BWI: IIFL to embark on a Major Financial Literacy Drive, FLAME

Press release from Business Wire India
Source: IIFL (India Infoline Ltd)
Saturday, February 19, 2011 02:02 PM IST (08:32 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Information technology; Technology
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IIFL to embark on a Major Financial Literacy Drive, FLAME


Mumbai, Maharashtra, India, Saturday, February 19, 2011 -- (Business Wire India) -- -- FLAME, IIFLs unique CSR initiative to reach out to millions across improve financial literacy across more than 1,000 cities across India
-- FLAME will comprise inter alia a comprehensive mass media campaign, a dedicated online portal, a helpline, ground level financial awareness workshops across the country, connecting with students at B-schools and other colleges, books and publications and deploying training via expert sessions on financial literacy

IIFL (India Infoline) Group, one of the largest homegrown integrated financial services provider, as a part of its Corporate Social Responsibility initiative, today announced the launch of the largest and most comprehensive financial education and awareness initiative, FLAME - Financial Literacy Agenda for Mass Empowerment.

FLAME was launched by Dr K C Chakrabarty, the Deputy Governor, Reserve Bank of India (RBI) and Mr Deepak S Parekh, Non- Executive Chairman, HDFC at a function attended by the leading luminaries from the financial service space.

FLAME is unique, ambitious and gigantic, considering its vast scope and the wide-spread reach it would have across India, which is considered amongst the top two fast-growing economies in the world. The initiative, Financial Literacy Agenda for Mass Empowerment, aims to light the flame of financial literacy cutting across varied income groups in India.

Speaking in the occasion of launch of FLAME, Mr Deepak Parekh noted: "A precondition for financial sector deepening is the existence of a large number of financially literate households. India cannot grow at a sustained high pace without greater financial inclusion and hence a significant investment in financial literacy is no longer a policy option, but a compulsion."

Mr. Nirmal Jain, Chairman, India Infoline Limited said: "I am very excited with this new initiative to dispel the darkness of financial illiteracy in India. We shall leverage our network of 3000 locations, 15000 employees and 1 million customers across the country to reach out to small towns as well as under-privileged sections of society as well. Besides, our cause requires efforts in large cities and with educated workers also. We have set aside a budget of Rs25Crs, in addition to efforts of a crack team of 500 from team IIFL. Senior people including myself and crack team will dedicate at least 120 manhours for this initiative in the next financial year."
As a part of the FLAME initiative, IIFL has planned an elaborate set of activities -

a. Financial awareness workshops across 1000 cities in India -

As a part of this initiative, IIFL will hold financial awareness workshops at over 1,000 locations across India. These free workshops will be held across the country, including Tier II and Tier III cities where our expert speakers will spread financial literacy

b. A comprehensive mass media campaign -

This will be a huge campaign which will feature in the print media and will reach out to investors across the country. The idea is to convey the various concepts which are a part of the literacy drive through easy-to-grasp way e.g. Our first campaign uses cartoon illustrations which will make it far easier for people to understand the various concepts explained therein.

c. Books and publications -

Multiple publications are planned which would seek to highlight the various concepts of finance as a part of this initiative. These publications will be given out at the workshops which will be held across the country.

d. Financial awareness helpline -
IIFL will setup a helpline, in own call center, where anyone can call up and get answers
to their queries pertaining to financial services. This helpline will be manned by
IIFL's trained professionals who will provide a solution to such queries.

e. FLAME portal - www.flame.org.in

www.flame.org.in, is a portal dedicated to the cause of spreading financial literacy. This portal will carry all the concepts of financial literacy and
awareness and will also be equipped with innovative features like 'chat with a FLAME-bearer' where users can direct their queries to IIFL's financial experts for resolution

f. Tie-ups with educations institutes-

IIFL will tie-up with educational institutes including B - Schools across the country to deliver guest lectures. The objective of this is to educate the investors of tomorrow, today.

g. Leaderspeak -

These will be financial awareness workshops where we will get industry luminaries to interact with the audience to explain the various concept of the field of finance.

About IIFL (India Infoline Ltd)

IIFL, comprising the holding company, India Infoline Ltd (Bloomberg: IIFL, NSE: INDIAINFO, BSE: 532636) and its subsidiaries, is one of the leading players in the Indian financial services space. IIFL offers advice and execution platform for the entire range of financial services covering products ranging from Equities and derivatives, Commodities, Wealth management, Asset management, Insurance, Fixed deposits, Loans, Investment Banking, GoI bonds and other small savings instruments. It owns and manages the website, www.indiainfoline.com, which is one of India's leading online destinations for personal finance, stock markets, economy and business.

IIFL has been awarded the 'Best Broker, India' by FinanceAsia and the 'Most improved brokerage, India' in the AsiaMoney polls. IIFL was also adjudged as ''Fastest Growing Equity Broking House - Large firms' by Dun & Bradstreet. A forerunner in the field of equity research, IIFL's research is acknowledged by none other than Forbes as 'Best of the Web' and '.a must read for investors in Asia'. IIFL's research is available not just over the Internet but also on international wire services like Bloomberg, Thomson First Call and Internet Securities where it is amongst one of the most read Indian brokers.

A network of over 2,700 business locations spread over more than 450 cities and towns across India facilitates the smooth acquisition and servicing of a large customer base. All our offices are connected with the corporate office in Mumbai with cutting edge networking technology. The group caters to a customer base of about a million customers, over a variety of mediums viz. online, over the phone and at our branches.
IIFL/ India Infoline refers to India Infoline Ltd and its group companies.

To view the photograph, please click on the link given below:

(From Left to right Mr. Nirmal Jain, Chairman, India Infoline, Mr. Deepak Parekh, Chairman, HDFC, Dr. K. C. Chakrabarty, Deputy Governor, RBI at the launch of FLAME (Financial Literacy Agenda for Mass Empowerment)
For picture(s)/data to illustrate this release click below:

http://www.BusinessWireIndia.com/attachments/1(51).JPG
(From Left to right Mr. Nirmal Jain, Chairman, India Infoline, Mr. Deepak Parekh, Chairman, HDFC, Dr. K. C. Chakrabarty, Deputy Governor, RBI at the launch of FLAME (Financial Literacy Agenda for Mass Empowerment)


CONTACT DETAILS
Ms. Nikita Amlekar, Corporate Communications, India Infoline Ltd, +91 9004663042, nikita.amlekar@indiainfoline.com
Ms. Shveta Singh, Sampark PR, +91 (22) 40425551/ +91) 9967660488, shveta.singh@sampark.com

KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, IT, TECHNOLOGY

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