School banking deposits increase to Tk 15.46b

Deposits with the school banking accounts at 55 scheduled banks increased to around Tk 15.46 billion at the end of March 2019.

The central bank’s latest quarterly report on financial inclusion shows that around Tk 15.46 billion was deposited with 19,54,231 school banking accounts till March 31 this year, reports BSS.

According to the report, the school banking service is more popular in the cities than in the rural areas as 12,37,458 school banking accounts were opened in the cities against 7,16,773 accounts in the rural areas.

The banking is also more popular among the male students than the female as 11,44,775 school banking accounts were opened by male students against 8,09,456 by female.

“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,” a BB official said.