A children’s bank popularly known as Gullak Baccha Bank operated at Kilkari Bal Bhawan in Saidpur, Patna is developing saving skills in children and also linking them with banking at a young age.
Set up by Bihar Chief Minister Nitish Kumar on November 14, 2009, the bank in the year 2017 made a record of Rs 58 lakh worth of transactions, the highest by any bank managed by children in the country, enabling it to apply for an entry in the Limca Book of Records.
The child bank is operated for children to save money by depositing the minimum amount in the bank. It is run by children itself. A total of Rs 74,89,00 have been transacted from the bank so far and the total number of running accounts is 3,855. In 2019-20, the total deposits are Rs 1,29,000, while the bank has a total of Rs 6,70,000. Children can transact from the bank as per their requirements.
A child can deposit 1-10 rupees. The deputy manager of the bank is Poonam Kumari and the manager is Vishnu Kumar. These children take over for one year. The bank timing is from 10 am to 5 pm.
Vinay Mishra, Accounts Officer of the Bank said, “I look at children’s transactions. After they complete their job, I check the account every day so that there is no mistake.”
The bank also pays 4 percent interest on children’s deposits at the end of the financial year. Moreover, at the end of the year, the children’s account is paid as interest for incentives from Kilkari on a deposit of Rs. 500 or more. For these tasks, children can use the money deposited in the bank to study, collaborate in household chores, sickness, or personal work. Most of the children from the bank are so far able to withdraw money for studies.
