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'Bal Vikas Khazana': A Bank Catering To Children, By Children, Runs In Slums Of Jharkhand
Writer: Tashafi Nazir
For most people, journalism sounds hectic and chaotic. For her, it's a passion she has been chasing for years. With an extensive media background, Tashafi believes in putting efforts on presenting a simple incident in the most interesting way.
Jharkhand, 6 Nov 2021 10:14 AM GMT | Updated 6 Nov 2021 10:16 AM GMT
Editor : Palak Agrawal |
Palak a journalism graduate believes in simplifying the complicated and writing about the extraordinary lives of ordinary people. She calls herself a " hodophile" or in layman words- a person who loves to travel.
Creatives : Tashafi Nazir
For most people, journalism sounds hectic and chaotic. For her, it's a passion she has been chasing for years. With an extensive media background, Tashafi believes in putting efforts on presenting a simple incident in the most interesting way.
Kids can open their accounts in the bank by depositing a minimum amount of Rs 2. With 600 account holders currently, it aims to inculcate democratic values, impart skills on managing finances and inculcate the habit of saving in kids.
A bank, by the children and for the children, has started functioning in the slums of Ranchi and Khunti in Jharkhand. 'Bal Vikas Khazana' has more than 600 account holders to its credit and is managed by children between 8-18 years of age. Khazana aims to inculcate democratic values, impart skills on managing finances and inculcate the habit of saving in kids.
Launching the bank, Chandan Singh, the founder member of Pratigya Trust, said that Bal Vikas Khazana aims to convey democratic values, social education, and life-skills, be it emotional, social, or ethical learning, The New Indian Express reported.
"Our goal goes along the lines of WHO guidelines, which includes financial education among 10 different trades," said Singh.
As per reports, children who were earlier battling substance addiction are account holders with this bank. Kids can open their accounts in Khazana Bank by depositing a minimum amount of Rs 2. After the bank account is created, they are provided with a passbook along with their photograph.
Small Savings Beneficial For Children
Bank manager Renuka Kumari said that the pocket money children get at home or the amount received from relatives on special occasions is deposited in Khazana. The habit of small savings from childhood proves to be very helpful to the kids.
Muskan Kumari, an 8th standard student from Jagannathpur said she has been selected as Assistant Child Volunteer Manager (ACVM) by the kids and supports the Child Volunteer Manager (CVM) in maintaining the ledger and cash book.
CVM Anjali Kumari explained that the kids have to mention the source from where they received the amount. When the deposit or withdrawal goes beyond Rs 200, children have to give an application citing reasons for the transaction.
"Children also get 10 per cent interest per annum on their deposits, and may get interest free advance (loan) for education purposes or even starting a business on their own," said Anjali.
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