Kerala Gramin Bank (KGB), owned by governments at the Centre and the State as well as Canara Bank, has launched a financial literacy programme for school children. Styled FI@School, the programme has been designed to ensure that each branch of KGB ties up with at least one school in the neighbourhood for imparting financial literacy.
KGB has 615 branches across Kerala, most of them located in rural areas. It has got a business of more than ₹28,000 crore and a client base of 70 lakh. The bank conducted various financial literacy and financial inclusion related activities in schools, ranging from financial literacy classes and related competitions and account opening camps.
It has partnered with Child & Youth Finance International, an Amsterdam-based agency, for implementing the project. Magician Gopinath Muthukad is the brand ambassador.
‘Little KGB,’ an Android app that introduced banking to children through stories, was also released during the event. The app is available in Google Play Store for free download.
The literacy classes began on January 31, and has covered 580 schools and more than 60,000 children. More than 33,000 junior savings accounts were opened during the campaign.
To celebrate the success of FI@School, the hosted an event along with Global Money Week on Tuesday here at Kendriya Vidyalaya, Pattom. Tourism minister Kadakampally Surendran was present. PV Bharathi, Executive Director, Canara Bank, presided, and also launched ‘DiGi KGB,’ the selfie account app of the bank. K Muraleedharan, MLA launched the “Little KGB” Facebook page.
Magician Gopinath Muthukad, brand ambassador, opened his account through the app in the function. Ravindra Bhandary, General Manager, Canara Bank, launched the e-passbook app. VR Raveendranath, Chief General Manager, Nabard, Kerala, launched the Malayalam version of “Little KGB” app, which is intended to woo children to banking and savings through comic and adventurous stories.
Thomas Lourdu Raj, Director of Postal Services, India Post, released a special cover on 04th April-2017 by India Post to commemorate the event. Among those who attended the function were KV Shaji, Chairman, KGB, and Rene Cuartero, Network Advisory Manager, Child & Youth Finance International, Amsterdam.
KGB plans to submit the FI@School project to RBI and other government agencies so that other banks can replicate it to drive financial literacy among school children.
Special cover images contributed by Mohanachandran Nair, Thiruvananthapuram.