IEPFA & IPPB to launch Phase 2 of Niveshak Didi Initative
Banking and Finance
4 min read
The Investor Education and Protection Fund Authority (IEPFA) and the India Post Payments Bank (IPPB) have signed an agreement in New Delhi to launch the second phase of the Niveshak Didi initiative in the country to boost financial literacy amongst rural women.
The first phase of the Niveshak didi was launched in the financial year 2022-23.
Who is Niveshak Didi?
- Niveshak didi is a trained female dakiya (women postal workers) of the India Post, which owns the India Post Payment Bank.
- Niveshak didi are trained to educate the targeted female population to develop adequate knowledge, skills, attitude, and behaviour, which are needed to manage their money better and plan for their future.
- Knowledge about money and its management is also known as financial literacy.
Aim of Phase -2 of the Niveshak Didi Initiative
- The focus will be on women in rural, semi-urban, and underserved areas.
- Women in these areas will be taught about responsible investing, fraud awareness, savings habits, and digital banking tools by Niveshak Didi..
- Over 4,000 financial literacy camps will be organised across India.
- These camps will be led by almost 40,000 trained Niveshak Didis.
About India Post Payment Bank (IPPB)
The India Post Payment Bank (IPPB) was set up by the Department of Posts under the Union Ministry of Communications.
IPPB was launched as a pilot project on 30 January 2017 in Ranchi (Jharkhand) and Raipur (Chhattisgarh).
It was formally launched on 1 September 2018 by Prime Minister Narendra Modi.
Being a payment bank, it is regulated by the Reserve Bank of India.
Headquarters: New Delhi
Punchline of the Bank: Apka Bank Apke Dwar
MD and CEO- R Viswesvaran
Investor Education and Protection Fund Authority (IEPFA)
It is a statutory body set up by the Government of India on 7 September 2016 under the Companies Act 2013.
It comes under the Union Ministry of Corporate Affairs.
Function
It administers the Investor Education and Protection Fund that was set up in 1999 under the Companies Act 1956.
The main aim of the Investor Education and Protection Fund is to promote investors’ awareness and protection of the interests of investors.
Here, investor means those who have invested in companies shares, debentures, fixed deposits, etc.
