Agriculture forms the spine of Chhattisgarh's economy and the sector needs more money to strengthen itself, Minister of School Education and Cooperation Dr Premsai Singh Tekam said on Monday.
For better financial investment in agriculture, farmers need to be made aware of the banking systems, he told the inaugural session of the annual Financial Literacy Week (FLW) here.
Tekam spoke on “Credit Discipline and Credit from Formal Institutions” at the event organized by the Reserve Bank of India (RBI). The week will end on February 12. It is part of the strategic objectives of the National Strategy for Financial Education (2020-25).
He said there is a need to create awareness on how to take loans, timely repayment and safety measures during the use of digital banking systems, an official communication said.
Instructing the bank officials, the Minister said one should not stand for problems but be part of grievance redressal mechanisms. Everyone has to play their role with honesty.
The banking experts said the importance of credit for supporting the economy is well known.