School banking gets huge response with Tk 1,600cr deposits

School banking is gradually getting huge responses from the students across the country as deposits with the banking accounts crossed Taka 1,600 crore at the end of December 2019, reports BSS. The central bank’s latest data on financial inclusion shows that a total of Taka 1,614.20 crore was deposited with 19,25,368 school banking accounts at the country’s scheduled banks as of December, 2019.

According to the report, the school banking service is more popular in the cities than in the rural areas as 11,99,564 school banking accounts were opened in the cities against 7,25,804 accounts in the rural areas. The banking is also more popular among the male students than the female students as 11,31,987 school banking accounts were opened by male students against 7,93,381 by female students.

Bangladesh Bank launched the programme in November 2010 for school students to help them save up for the future, learn financial literacy at an early age and build the habit of saving.