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Central Board of Secondary Education (CBSE) has launched a project-School bank Champs- wherein students will interact with bank authorities and open bank accounts, get debit cards and manage their own finances, learn net banking etc. in order to be more financially independent.
Through the project, CBSE aims to make school students financially literate to maintain finances effectively in their everyday life. The project will be launched for students at school level in class X to XII.
The project has been rolled out by the bank Association of India in collaboration with Child and Youth Finance International, which is the world's largest movement dedicated to enhance financial capabilities of children and youth.
The project aims to provide financial education and access to financial products to students.
CBSE in a recent circular has asked all its affiliated schools to identify the nearest bank for everyday interaction in enhancing financial knowledge apart from opening their bank accounts and issue of debit cards and provide awareness about pension plans, insurance plans etc.
“The project also will teach students various domains like my savings, our club, our financial management, our community, our enterprise and my life goals.”
Students are excited about having their own bank accounts. “I am very excited that I will get ATM card and in which I will put my pocket money," said Nisha a class X student.
“We are happy that we will know how banks work and how we are supposed to make transactions and we will save money for the future,” said Rita Stood another student.