Students of Modern College, Pune, Teach People About Functioning of Banks
CHALLENGE
Many college students are unaware about the functioning of a bank. Even after getting a degree, they find it difficult to fill a slip in the bank. To help students build economic discipline and not panic while doing financial transactions, students of Young Inspirators Network (YIN) from Modern College, Ganeshkhind Road in Pune, have decided to train students with the help of ’Mock Banking.’ They have taken the challenge of enhancing business knowledge of students.
ACTION PLAN
Students of Commerce Department of the college have started work on educating students’ parents about financial transactions so that they can teach their children about the same. During vacations, the students travelled to villages and trained self-help groups and farmers. They spoke about the importance of insurance and gave training for becoming entrepreneurs. They also visited schools and taught bank transactions to students through mock banking. After Pune and adjoining areas, this initiative will be taken to other places as well.
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MENTOR
Dr. Sanjay Kharat
Dr. Sanjay Kharat, professor, Modern College
“Economic development is necessary for upliftment of society for which financial administration is important. The initiative of mock banking started by our students will help in making people financially literate. The college has helped students get help from bank officials for the same.” -
EXPERT
Vijaylaxmi Kulkarni
Vijaylaxmi Kulkarni, Principal
“Students should not be exam-oriented but knowledge-oriented and should use this knowledge for the benefit of the society. With this the concept of mock banking came forward. This initiative aims at students giving their banking knowledge to village students.” -
STUDENTS
Mayur Narkhede
Mayur Narkhede, TY Bcom, Modern College, Ganeshkhind Road.
“To make students financially able they must be given knowledge about the same from a very young age. With this the citizens will have an idea about bank transactions and how to manage their money.” -
Tabassum Shaikh
Tabassum Shaikh, TY, BCom, Modern College, Ganeshkhind Road.
“In the vacation, my friends and I explained bank transactions to construction workers, slums, hawkers, waiters among others. Now we will help them open bank accounts in their nearest banks.” -
Vaibhav Bhasme
Vaibhav Bhasme, TY BCom, Modern College, Ganeshkhind Road
“We executed the mock banking initiative in our college and will show it in other schools. In long vacations we will tell farmers of Akkalkot about government schemes.” -
Shankar Rathod
Shankar Rathod, TY BCom, Modern College, Ganeshkhind Road.
“Before starting this initiative, we made a list of people in our area who do not have bank accounts. Now we will work to open bank accounts for them and teach them bank transactions.”