Financial Literacy in Tripura: Progress on Paper, Challenges in Practice

Financial literacy is widely recognized as a cornerstone of inclusive economic development. The latest quarterly report on Financial Literacy Centres (FLCs) in Tripura indicates that banks have made considerable efforts to spread financial awareness across the state.

According to the report, 14 FLCs operated by various banks conducted 328 special literacy camps benefiting 9,283 participants, along with 414 target-group-specific camps reaching 12,246 participants during the period from April to December 2025.

Among the districts, branches under State Bank of India (SBI) and Punjab National Bank (PNB) recorded a significant number of camps and participants. The R-Seti Kumarghat FLC alone reported reaching over 2,700 participants in both special and target-group camps. Such figures suggest a commendable institutional effort to improve financial awareness among citizens.

However, despite these encouraging statistics, the ground reality raises important questions regarding the effectiveness of these initiatives. Observations from rural and semi-urban areas across Tripura reveal that a substantial section of the population still struggles with basic banking operations. Many account holders remain unable to independently fill up withdrawal forms, deposit slips, cheque requisition forms, or understand essential banking procedures. Elderly citizens, daily wage earners, small farmers, and women in remote villages often depend on bank staff, customer service points, or other individuals for routine transactions.

This gap between reported outreach and practical financial capability suggests that the success of financial literacy programmes should not be measured solely by the number of camps conducted or participants attended. True financial literacy is reflected when individuals can confidently manage their bank accounts, use digital payment systems, understand savings and loan products, and protect themselves from financial fraud.

Experts suggest that future literacy programmes should focus more on hands-on practical training rather than awareness lectures alone. Demonstrations on filling banking forms, using ATMs, operating mobile banking applications, conducting UPI transactions, and understanding basic financial rights should become mandatory components of every literacy camp. Periodic assessments may also be introduced to evaluate whether participants have actually acquired usable financial skills.

Furthermore, independent monitoring and impact evaluation mechanisms are needed to measure behavioural changes resulting from these programmes. Without such assessment, high participation figures may not necessarily translate into meaningful financial empowerment.

The achievements of Financial Literacy Centres in Tripura deserve recognition. Nevertheless, the ultimate objective should be to ensure that every citizen can independently perform basic banking transactions. Only then can financial literacy initiatives be considered truly successful and contribute effectively to financial inclusion and economic development in the state.