The Rong Rural Municipality in Ilam has initiated a daily savings campaign for students studying in community schools, depositing money into their bank accounts. Under the 'Chairman with Students Program' in the municipality, it is mandatory for students to open a bank account and start saving.
For this purpose, the 'Procedure for the Entrepreneurship Program based on the School – 2080' has been prepared, making it mandatory for students to open a bank account. The students within the municipality who have opened a bank account have been informed. The Chairman of the municipality, Manikumar Syangbo, provided information about the program, stating that students from Nursery to Grade 12 are participating.
The municipality has made an agreement with Prime Commercial Bank to advance the program. The complete details of the students are collected, and the bank account is opened directly from the school. The municipality chairman, Syangbo, emphasizes that the program aims not only to encourage savings but also to develop financial literacy from a young age.
The amount deposited on the day of attendance check is communicated by the municipality, fostering confidence in students being present at school. The program also includes provisions for students to save a daily amount or more than that, and the savings are recorded in a passbook. Whether saving daily or monthly, the system allows for flexibility.
The money saved by students through the program, along with the development of savings habits, is expected to make higher education more accessible. Prime Commercial Bank has contributed more than NPR 250,000 for the program. For each student opening an account, the municipality has agreed to deposit NPR 100 into their bank account, with 30 community schools within the municipality participating in the program. It has been disclosed that 2,500 students are actively involved in the program.
