Garrepalli ZPHS launches children’s bank
Peddapalli: Teachers of Garrepalli ZPHS in the district have come up with a new idea to impart financial discipline and awareness on banking activities right from the school level.
They have set up the School Bank of Garrepalli (SBG) with the students so that they can save the money given by their parents for future needs instead of spending it. The students work as bank employees and have created an opportunity for them to manage the bank for themselves.
Principal V Kavitha’s idea has been implemented by social teacher P Venkatesh and N Ashalatha. The children themselves are acting as managers, assistant managers and customers for banking services.
Thers is one manager, one assistant manager, three are cashiers, another three are accountants, two are clerks and four are help desk staff.
Students who are account holders are given a special passbook and account number. Students deposit the money they bring from home in their bank accounts without spending it immediately.
When necessary, they bring the passbook, fill out a debit voucher and withdraw the money as needed.
The bank’s working hours have been determined so as not to disrupt teaching. The bank opens at 8:30 am before the start of school and closes at 9 am.
It opens from 12:30 pm to 1:15 pm. It opens again after school, i.e. after 4:15 pm. Students can use banking services only during these times.
Garrepalli Students’ Bank has 207 students as account holders.
Parents say that it is a great thing to train students towards financial discipline from childhood, besides teaching academics in schools.
A student’s mother told The Hans India that the idea taken by the teaching team to create awareness among the students about financial discipline is very beneficial for the children and it is commendable to set up a bank so that they can think about how to move forward keeping in mind their future financial needs.
Union Minister Bandi Sanjay Kumar, Minister for IT, Industries and Legislative Affairs Duddilla Sridhar Babu and Peddapelli District Collector congratulated the school faculty and the children after learning about the bank run by the students.
