Banking on the New-Gen

Financial Skills are indispensible to navigate through life. And with every new generation growing up a lot faster than the last, a basic understanding of financial literacy is crucial to students as well, so that they can identify sources of income, recognize the importance of money in society and understand the role of the banking system.

In keeping with the same, Class X students of G K Marg School were facilitated with their very first, hands-on experience of roles and operations of the banking system. The programme was organized on the 19th of OCtober at ING VYSYA Bank (now KOTAK) at Nariman Point. Branch Manager, Saket Tripathy, started with a brief history of the banking system, its genesis in Italy 700 years ago and how it has evolved today.

Mr. Tripathy shared valuable information on the importance of savings, time value of money, cash counting machines, how to identify counterfeit currency, ATM and Locker facilities in banks, importance of technology in modern banking and career opportunities in banking. The students were also addressed by Rotarian Vandan Shah who explained the concept of Education Loans and their criteria. The event was attended by twenty-eight students who were looking forward to attend more such sessions in the future. They were surprised and excited when the bank gifted each of them the rarely seen one Rupee note!