# Financial Literacy Awareness

70-75% people in India are financially illiterate. And as a result, only 8-10% people trust and invest in mutual funds, 300-400% rise in financial frauds, 31% above 60 years of age have running EMIs, 70% donate have life or medical insurance and so on.
Lack of financial knowledge leads to financial instability and financial anxiety at individual level and hinders the country economic growth at collective level.
Similarly, 70-80% of truckers and their families (Drivers and cleaners), suffers a lot because of poor income, financial insecurity, risk of life and poor financial knowledge. We are concerned for them as they are the life line of our road freight industry and contribute 14-15% to India GDP and manages 70% of freight.

What We Do

Financial Literacy Awareness + Allied Services (FLA) program provide financial consultation to truck drivers, cleaners, mechanics (Commercial Vehicle Crew Membersa, CVCM) and their family members. Program is implemented in villages, public schools and places with high concentration of truckers like parking plots, highways etc. We aim to bring change in financial behaviour for saving & investments practices, instilling need for insurance and planning for retirement among CVCM.
Truckers being mobile and difficult to track, we strategically include fleet owners to push best financial practices at institutional level like mandatory health insurance; and women and children of truckers at home to influence family financial decisions with right information. In addition to financial literacy awareness, we also facilitate linkage of governmentschemes particularly life and medical insurance and pension plans.

Onsite Training

Onsite FLA training is delivered at Garage, Highways, Parking Plots, Dhaba etc.

Demonstration

Live demonstration is done to help truckers get confidence in adopting practices.

Handholding

Processes like digital banking is explained patiently for easy behavior transition.

Entitlement

Facilitation for required documentation and registration to avail various govt. schemes

Follow Up

Regular follow up for sustainability of newly adopted financial practices.
Impact Image

Coverage & Impact

  • 100000 + Truckers, their family and other community members have been trained.
  • 50000 + truckers and family members learned digital and other banking services.
  • 25000 + beneficiaries have availed insurance, pension plans and other govt. schemes.
  • 20000 + Beneficiary have started saving and financial planning
Location Icon 50+ Villages in Gujarat and MP

Success Stories

Kamlesh
“While working as a truck driver, I did not know financial planning unless I met PRAYAS Team...”
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Ajabai
“Instead of working for someone else, I started my own business of wafers
...”
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Rajesh
“Rajesh lost his life at very young age, and his parents were clueless of his provided fund...”
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