SOCIETY

Dalit students running a bank for poor kids in Dhanbad

     Dhanbad: A bank in Kusu Vihar in Jharkand's Dhanbad Distict is being run by Dalit students to support the higher studies of children whose parents cannot afford its cost. Students of fifth and seventh standard are running this "Advanced Studies Bank" here, which is today a leading mode of safe investments. "I have my account in the bank for the past one year, it is a nice initiative taken up by the children. It is good for them as well as for me," said Prahlad Chandra Mahto, a resident. The students take care of every possible duty, right from the collection of money from investors, making entries in passbooks, ledger books and other official documents. "I can work as well as learn many more things. We are five boys in the banking business, and we manage five books that include the ledger, the special ledger, the day book and the profit and loss book," said Pranav Kumar Verma, one of the students manning the bank. Many of the students are capable of making devices like televisions, CDs, batteries and stabilizers, which they sell to the bank. The bank in turn pays for these devices, which the students use to pay off their loans. The bank provides the students with five per cent annual interest, which proves to be very helpful.

     Krishna Chandra Sinhraj, a retired TATA Steel development officer, laid the foundation of the M Jain Loyala School, enabling Dalit students to become self-sufficient in the fields of education and employment. "When the students complete their studies, they will need more money for advanced studies. Therefore, I thought of starting this bank where children will be depositing their earned money and will be benefited from it. We have 300 account holders including children, businessmen, outsiders and even some women," said Krishna Chandra Sinhraj. Various measures were taken within the premises of the school to provide students with training in the fields of education and employment. This bank has become the talk of the town not only for its simplicity, but also for its management skills. Dhanbad is a city and a municipality in Dhanbad District of the State of Jharkhand. It is the District headquarter and famous for its coal mines and industrial establishments; because of this, it has been called the "Coal Capital" of India and the "City of Coal." The Indian School of Mines, located in Dhanbad, draws students from all over India, as well as some other countries. As per 2001 Census, Dhanbad has 12 per cent of its population less than six years of age.
-Dec 8, 2006

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