KalingaTV News Network
The pilot project will be commissioned in 84 blocks in 9 states including Odisha, Telangana, Andhra Pradesh, Chhattisgarh, Bihar, Maharashtra, Karnataka, Haryana and Uttar Pradesh by six NGOs in collaboration with sponsor banks.
The total cost of the pilot project over a period of three years is estimated as Rs 18.40 crore.
The CFL project aims to inculcate the habit of making a household budget and recording financial transactions, encouraging transactions in savings accounts and active saving by depositing in banks through fixed deposits and recurring deposits.