Excelsior Correspondent
UDHAMPUR, June 27: One-day School Level Awareness Programme on Financial Literacy was organized by Manohar Lal, DDM, NABARD, Udhampur at Government Higher Secondary School, Panchari, here today.
The objective of the programme was to generate awareness about Financial Literacy among the school children especially classes X, XI and XII.
The programme was attended by Pawan Salathia, Principal of the School, besides staff members and students of classes X, XI and XII.
DDM, NABARD informed the participants that the Government of India has initiated the process of Direct Benefit Transfer (DBT) under which most of the subsidies would be given in cash and would be transferred in the bank accounts of the heads of respective families. Therefore, all rural households must have a saving account with the banks. The children were asked to spread this message in their respective families and also among the nearby households so that all households are covered under financial inclusion.
The children were also explained that the savings, except savings to meet emergency needs, of all households should be kept in the banks in the form of fixed or savings deposits as the same do not earn any interest if kept as idle savings at homes. They were informed that such savings kept at home as idle funds lose their value in view of the inflation.
DDM gave an account of the various types of bank accounts such as Savings Bank Accounts, Recurring Deposit, Fixed Deposit, etc.
They were also explained various schemes being implemented by the banks for the benefit of the children such as Education Loans, various savings schemes, etc. They were also informed about the JK Special Scholarship Scheme being implemented especially for the students pursuing studies after 12th class in other states.
A quiz competition was also organized by the DDM, NABARD for the children and prizes were distributed among the students. Meritorious students and the students who excelled in sports were also given away prizes.
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