Ujjivan Small Finance Bank stubs out fiscal ignorance on ‘World no tobacco day’

Ujjivan Small Finance Bank has launched a campaign to drive awareness amongst individuals to make healthier physical and fiscal choices. This initiative has been created to coincide with ‘World No Tobacco’ day, which falls on 31 May.

In 2023, a KPMG survey found that 49% of young Indian adults, aged between 20 to 44 years, consume tobacco in various forms. Tobacco abuse also causes 9.5% of deaths amongst Indians annually, and the direct medical costs totalled 5% of India's health expenditures in 2017–2018.

Ujjivan Small Finance Bank’s initiative endeavours to capture people's attention when they least expect it. To ensure that the message reaches the right audience, it will distribute creatively designed lookalike cigarette boxes in high-footfall smoking zones, like corporate offices, malls, and thoroughfares.

Each cigarette pack is designed with the message ‘Healthy habit to save more’. Additionally, the cards within the boxes will encourage people to explore options like opening savings and fixed deposit to secure their fiscal health, in addition to making the right lifestyle choices to safeguard their physical wellbeing.

Many investors, especially young people, feel overwhelmed by the sheer volume of information available when it comes to making and handling their investments and many do this without professional guidance. This shift away from seeking traditional financial advice is partly due to a longstanding mistrust of financial advisers, fuelled by concerns that they prioritise their own commissions over their clients' best interests. This sentiment has only been amplified by negative portrayals of financial advisers on social media, particularly with the emergence of influencers in the finance space.

Market research conducted by Max Life Insurance in partnership with Kantar reveals a concerning disparity in financial literacy and access to protection between tier-one and tier-two cities in the country. While tier-one cities score 45 points on the protection quotient, tier-two regions lag significantly behind at just 36 points.

To bridge this gap, there's a pressing need for targeted initiatives and educational campaigns tailored to tier-two audiences. This involves leveraging more accessible media channels and simplifying the process of acquiring life insurance products online. By implementing these strategies, individuals in smaller urban centers can feel empowered to make informed decisions about their financial futures.

Lakshman Velayutham, chief marketing officer of Ujjivan Small Finance Bank, said, "This initiative is about presenting another solutions to people. While they are aware, we are trying to serve a reminder with choices that they could possibly make… without stepping into their personal space.”

The three-day campaign started from May 29 and will cover over 100 urban and semi-urban locations across 30 Indian cities. These include Mumbai, Pune, Kolkata, Jamshedpur, Hyderabad, Assam, Bhubaneswar, Patna, Ghaziabad, Noida, Delhi and Bengaluru.