They say the banking system is very complicated, but try telling that to a bunch of Indian street kids who set up a model bank with tens of branches all over South-East Asia.
In order to save money for a brighter future, a group of Indian children have created their own bank, where they can deposit their money and take advances whenever they need to. A branch of this unusual financial institution is located in a shelter for homeless runaway teens in New Delhi. It’s here that street children who work come to place their money for safekeeping, and take out development or welfare advances to start a business or invest in things they need for school. The most impressive thing about this bank for kids and teens is that it was initiated, implemented and is operated by children. In fact, Satish Kumar, who was elected bank manager for the New Delhi branch of the children’s development ‘khazana’ (Indian for ‘treasure chest’) doesn’t look a day over 12.
