Four public sector banks to help India become literate

New Delhi, Nov 26 ( Four public sector banks – Union Bank of India, State Bank of India, Punjab National Bank and Indian Bank – Thursday signed an agreement to help the Human Resource Development Ministry implement a Rs.60 billion literacy mission.

The agreement aims at transparency, delivery and online monitoring of just-in-time fund flow and proper utilisation of the “Sakshar Bharat” (Literate India) fund.

A new mission to make people of 365 underdeveloped districts literate was launched by Prime Minister Manmohan Singh earlier this year. The HRD ministry aims to spend Rs.60 billion for this purpose.

Monetary expenditure plans from 167 districts of 19 states have already been received by the ministry.