Sunday, June 24, 2018

School students save Tk 1400cr in banks

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The amount of money deposited by school students in different banks is increasing. So far school students have saved 1441 crore taka in banks according a report from Bangladesh Bank's Fina-ncial Inclusion Depart-ment with data updated till March this year.

Bangladesh Bank's report shows that 14 lakh 61 thousand 860 students transact money through banks at present. School students in urban areas save more money than rural pupils, while boys are ahead of girls in this regard.

Bangladesh Bank's former Governor Dr. Atiur Rahman introduced school banking during 2010. Initially students opened bank accounts with only 10 taka while later on 100 taka was deposited by each student for opening accounts.

Dr. Atiur Rahman told media, "We launched the project of school banking in 2010 to build up saving habit among school pupils. This has been playing vital roles for expanding financial inclusion." Students aged from 11 to 18 years from class six to twelve can open joint bank accounts with their parents or legal guardians.

Bangladesh Bank has in the meantime held school banking conferences in the divisional towns with different banks to encourage more students to save money in this way. The commercial banks are also showing high eagerness to carry on this program.

Reportedly 9 lakh 936 school students have saved 1 thousand 229 crore taka in the country's private banks. On the other hand, 4 lakh 28 thousand students have saved 165 crore taka in state-owned banks.  

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