From the days of earthen pots to save coins to the immensely popular kiddy banks with combination lock system, the concept of savings has evolved over the years.
With financial institutions stretching their service to the minors through net banking concept, some have come up with innovative ideas to inculcate the habit of savings among students. One such establishment is the Department of Posts where a month-long campaign on ‘awareness on post office savings account’ has been initiated.
The revamped India Post has pulled up its socks to conduct a special campaign and induce the idea of savings among schoolchildren.
It has plans to approach 40 schools across the city and make the students understand the relevance of saving for the rainy day.
The campaign, designed with a PowerPoint presentation, has so far touched 900 savings accounts roping in students from Class VIII to X from various schools.
“Surprisingly, students are drawn towards the concept and show keen interest in opening an account as the minimum balance required is Rs.50.
And with the present interest rate of 8.3 per cent on recurring deposit and four per cent on savings, they don’t think twice to do so,” Inspector of Department of Posts P. Sravan Kumar explains.
Students were taught on how easy it was to splurge and how little savings started at an early age help in times of need.
Sravan says, “It is a social responsibility to help the present generation understand the value of money and encourage them to manage their finances at a young age. This guides them to be accountable for every penny they spend.”
For the Department of Posts, the association with the student community was just a beginning. “Though the on-going drive concludes on November 30, the quest to reach out to diverse communities will continue,” says Inspector of Department of Posts A. Madhuri.
