Banking Awareness for Students | By Dr Purnima Singh

Last week, Radcliffe School, Jaipur, was very lucky to have Dr Purnima Singh, the Deputy Branch Manager at Union Bank of India, visit us to talk. ‘It was more like teaching our students about banking and that was … actually really interesting and very useful.’

It was a fantastic opportunity for our students to be exposed to essential elements of the banking sector from world-class case studies with an industry insider.

What the Lecture Was About

It had been a banking lesson for students, of sorts, and was designed to give priority to basics. It’s everyone, not just grown-ups, who ought to learn how banking functions in a complicated world now. Students need to learn how to manage their money, spot scams, and use poverty-friendly financial products.

Dr Singh thinks that students can grow up to be financially astute and responsible citizens if educated about money and the banking system from a young age.

Key Takeaways from the Session: Banking Awareness for Students

This one taught students a fair bit about the banking culture they should know about. Dr Singh drew in his audience with case studies, too.

• Bank deposits: how to deposit in a savings/checking account.
• Withdrawals: What do I do to withdraw from ATMs and the bank?
• Using ATMs: And you’ve got to be taught how to be safe around ATMs, your PIN safe, your cards secure.
• Types of Bank Accounts: Savings vs demand/term deposit nation
• Bank scams – what they are and how to avoid them: How criminals prey on victims – and what students can do to safeguard themselves.

Dr Singh also illustrated some real-life examples of our everyday scams, such as “the fake loan offers, phishing emails, and OTP scams rendered the session all the more practical and valuable to students.

Student Feedback and Important Lessons

They were wild with excitement, asked how online banking worked, how to open a bank account, and how to spot scams. Dr Singh had infinite patience answering each question, and cautioned students to be prudent and clever in their banking.

Students learned so much that was helpful, such as

• Never share your PIN or password.
• Double-check who a message is from before clicking anything useful
• Find out how you could save with student accounts

Why Schools Should Teach Banking

Well, now more than ever, schools should be educating kids about banking. Students need to be able to budget in a cashless and app-based banking environment.

Another of our commitments at Radcliffe School, Jaipur, is to a rounded education! It doesn’t just mean that we create them to do well in school, or even to be equipped to face the challenges of life. ‘Masterclasses like these connect what they study at school with the real world, enabling our students to succeed at school and in their future life.’

Final Thoughts and Thanks

We want to thank Dr Purnima Singh for taking the time to teach this session on student banking in education. Her vision without a doubt will endure with our students, empowering them to become financially literate people.”

Want to learn more about how we’re preparing students for the future? Visit our Academic Curriculum

Learn More About Being Friends With Your Money at Learn More