As part of the Financial Literacy Week from 13th to 17th February 2023, the Department of Economics & Banking organized a field trip for the Banking students of FY and TY B.Com, to RBI, Panaji on 16th February 2023 from 10:00 a.m. to 01:30 p.m. The students were accompanied by the Head of the Department, Dr. Lira M. Gama, along with Asst. Prof. Ms. Pretty Pereira and Asst. Prof. Ms. Lizette D’Costa of the Department of Economics & Banking.
A team of five RBI officials comprising Ms. Sandra Rodrigues, Mr. Cassian Gomes, Mr. Nimish Raje, Mr. Clint Joseph, and Mr. Praful Thakur, briefed the students on various important topics related to banking.
At the outset, Ms. Sandra Rodrigues welcomed the students and teachers present and introduced the team and the schedule of the session. Mr. Cassian Gomes commenced the session by emphasizing the significance of being financially literate. He spoke about RBI and its main duty, that of regulating all the banks encompassing nationalized banks, private sector banks, and cooperative banks. He stressed how people should know where and how to save and invest. Mr. Gomes encouraged students to visit the website of ‘National Centre for Financial Education (NCFE)’ which is an e-learning management system and covers various topics on banking. He also displayed the operation of this site to the students. He further spoke on matters like currency chests, soiled and mutilated notes, retention limits of banks, etc. Mr. Clint Joseph addressed the topic of complaint redressal mechanisms wherein he skilfully covered various issues like complaint exclusion lists, dealing with fraudulent/ failed transactions, safe digital banking practices, and the modus operandi of financial fraud. Mr. Praful Thakur and Mr. Nimish Raje jointly spoke on printing of currency and coins, calculation of bank rates, the essence of the monetary policy committee, mandates, investment avenues, schemes, exams, qualifications required, pay scales, important sites like IBPS, careers, etc. This was followed by an interactive session wherein students posed many questions to the officials and clarified many of their doubts.
The session ended at 01:30 p.m. with lunch provided by the RBI office to the students and teachers present. A total of 40 students attended the field trip.
