Some CBSE schools yet to open bank accounts by their students

STAFF REPORTER

GUWAHATI: Some of the schools affiliated to the Central Board of Secondary Education (CBSE) are yet to ensure opening of bank accounts by their students.

Nearly 20 lakh students from Classes I to XII have so far opened accounts in banks. These students are enrolled in government as well private schools across the State. Accounts have been opened in the State Bank of India, HDFC Bank and various other banks with zero balance following a directive from the State Education department. The directive issued in September, 2020, aims at training children on management of financial skills and inculcating good financial habits on savings.

"But some of the CBSE schools are still not opening bank accounts on various pretexts. We have taken up the issue with the Guwahati regional office of CBSE. The CBSE has been requested to instruct the reluctant schools to open bank accounts," an Education department official said.

The State Government has made it mandatory for banks to give accidental benefits to students who have opened their accounts. Banks will have to give benefits such as Internet banking, mobile-banking service, free debit card and joint account holder facility to these accounts holders.

As per the modalities prepared by the State Education department, a natural or legal guardian can open the bank account either on behalf of a minor or jointly with the minor. For accounts of minors below 10 years, the guardians will have to operate the accounts. Those above 10 years can operate their accounts by themselves. Accounts will be opened with zero balance.

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