ELECTRONIC BANKING AWARENESS AND TRAINING (e-BAAT) PROGRAM WAS ORGANIZED AT RAYBURN COLLEGE
Rayburn College: The Internal Quality Assurance Cell (IQAC) of Rayburn College in collaboration with Reserve Bank of India (RBI) Guwahati has organized an awareness program on “Electronic Banking Awareness and Training (e-BAAT)” on April 6, 2023 (Thursday) at 12:00 noon at Rayburn College Conference Hall.
The primary reason for conducting an E-BAAT program was to promote financial-related activities within the college campus that would benefit Rayburn College students and faculty members. Therefore, all faculty and all students participated in this program.
The main reason for the Reserve Bank of India’s (RBI) participation was that the RBI, as the first, supreme, and regulating authority of Indian banking, is committed to promoting the increased use of electronic payments by all segments of society in order to achieve a “cashless” economy. The RBI is an organization that is viewed by the public as a powerful body, but its exact role and responsibilities are not entirely clear to the public. In this e-BAAT event, RBI educates the public on what purpose the central bank serves in our country.
In this program, the CGM, RBI Guwahati, delivered the inaugural address and the welcome address was delivered by Rev. Dr. Khen P. Tombing, Rector of Rayburn College.
This was followed by e-BAAT session which was leaded by Shri Rakesh Kumar Ghosh, Assistant Manager, RBI Guwahati. In his speech, he lamented that, the RBI has been reaching out to the masses and educating them about the recent changes in the banking space. Conducted for the first time in Jamshedpur, the e-BAAT event saw overwhelming attendance of over 150 from the student community and the bankers of city.
On this occasion, Mr. Ghosh explained the various aspects of RBI and how it serves the different goals set for it including controlling inflation, providing a platform for economic development and improving the financial stability in the country. He emphasised the changes happening in the country and specifically in the banking space. He covered the emergence of payment banks and the issue of new banking licenses in detail.
Moreover, he pointed out the opportunities provided by the startups and how their scale of growth has been unprecedented. In the later part of the speech, he highlighted the importance of banks in ensuring that the environment was conducive for fostering of the entrepreneurial spirit focusing on the startup funding being carried out by commercial banks in India.
After this item, a question-and-answer session was subsequently conducted, during which the speaker fielded questions from the college’s students and faculty about the policy changes made by the central bank.
It was also followed by a quiz session for school students and prize distribution to the quiz winners.
After all these program items, the program was concluded with a vote of thanks from the organizer.
