RBI proposes to evaluate the impact of its multimedia campaigns on financial literacy
The Reserve Bank of India (RBI) proposes to assess the impact of the multimedia awareness campaigns it has launched to promote financial literacy as well as safe banking practices.
The RBI organizes the “RBI Kehta Hai” campaign to educate and empower the public on banking regulations, as well as raise awareness about sound and safe banking practices. It was a multilingual multimedia campaign using SMS, print media, TV channels, radio, billboards, websites and social media.
Inviting Request for Proposals (RFPs) from some shortlisted entities, the RBI said they would be required to undertake an evaluation of the results and impact of its multi-language and pan-India public awareness campaigns.
RBI campaigns are in 14 languages – Assamese, Bengali, English, Gujarati, Hindi, Kannada, Malayalam, Marathi, Odia, Punjabi, Sindhi, Tamil, Telugu and Urdu, with a particular focus on regional languages.
“Therefore, it is incumbent on the incorporated entity to cover the 14 languages listed above for the proposed assessment of the results/impacts of RBI’s public awareness campaigns.
“Campaigns conducted in the year prior to the evaluation and during the duration of the evaluation will be part of the scope,” the RFP document states.
As per the document, the selected entity will be required to customize the survey tools, pre-test the tools and incorporate changes if necessary, modify a questionnaire, focus group discussion guidelines (FGD), in-depth interview programs if necessary, to organize the training of data collectors / interviewers, to conduct a survey and share the monthly progress report, to analyze the results and prepare the draft and the final report.
Some of the key areas that should be on the questionnaire include “ability to recall campaigns”, which media the campaigns were viewed on, “whether the campaigns added information that was not previously known” and “whether action was taken based on information from the campaigns”.
The RBI or the central bank regulates the issuance and supply of the Indian rupee, is the bank of banks, the bank of the Indian government as well as 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 multilingual multimedia campaign, which disseminates information to the public using mass media, namely SMS, print media, TV channels, radio, billboards, websites and social media.