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Ludhiana: Piggy banks help slum children dream high
At least 2,000 slum children in the city are becoming self-reliant through the 'piggy bank project', which encourages them to save money for higher education. The project, initiated by the Nobel Foundation, has helped families survive during the lockdown. Students have saved up to ₹12,000 per year and receive extra marks in exams for saving money. Some students aspire to be doctors and police officers.
At least 2,000 children from slum areas in the city are becoming self-reliant, hoping to pursue higher studies and realising their dreams, thanks to the ‘piggy bank project’ that encouraged them to save small amounts of money which now has accumulated into a big sum.
The project was initiated by the Nobel Foundation, which runs schools for slum children, in 2015. Earlier, during the lockdown due to the coronavirus outbreak in the region, many of the families had survived on the money saved by children under the project.
At least 2,000 students, mostly slum children, are covered under the project. The children have their independent bank accounts, in which they deposit money which they saved from their pocket money.
Rajinder Sharma, head of Nobel Foundation, the NGO that runs makeshift ‘Maa Sharda Vidyapeeth’ schools in the city from Class 1-5, said that they had initiated the project in 2015 to encourage the students to save money with very few takers.
“In 2020 after a lockdown was imposed in the region due to a coronavirus outbreak when the labourers were out of job, they had survived on the money saved by their children. After the families realised its importance, families encouraged their children to save money,” Sharma said.
“The parents used to give ₹5 or ₹10 to their children as pocket money as they know the children would put the money in their piggy banks instead of spending on chips or candies. If a relative or elder gives money to the children, parents give it to the piggy bank,” he added.
Sharma said that students have been able to save as much as ₹12,000 per year. He said that they started opening bank accounts of children after the lockdown.
Meenakshi Sharma, co-ordinator at Daulat Colony School in Basti Jodhewal, said that they bought earthen piggy banks for children. The piggy banks remain in the custody of the teachers with the name slips of students on it. The children put money in it according to their convenience.
“We break open the piggy banks twice in a year in February and October and deposit the money in bank accounts of children. The children also get 5 extra marks in exams for saving money. Moreover, we honour the children with maximum savings with gifts,” she added.
Vandana, 12, a Class 5 student, said that she aims to be a doctor and would spend her savings to pursue her studies.
Rakhi, 13, who is also a student of class 5, said that she wants to be a police officer. She said if her parents would need the money, she would give it to them. Otherwise, she would spend money on her studies.
