assessment and during the term of the assessment will be a part of the scope,” the said RFP document.

As per the document, the selected entity will be required to customise the tools for study, pre-testing of the tools and incorporate changes if required, to modify a questionnaire, focussed group discussion (FGDs) guideline, depth interview schedules when needed, to conduct training of data collectors/surveyors, to carry out survey and share monthly progress report, to analyse results and prepare draft and final report.

Some of the key areas that need to be in the questionnaire include the ‘ability to recall the campaigns’, media on which the campaigns were viewed, ‘whether the campaigns added information that was not known earlier’, and ‘whether any action was taken based on the information from the campaigns’.

The RBI or the central bank regulates the issue and supply of the Indian rupee, is the bank of banks, bank of the Government of India as well as of state governments and also regulates the banking sector.

Consumer protection through financial literacy and awareness is also an important function of the Reserve Bank of India.

‘RBI Kehta Hai’ is a multi-media multilingual campaign, which disseminates information to the public using mass media, namely, SMSes, print, television channels, radio, hoardings, websites and social media.