Sanchayika (School Banking) Day (15th of September)

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Sanchayika Day, means school banking day, and It is observed every year on the 15th of September all over India. It is a day highlighting the importance of Sanchayika Banks—students’ banks, an initiative to make school kids learn about the art of saving money from early age.

The main purpose of this day is to promote the tendency of saving money among young school going children. The prime organizers of this day are: The Directorate of Small Savings, UT Chandigarh at the Girls Government College. In fact, even the National Savings Institute as well as the Chandigarh Centre have been a part of this much-needed movement. The fundamental way of following this event, in majority of the schools is by encouraging the principals as well as teachers to imbibe in the minds of students as well as their parents, the benefits of savings and why we must all learn to save from a very early stage, so that it turns out to be a great and helpful resource we have with us in the later stages of our lives as we grow up.

So far, if reports are to be believed then over 42 of total government schools have already indulged in this movement, while the numbers are surely rising, as awareness is spreading and more and more number of schools are willing to come forward to participate in this initiative. There are many government schools and students who have also been awarded and honoured for their active participation in the Sanchayika Scheme over all these years.

The Sanchayika Bank in this regard is a students’ bank, which not only helps kids learn about savings and its benefits, but also gives them a vivid overview of banking operations, in a more practical way, helping them learn about basic finances through practice from a very young age. In this case, these students either need to open a post office account or a bank account to participate in the Sanchayika Scheme.

Featured Image Source: elanorahts-p.schools.nsw.edu.au

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History of the Day

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